As an online retail business, you might be constantly trying to come up with ways to boost sales and drive traffic away from your competitors. As such, you might have considered listing your competitors’ prices on your own site as a way of showing that your prices are cheaper, or better value. But can you …
Can You Show Competitors’ Prices on Your Website? Read More »
To build a strong pricing strategy, you need to understand your competitors and the wider market. Whilst it might seem safe, and status quo, it can be hard to do this with a fixed price strategy. But, this is where dynamic pricing comes into play. With Dynamic pricing, you can stay on top of what …
What is the Difference Between Fixed Pricing and Dynamic Pricing? Read More »
If you’ve heard the term pricing strategy, competitive pricing, or price monitoring, you might be wondering what they mean, and if adopting these strategies could improve your sales performance. Price monitoring allows businesses to keep on top of their competitors’ pricing, meaning that they can make informed decisions about their own pricing strategies. So, can …
Minimum Advertised Pricing (MAP) is a policy used by brands to ensure that resellers do not advertise their products below a minimum price point. But, does that mean that resellers can actually sell below the MAP? The truth is MAP policies are a grey, complex area that is illegal in many countries as it infringes …
Competitor based pricing is an approach where eCommerce retailers set their prices based on their competitor’s prices and market trends, rather than considering the entire market landscape. There are advantages and disadvantages to competitor based pricing, but retailers need solid data and intelligence to make it work. So, what are the advantages and disadvantages of …
Advantages and Disadvantages of Competitor Based Pricing Read More »
Having a competitive pricing strategy is a key tool in creating a successful and profitable e-commerce business and can be supported by using an e-commerce price monitoring tool. Implementing a price monitoring strategy is significant to your business because the market could change and you need to ensure that your pricing strategy is optimised in …
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