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

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*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?

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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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How Price Testing Enables Retailers to Make Smarter Decisions

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The ability to price effectively is becoming a core competency needed in the retail industry in order to maintain a sustainable competitive advantage. It’s the reality in such a saturated market with increasingly sophisticated competitors. Pricing strategy is a unique part of online retail because the same strategy won’t necessarily work across the board. Why? First, there isn’t one magical pricing strategy that works for all retailers. Second, one pricing strategy doesn’t always work across all of a retailer’s SKUs.…

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Compete Beyond Luck with Wiser’s New eBook

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Running an eCommerce store takes a lot more than just luck. Even if you have high conversion rates and impressive prices, you know it was all a result of your hard work and dedication. Sure, everyone could use a little luck every now and then, but it’s definitely not something to rely on, especially in eCommerce. So instead of crossing your fingers and waiting for a leprechaun to fall into your lap, try checking out Wiser’s new eBook How to…

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