Shopify, a leading eCommerce platform, successfully utilizes a tiered pricing model to cater to businesses of all sizes, from startups to large enterprises. By offering different pricing tiers, Shopify provides tailored solutions to meet the varying needs and budgets of its diverse customer base. We have...
In every store, you see signs that say “Buy one get one free”, and “Buy this product and get a discount for that product”. The situation is similar at the fast-food restaurant “Buy meal deal, save $3”. Everywhere you look there are special offers and...
Pricing strategies can make or break a business. As an eCommerce business, understanding optimal pricing and how to achieve it can significantly impact your bottom line. It is not just about setting a price that covers costs— it's about strategically finding the sweet spot that...
The Internet changed the way businesses operate. The emergence of eCommerce back in the 1990s has proved to be a tectonic change. This shifted shopping from offline to online and opened endless possibilities to companies. Inevitably, fierce eCommerce competition was created. And it's not just local,...
Shopify is a cloud-based platform that has become the place to be for almost every eCommerce professional over the years. With more than 6 million users in over 100 countries, there is no doubt that it is an extremely popular platform. What has especially contributed...
Things in eCommerce are constantly changing, but one fact doesn't change - fierce competition. Even the seemingly unique businesses will sooner or later face new competitors. In those situations, the price might be the only thing differentiating one business from another. And when it comes...
Here’s a simple question - is pricing strategy an important aspect of a well-functioning business? The correct answer is that of course, it is. But, can a pricing strategy become outdated? Yes, it can. This is exactly why a pricing strategy update is often required. The truth is...
The more you expand your business, the more new things you need to pay attention to. One of them is price escalation. Price escalation means that a product may have a different price in different markets. Why price escalation happens and how it can be overcome...
It seems that there is no end to new terms or popular buzzwords in eCommerce. One of the newer ones is connective eCommerce. Have you heard of it? If you haven't, keep reading, because we are about to introduce you to one of the terms that cause...
Channel-based pricing means differentiating your pricing strategies between channels on which you sell your products. However, it doesn’t necessarily have to mean one strategy for one channel. You can, for example, employ only two different strategies on 4 channels of sale. This decision depends on numerous...