The 4 Biggest Pricing Mistakes Online Retailers Make and How to Avoid Them

pricing-mistake

*Originally published on the Quad Analytix Blog While retailers are increasingly investing in solutions to solve their pricing challenges, even the most experienced online retailers can fall victim to common mistakes. Here are 4 of the most surprisingly common mistakes that retailers make and how to avoid them: Working with inaccurate or incomplete data Cause Retailers are repricing more frequently than ever, with Amazon repricing as often as every 10 minutes. If you’re collecting data at a low frequency, you could be…

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Top 5 Ways Online Retailers Can Use Competitive Intelligence to Drive Value

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Mining for data is a great way to get ahead of the competition. The task of mining can be a lot of work, but the effort is worthwhile. But what do you do with the information once it’s in your hands? You don’t want to be like a dog chasing its own tail, so determine a specific end goal to make the most of your data mining endeavors. Unlocking a goldmine of data can do wonders for your business, but…

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Are Top Retailers Pricing Dynamically?

irukblog

Shoppers compare prices across retailers’ sites and on the barometer of Amazon’s [IRDX RAMZ] marketplace but while this snapshot gives a single view, watching over the longer term gives insight into those retailers’ pricing strategies. Being visible and found is an important start to the sales process but a product’s price is a determining factor in gaining both the visit and the sale. While some retail brands are able to control prices, for many retailers price competition is vital. How do…

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eCommerce Pricing Optimization: In-house vs. Third Party Solutions

3rd-party

According to The E-Tailing Group, 94% of consumers are willing to invest time into comparison price shopping to make sure they’re getting the best deal possible. The importance of price on purchasing decisions makes it critical for retailers wanting to compete to be able to respond to the market in real-time. Whether you’re a brand exploring ways to optimize price on your direct-to-consumer site, a brand or retailer with brick-and-mortar presence, a mail-order business trying to expand your footprint in…

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How to Implement Price Intelligence in Your Online Business

price-intel

Imagine how much easier a game of poker would be if you could see your opponents’ cards. As if the ability to do so came in the form of a lifeline from the game show Who Wants to be a Millionaire. You would know if bluffing or folding would be a good idea, and could prevent you from making a mistake that would cost you quite a bit of money. Price intelligence in online retail acts as more than just…

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