To Be Or Not To Be: A Tale of Price Parity

This is an image of price tags that says "price parity."

This is a guest post by Carlton Dunn, Senior Account Executive at Wiser. First things first, what is price parity? Pricing parity is the practice of keeping your prices consistent across different distribution channels and/or in different marketplaces. For instance, maintaining the same price whether a customer orders a product online, or buys it in-store. Or, maintaining the same price on the Amazon marketplace and on eBay.    What to Consider with Price Parity  Is price parity right for your business? This depends on a number of factors that we will discuss…

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Pricing According to Buying Cycle for a Diverse Assortment

As a retailer with a wide range of products, the consumer buying cycle varies based on the product type, cost, brand, and more. This path to purchase is completely within your control when all of these factors are taken into account and weighed accordingly. Owning this process puts you in a favorable position to be able to increase sales.   Two Extremes of the Consumer Buying Cycle  Not all products are quick buys, instead some take days or months to decide on. This includes big ticket items, like computers and TVs. Many consumers put these…

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How Retail Arrived at Black Friday 2017

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For many years now, the day after Thanksgiving has been full of door buster deals. With Black Friday 2017 just days away, it’s only natural to look back and figure out where exactly this retail holiday came from. But the advent and widespread use of eCommerce really changed the way retailers approach the holiday. Shoppers can now checkout from their couches, without having to get the family bundled up at 3am. This is certainly a boon for retailers of all sizes. The next big wave to change…

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Wiser in the News: What Will Cost More – and Less – in 2018

Wiser was recently featured on U.S. News & World Report by contributor Susan Johnston Taylor. In her article, What Will Cost More – and Less – in 2018, she discussed the three main categories that consumers can expect to shell out a bit more (and less) for next year. Taylor tapped Wiser CEO and retail expert, Andy Ballard, for his deep vertical knowledge. Ballard’s point of view is that cosmetics and skincare product pricing will experience a dip next year. Here’s why: “The barriers…

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A Crash Course in Modern Psychological Pricing

This is an image of a brain, price tags, and the words "psychological pricing"

What is it about sales that make them irresistible? We have all be enticed by a sale before and bought more than we intended to or maybe something we definitely didn’t need. Even though we are deep into the retail consumer’s mindset, we all end up making purchases based on psychological pricing. These prices appeal to us emotionally, even if we don’t realize it. As retailers and brands, harnessing the power of psychological pricing is an invaluable asset.   We all know that psychological pricing works. And the key questions that…

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