Category: Best practices in price monitoring

Reading Time: 4 minutes

Did you know that a 1% improvement in price optimization can bring on an average boost of 11.1% in profits?  Anyone familiar with this fact is professionally and thoroughly engaged in price optimization. Still, a vast number of businesses are guessing or copying competitors’ prices which indicates plenty of room for improvement. The process of...

Reading Time: 6 minutes

Business owners will tell you that all the phases of running a business can be challenging, but what especially keeps them sleepless is pricing. Or to be more precise – possible pricing mistakes. Pricing analysts are constantly second-guessing themselves. But is it even possible to be fully sure that you’ve chosen the right pricing strategy? ...

Reading Time: 6 minutes

Charging every customer of yours a different price for the same product – sounds like a crazy idea, right? Perhaps unnecessary? Overboard? Don’t worry if those adjectives are the first ones that came to your mind when you read the first sentence. You’re not completely wrong. Let us explain what price discrimination is all about. ...

Reading Time: 6 minutes

The first association with the adjective “sticky” is usually connected to food (or sticky notes if you are a student), but yes, that’s right, prices can be sticky too. Sticky prices mean exactly what they sound like – they resist moving or changing. Since the eCommerce world revolves around dynamic prices, it’s clear that having...

Reading Time: 5 minutes

Target return pricing is a strategy that is used to set the product price based on the expected rate of return on the investment. Or in other words, it’s the profit that the firm can expect in the future from a certain investment. But wait, don’t get so easily scared away! We promise it’s not...

Reading Time: 6 minutes

Are you selling multiple products through one or multiple channels? If you are (or you have in the past), then you must be aware of the challenges that come with making decisions about prices for all those products. Add on top of that having to check your competitors’ prices and the fact that often prices...

Reading Time: 7 minutes

When you start to dive into the pricing strategies, it soon becomes a bottomless hole with new strategies popping up one after another. Since you seemed to be pretty interested in our blog post about dynamic pricing, we decided to explain another pricing strategy that is very closely related to it – differential pricing.  Read...

Reading Time: 9 minutes

Retailers today resort to many, what is commonly called, “tricks” in order to attract customers. Some of them seem logical and some counterintuitive, even. To many of you,  loss leader pricing may be just one of such “tricks”. But, it’s not a trick at all. It’s a viable pricing strategy that has its own logic...

Reading Time: 6 minutes

How would you like to choose the price of products that you’re buying? Well, there are some businesses that are offering just that! Such businesses are based on a “pay what you can” system where customers can choose among a few prices.  You might be surprised to know that this actually brings profit to the...

Reading Time: 9 minutes

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 factors and we’ll cover the most important ones in...