Category Archives: Competitor Price Monitoring

5 Obvious Reasons Retail Winners Do Competitor Price Monitoring

As all retailers gird their loins to do serious battle for customers and sales in today’s evolving and competitive marketplace, competitor price monitoring has become indispensable as the keystone for strategic decisions regarding pricing, sales, profits, and survival. Competitor price monitoring makes the difference between making a sale and getti...
Read More | Comments Off on 5 Obvious Reasons Retail Winners Do Competitor Price Monitoring

The Simple Secret To Raising Prices 5% & Increasing Profit 50%

In the world of business, everyone loves bargains. But In the world of business today, price becomes the only thing that’s important if everything else is the same — and service may be one of the only distinctions you have to offer. Many companies compete on price because they feel they don’t have good differentiation.  Competitor price monit...
Read More | Comments Off on The Simple Secret To Raising Prices 5% & Increasing Profit 50%

5 Must-Know Technology Trends That Will Drive Retail Business In 2013: Comments By 14 Retail Execs

As the lines between traditional and digital channels continue to blur and the need for competitive intelligence and price monitoring software grows, Retail Touchpoints recently asked 14 key executives from leading solution-provider companies to share their insights on technology trends in 2013. Each executive was asked to answer the following que...
Read More | Comments Off on 5 Must-Know Technology Trends That Will Drive Retail Business In 2013: Comments By 14 Retail Execs

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 (...
Read More | Comments Off on How Retail Price Vs. Customer Expectation Triggers Buying – Or Bolting To Check Competitor Pricing

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...
Read More | 2 Comments

5 Ways Retailers Can Make More Profit By Reducing Product Assortment & Managing Websales Like Costco Does

Costco and Product Proliferation: In my book, Competing in Tough Times (New York: Financial Times Press, 2011), I discussed a number of issues relating to product proliferation, which reflects on the whole subject of product assortment, assortment planning, and assortment management. There are two major reasons why retailers offer their consumers ...
Read More | Comments Off on 5 Ways Retailers Can Make More Profit By Reducing Product Assortment & Managing Websales Like Costco Does

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...
Read More | Comments Off on Over 60% of Smartphone & Tablet Owners Plan To Price-Compare Among All Retailers While Holiday Shopping

10 Ways Framing Pricing Right Gives Retailers Greater Profit: Jon Manning, Pricing Prophets Video

Manning’s back! In Ten Better Ways To Frame Your Pricing, Jon Manning, Founder & Managing Director of Pricing Prophets, says that finding better ways to frame or position your pricing could mean the difference between a successful and an unsuccessful product, winning or losing the business, or profit and loss. Jon is also Upstream Commerce’s Reside...
Read More | Comments Off on 10 Ways Framing Pricing Right Gives Retailers Greater Profit: Jon Manning, Pricing Prophets Video

8 Unique Factors Of The 2012 Holiday Shopping Season Every Retailer Should Know About – Part 3

The previous posts in this series about 2012 Holiday Retail Shopping discussed consumer thought-processes and what consumers might buy; how important retailer attitude and confidence will be without capitulating to any media hints of doom and gloom; and to start the season with value, not discounts. I stressed the importance of price tracking and mon...
Read More | Comments Off on 8 Unique Factors Of The 2012 Holiday Shopping Season Every Retailer Should Know About – Part 3

Dr. Shai Geva On How The Ideal Price Intelligence Solution Works

What makes a Competitive Pricing & Assortment Intelligence Company thrive and flourish?  What goes into capturing the pricing intelligence retailers need in order to compete effectively? Here’s a look behind the scenes at Upstream Commerce that reveals the challenges, uniqueness, and technology that drive the high-level, effective, successful pri...
Read More | Comments Off on Dr. Shai Geva On How The Ideal Price Intelligence Solution Works

5 Simple Secrets Every Successful Online Retailer Knows About Pricing, Products & Profit

The secrets of knowing your competitors’ product assortment and meeting and beating your competitors’ pricing aren’t really secrets. They are so simple, they may sound laughable. But they’re not. They’re obvious — and absolutely essential. Doesn’t matter whether you’re a mega-retailer or smaller. If you take these secrets to heart, you’ll own the...
Read More | Comments Off on 5 Simple Secrets Every Successful Online Retailer Knows About Pricing, Products & Profit

3 Important Ways Dynamic Pricing, Shipping Costs & Pricing Intelligence Affect The Cost Of A Dustpan

 In the past few posts, I talked about the advantages and disadvantages of dynamic pricing for both the retailer and the consumer. The discussions referred to Wall Street Journal article(s) about the frequent lowering of prices on all kinds of items (from toilet paper to bicycles) in order for retailers to be competitive and reach the top of the ...
Read More | Comments Off on 3 Important Ways Dynamic Pricing, Shipping Costs & Pricing Intelligence Affect The Cost Of A Dustpan

Why Pricing ‘Right’ Is Vital For Retailers Today

 In 2011, Retail Systems Research (RSR) managing partners Nikki Baird and Paula Rosenblum explored the impact of price transparency on retailers’ pricing strategies and tactics. According to the surve...
Read More | Comments Off on Why Pricing ‘Right’ Is Vital For Retailers Today