Posts tagged with Pricing Strategy

ai

15 examples of artificial intelligence in marketing

Artificial intelligence (see the Wikipedia definition), specifically machine learning, is an increasingly integral part of many industries, including marketing.

Here are a whole bunch of case studies and use cases, as a complete primer for AI in our industry.

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How online retailers can improve price optimization strategies

The key to price optimization doesn't lie in retailers' speed of price changes, it lies in the accuracy and calculation.

Over the past couple of years, speed has been the name of the game in the retail industry.

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Three ways to optimize for Amazon's pricing strategy

Amazon has become synonymous with great deals.

Retailers using the marketplace have spoken out about drastic undercutting from Amazon as a retailer, especially because they reprice with such high frequency (changing the price of the bible 100 times in five years).

But what's Amazon’s actual strategy when it comes to pricing?

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How machine learning is changing online retail for good

William Faulkner once wrote, "Always dream and shoot higher than you know you can do. Do not bother just to be better than your contemporaries or predecessors. Try to be better than yourself."

Growing content with yourself or your business is incredibly dangerous.

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Why data mining is the future of online retailing

Imagine for a minute that the year is 1849.

A new resource has been discovered in the rolling hills of California, and some say it can make you rich.

Do you pack your bags and head west? Or do you pass on the opportunity and focus on your livelihood at home?

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Four top pricing hacks for online retailers

Pricing hacks are small tactics that can make big impacts on your ecommerce sales.

If you're a retailer, the idea of trying something new might warrant a bit of caution moving forward.

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What's better for online conversions: Low prices or a strong brand value?

Every retailer's conversion rates could use a little push. The only question is how they can attain and surpass their desired conversion rates.

Many retailers resort to temporary ideas like discounts or free shipping to draw customers into their store, but the reality is that while these are useful to increase sales, they aren't sustainable strategies.

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What retailers should do instead of ‘everyday low prices’

'Everyday low prices' was a successful strategy for Walmart, but how does it fare today?

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The lowest price doesn’t mean the price is right

Many retailers make the mistake of making their prices the biggest point of differentiation.

Here's how they can change that.

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Why sales & discounts hurt your ecommerce brand

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.

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Why dynamic pricing is a must for ecommerce retailers

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.

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