Category Archives: Competitive Pricing Intelligence

7 Dynamic Considerations For Choosing The Best Pricing Intelligence Solution Vendor

As we know, today’s retailers face all kinds of challenges and competition from many directions and channels. In my previous blog post (10 Powerful Guidelines For Choosing The Best Retail Pricing Intelligence Software), I talked about what competitive pricing intelligence software should do. Today, I’ll discuss what to look for from your competitiv...
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10 Powerful Guidelines For Choosing The Best Retail Pricing Intelligence Software

Pricing intelligence software tools are being used by retailers around the world to compete more effectively, increase sales, and grow profit margins through the use of advanced automated real-time intelligence-gathering and analytics. According to trend-followers, this is the Year Of The Pricing Intelligence Tool. Choosing the right pricing and as...
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Decisionmakers Cite 9 Key Reasons Business Intelligence & Analytics Critical To Operations

Every day, there are more and more-sophisticated business intelligence and analytics tools available to optimize pricing for thousands of products, help spot possibilities to reduce prices and increase sales, analyze data, determine ideal product mix, and increase overall profitability. And the competition grows more keen with every moment. In Nov...
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5 High Performance Pricing Procedures For Ecommerce Profits

There’s no area of your company — or your future — that isn’t affected by pricing — and, with pricing and assortment intelligence technology and price tracking capability developing at warp-speed, that becomes more and more challenging every second. Deloitte analysts in 2007 observed that companies that integrated their pricing efforts outperformed...
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11 Artful Ways Retailers Can Maximize Profits Using Competitive Price Monitoring Software

Competitive pricing is about creating a set of strategies to maximize your company’s profits. To make wise, low-cost, high-result pricing decisions, retailers need to use competitive price monitoring software regularly, to track and analyze competitive pricing changes, i.e. both in real-time and over time to get the true picture of the competitio...
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How Retail Price Vs. Customer Expectation Triggers Buying – Or Bolting To Check Competitor Pricing

In line with recent blog posts about competitor pricing and customer buying psychology, here’s another interesting observation, from a study entitled: The Effects of Consumers’ Price Expectations on Sellers’ Dynamic Pricing Strategies. In this research paper in the American Marketing Association’s Journal of Marketing Research, authors Hong Yuan (...
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What Competitor Price Monitoring & Sun Tzu’s Art Of War Have In Common

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.” Sun Tzu, Art of War.

The quote, above, is my short reply to a couple of ques...
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6 Compelling Reasons Every Retailer Should Track Competitors’ Prices Daily

On any given day, retailers can attend workshops or webinars, read blogs, white papers, reports, or newspaper articles, and get advice on marketing, customer care, big data, social media, and use of mobile in shopping. It’s surprising how many retailers overlook the BASICS — assortment and pricing — the foundation on which their business should be ...
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Mobile Payments Via Smartphones Expected To Reach $1.3 Trillion Annually by 2017: Reuters Video

We all know that consumers are using their smartphones to compare competitive prices, check specs, and read product reviews. Coming up fast is the use of smartphones to make mobile phone payments, reports Bobbi Rebell in this Reuters Video. According to Juniper Research, which provides research and analytical services to the global hi-tech communic...
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3 Major Holiday Shopping Trends Were: Huge Online Retail Sales, Cyber-Monday Preference & Mobile Device Use

My major trend-winners for Black Friday and Cyber Monday Holiday Shopping are: 1) Black Friday online retail sales topped $1 Billion for the first time in history. 2) Cyber Monday is becoming the preferred shopping day. 3) The number of consumers using a mobile device to visit a retailer’s site has increased dramatically. Here’s What Happened:  ...
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5 Smartest Paths To The Most Effective Competitive Pricing & Profit

When does price matter? Econ 101 teaches that demand decreases as prices rise, and increases as prices fall. Econ textbooks inevitably present a graph with a graceful curve, illustrating the phenomenon. The problem is that there are no numbers on the axes of the graph, so you never know how much price matters. To make the situation more complicat...
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Why “Goldilocks Pricing” Is Perfect Competitive Pricing Ploy: Provides Customer Choice & Retailer Profit

Editor’s Note: As we’ve written many times, customers like to feel they are in control of what is important to them. Plus, the more choices consumers have, the more likely they will choose a higher-priced item — and find the money to pay for it. (Large Assortment Choice Increases Shoppers’ Perceived High-End Quality). The findings also highlight ...
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Over 60% of Smartphone & Tablet Owners Plan To Price-Compare Among All Retailers While Holiday Shopping

A recent Prosper Mobile Insights Online Survey by SSI (Survey Sampling International) found that 55.3% of mobile device owners completing a survey via their mobile devices said they plan to use a smartphone or tablet for holiday shopping this year… to research, compare prices, purchase, locate stores, or assist with other shopping tasks. 66.0% sai...
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