Category Archives: Competitor Price Monitoring

5 Ways Online Retailers Can Confront Amazon’s Decision To Collect Sales Taxes

For years, retailers complained that they had to compete on a tilted playing field against Internet retailers who did not charge sales tax. States trying to attract online businesses didn’t press the issue, especially after Amazon promptly ended relationships with marketing affiliates in Colorado after the state threatened to collect sales taxes fr...
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Vision Is The Secret To Competitive Pricing Success

Your competitive pricing environment is changing around you. Are your prices keeping up with market conditions? When it comes to maintaining your prices, you have 4 choices: Ignore, react, respond, and pre-act. Ignoring is used too often as the default price maintenance methodology. Reacting is using the ignoring strategy, until the consequences ar...
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6 MAJOR Reasons To Track Your Competitors’ Prices Every Day

“How often do you/your company track your competitors’ moves and pricing?” That was our recent poll question to our 1,858 members — primarily retail executives — on my LinkedIn group, Competitive Pricing for Online Retail.  Take a look at the results of the poll, below, plus a number of interesting responses from group members, followed by 6 MA...
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New Real-Time Assortment Intelligence Tool Helps Retailers Beat Their Competition

“Retailers today need every technological advantage they can get to track competitors’ pricing and assortment in real time,” said Gartner research vice president, Kevin Sterneckert, in an interview earlier this week. “Increasingly-savvy consumers are forcing retailers to alter pricing strategies, so it is imperative for multichannel retailers to ...
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Retail Intelligence Of The Future: Will Retailers Lead Change Or Just Look In Their Rear View Mirror?

Thomas Paine was believed to have said, Lead, Follow or Get out of the Way.  And legendary baseball player, Leroy “Satchel” Paige said, among many pithy quotes, “Don’t look back. Something might be gaining on you.” In this case, that “something” may be the use of real-time competitor monitoring in retail. This week Upstream Commerce unveiled a ne...
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How Retailers Can Manage Their Internal Pricing Systems For Efficiency and Profit

Pricing done right can have a huge impact on a company’s profitability. This is, of course, a huge understatement. In the previous two parts of this series, Getting Pricing Right: The Enemy Within — 5 Ways Retailers Can Look Inside Themselves To Get Pricing And Profit Right, and 5 Ways Retailers Sabotage Their Own Pricing And Profit — we talked a...
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How Retailers Can Get Pricing and Profit Right

In my recent blog post, “5 Ways Retailers Sabotage Their Own Pricing and Profit: The Enemy Within, Part 1“, I described that a one percent price increase can boost a company’s operating profits by 11.1 percent – much more than the profitability increase a company can expect from a one percent overall reduction in variable costs (7.8 percent), a...
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Price Wars, Part 2: 5 Reasons Price Wars Are A Bad Idea & 5 Steps You Can Take To Avoid Them

Common agreement about price wars is that the effects are severe, enduring, and, more often than not, nobody wins. In Price Wars – Part 1, Upstream Commerce Guest Blogger Reuben Swartz wrote that companies can end up in price wars due to lack of information, having no strategy, and not exercising price differentiation. In this post, we’ll take a...
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How You Can Price More Competitively Using A Pricing Intelligence Tool (Video)

For any retailer who’s serious about identifying real opportunities to price more competitively and secure the best profit margins, pricing intelligence tools have become compulsory to survive in the competitive marketplace. With a pricing intelligence tool, you can not only compare how your prices compare with your competitors’, but answer other...
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6 Ways To Use “Big Data” To Increase Operating Margins By 60% – Part 2

In my recent post, “Why Harnessing ‘Big Data’ Is The Next Big Thing in eCommerce (Part 1)”,  I talked about extraordinary opportunities coming with “Big Data” —  or “the drift toward data-driven discovery and decision-making,” as the New York Times calls it. In Part 1, I talked about the implications and insights of harnessing “Bi...
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5 Tips For Businesses To Effectively Target Today’s Consumers

Watch this video and listen to what several marketing experts have to say about consumers, competitor prices, marketing, customer service, and value. The advice, as true today as it was in 2009 includes: Focus on what makes somebody buy from you rather then anybody else; really get into the minds of the consumer; keep abreast of your competitors — yo...
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Terrific Pricing Video: 10 Important Things Retailers Should Know (And Do) About Competitive Pricing

What does Goldilocks have to do with half a car? Or Bart Simpson have to do with a pricing laboratory? Pricing strategies. At least according to Pricing Prophets they do. We chose this video because Pricing Prophets’ Founder/Managing Director, Jon Manning presents some of the best competitive pricing advice you could want, with humor and goodwill...
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5 Smashing Ways To Greatly Increase Your Profit Margins Using Competitive Pricing

Competitive pricing is the most important element of your online retail business! And the more I work with competitive pricing and Competitive pricing intelligence, the more I know how simple and obvious it looks, even though it’s not. So let’s get something straight right away: Pricing competitively does NOT necessarily mean looking at your co...
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