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Dynamic pricing is a pricing strategy in which prices change in response to real-time supply and demand.
While this isn’t a brand new pricing strategy, (American Airlines first introduced it in the early 80’s) it is currently taking ecommerce by storm.
Dynamic pricing allows retailers to remain competitive with 24/7 price monitoring and changes, boosting profits by 25% on average.
In this post, I'll look at Christmas e-tailing and the likely trends over the next 12 months.
Retailers must look towards implementing digital strategies into their traditional bricks and mortar approach if they want to capitlise on the potential growth opportunities online and mobile can provide.
Expectations for Facebook commerce, or f-commerce as it's commonly referred to, may have been set too high, and social may not be as big a player this holiday shopping season as some might have hoped, but that doesn't mean that social doesn't have a big role to play in the ecommerce market.
In a new infographic produced as part of its 2012 Social Commerce IQ: Retail report, software vendor 8thBridge takes a look at where retailers are at today with their social efforts, and where they most innovative are going with their social networking initiatives. For retailers looking for a path forward, it focuses in on the best practices those innovators are applying to get the most out of social.
In Australia, 98% of shoppers would like to buy local, but the vast majority turn to overseas retailers in search of lower prices.
Fortunately for digital High Street retailers in the U.K., British shoppers are less influenced by prices than their friends in the Southern Hemisphere according to a survey conducted by digital marketing solutions provider EPiServer.
For many multichannel retailers, a joined up in-store and online approach increasingly makes good sense. While digital (which includes mobile) presents some new challenges for retailers, there's little doubt that offline and online can be a potent combination.
When it comes to driving online shoppers through the doors of a physical store, there are numerous ways to get the job done, from in-store events to click-and-collect schemes. But one of the easiest and often most overlooked is the handy store locator.
A well-designed store locator can be a big help in getting a customer or potential customer to drop in.
Here are five tips for creating an effective store locator experience...
Amazon wants your business this holiday shopping season. If you use its Price Check app while you're out shopping on December 9 or 10 in the US, the e-commerce giant will give you a 5% discount on up to three products you 'price check' - for up to $15 in total savings.
Understandably, brick-and-mortar retailers aren't exactly thrilled. In fact, the Retail Industry Leaders Association (RILA) appears downright angry.
Amazon is the 800 pound gorilla of e-commerce, and to maintain its dominance, it has developed a number of competitive advantages that will make it harder for any other company to take its throne.
Increasingly, one of those competitive advantages is Amazon Prime, which, among other things, offers customers free two-day shipping on all their orders for $79/year
But if new rumors that have surfaced are to be believed, Amazon Prime may soon have competition, and it won't be from another retailer.
Cyber Monday may be today, but many of the major retailers in the United States, eager to start the holiday shopping season strong, brought their sales online for Black Friday last week.
According to comScore, it worked: more than 50m Americans visited ecommerce websites on Friday, spending $816m, 26% more than they did in 2010. What's more: thanks to Thanksgiving Day sales, retailers sold $479m worth of stuff last Thursday, 18% more than they sold the year prior.
Facebook's massive reach is well-established in the minds of marketers and business owners, but according to Sociable Labs CEO Nisan Gabbay, they often "don’t quite get how pervasive the service is in people’s lives".
How pervasive is it? An analysis by his company, which looked at more than 450m visits to various retail websites, found that more than 50% of visitors were logged into Facebook while browsing.
What's more: even though there was variation of the logged-in percentage across age groups, well over a third (40%) of middle aged visitors were logged into the world's largest social network too.
Some of the largest, most prominent multichannel retailers in the United States are so eager to get the holiday shopping season started that they're kicking Black Friday off early this year.
Instead of opening their doors to crowds on Friday morning, many are opening as early as midnight, hoping to cash in on consumers itching to burn off calories with some post-turkey dinner shopping.
The PayPal brand has become synonymous with 'online payments', and despite the fact that the company isn't the newest kid on the block, it's no surprise that it keeps growing like a weed as commerce continues to move online.
John Donahoe, the CEO of PayPal parent eBay, however, thinks that online payments should make up a much greater percentage of global payments than they currently do and as a result, PayPal is aggressively working to expand its footprint. One of the newest ways PayPal appears to be doing that is through a new offering called Access, which is reportedly set to be announced today at its X.commerce conference.
Online retailers are getting lazy, irresponsible, and are disregarding best practices when it comes to responsible email marketing, according to a new study from Return Path.
These dire findings were based on buying items from 45 online retailers, then monitoring their transactional and promotional message streams. These emails messages were then compared with messages received by registering for the same retailers' email programs without making a purchase.