Category Archives: eCommerce Pricing

3 Cogent Competitive Strategies For Retailers Based On Barnes & Noble’s Recent Quickstep – Backwards

Over the next ten years, Barnes & Noble Booksellers anticipates closing as many as one-third of its retail stores, according to a January 28 article in the Wall Street Journal. (As of January 2013, Barnes ...
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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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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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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...
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How Retailers Can Increase Revenue 39.1% Using Decoy Pricing (Dan Ariely)

Renowned behavioral economist Dan Ariely returned to his roots at Duke University following stints at MIT that included tons of thought-provoking, mind-bending research on human behavior (more correctly on human irrational behavior), which has implications and value for retail competitive pricing with regard to buyer behavior. In this video on pri...
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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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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 ...
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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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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...
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What Does “Free” Mean For Retailer Pricing & Profits In This Digital Era?

“There are many economies — ones of status, time, information and more — and the trick is to get people to trade their money for one of them,” says Chris Anderson, best-selling author of Free: The Future of a Radical Price (2009). The book examines the advantages of a strategy where products and services are initially ...
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Surging Mobile Use, Worth $20.7B last year + Doubling Tablet Use = Retailers’ Holiday Challenge & Bonanza

Consumers spent more than $20.7 billion shopping last year using mobile devices: $5 billion of those purchases were made on tablets; consumers using tablets for purchases spent an average of $10 more...
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4 Ways Giving Consumers Something That’s Genuinely Free Can Help Retailers Profit In The Long Run

“Free” has many different meanings, and it is used in many different contexts, but free has a lot of weight when it is used in marketing. In an interesting book called Free: The Future of A Radical Price, best-selling author and Wired Editor-in-Chief, Chris Anderson, posits that consumers behave extremely differently to get a free product than th...
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