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Retailers often go to great lengths to ensure the consumer's path to purchase on their site is laid with gold bricks and pleasant surprises.
Unfortunately, many allocate too many resources to the path and a meager amount to the destination.
Small price changes can yield short term gains. Price testing can make them long term.
Giving away products for free is far from sustainable, but then again there's a time and a place for everything.
When retailers increase their prices, they run the risk of losing customers. But it doesn't have to be that way.
The way retailers choose to position their brand often justifies different price points.
These three brands are proof of that.
The world of ecommerce has come a long way the past couple of years.
We’ve assembled these quotations from various thought leaders and beyond to summarize tactics that have changed the way customers and businesses alike interact in the industry.
With another holiday shopping season (and post-holiday clearance) in the rearview mirror, online retailers are taking down the sales signs and getting back to business as usual.
Although business may become out of the ordinary for some, that sales spike can shoot as high as Mount Everest and can fall like a rookie snowboarding down it.
We live in a constantly changing market, why should your prices be static?
That title’s kind of a big statement, but it’s true. Customers face an array of prices for identical items from store to store. But why?
Well, some stores are trying to beat competitors’ prices, and others are raising prices based on an increase in demand.
Halloween is over, and you know what that means: Christmas carols, decorations, and holiday sales are now fair game.
Sorry grinches, but shoppers and businesses are starting to get ready for the holiday season earlier and earlier, and there’s nothing that can be done about it.
One thing that is in your control, however, is preparing for it. 2014 is expected to be the biggest holiday shopping season in years, so how can you get ready for it?
Psychological pricing is a strategy that retailers can take advantage of, whether they operate online, offline, or in multiple channels.
When retailers tap into these pricing tactics, they are able to effectively boost sales and conversions.
There are a variety of pricing tricks and tips to entice shoppers to buy, so price intelligently to benefit from this phenomenon.
Not all discounting strategies have to result in doom and gloom for your business. I wouldn’t advocate discounting to simply drive sales, but to be part of your marketing strategy.
Think of the long-term impact of your discounts and promotions. Is is sustainable? Can you grow your business without discounting?
One-size doesn’t fit all with discounting strategies and you should test and learn to maximise profitability and revenue.
But do so with one eye on the perception and future growth of your business.
US manufacturers use MAP (Minimum Advertised Price) to protect brand image, maintain retail value, and keep margins ideal for resellers.
However, for the manufacturer that produces and distributes thousands of products, policing the retailers who sell your products can be a time consuming challenge.
As a result, a majority of resellers violate the MAP at least some of the time.
We have released an infographic which outlines the prevalence of MAP abuse, why it matters, how retailers are bypassing it, and the top three ways manufacturers can fight back.