The Role of Product Data in Pricing Strategies
Across industries, product data enables businesses to be proactive rather than reactive in their pricing strategies. Learn the best approach to get relevant competitor product data efficiently....
Purchase Decision Process: Sell More by Understanding Your Customers
Prices impact the customer’s purchase decision process at all the stages of their journey. Pricing considerations are present throughout all the parts of the purchasing funnel—top, middle, and bottom. Sellers need to understand the fact that the customer’s purchase decisions aren’t linear and at times...
AI Assistants for E-Commerce: Transforming Support & Sales
E-commerce has never been more exciting - or more demanding. Today, customers expect instant support, personalized recommendations, and a seamless shopping journey from start to finish. So, keeping them happy while driving sales is no small feat. However, as businesses scale, maintaining that level of...
Charm Pricing: The Science Behind Ending Prices in .99
What Is Charm Pricing? Charm pricing is a psychological pricing strategy that involves ending prices with .99, .95, or similar odd numbers to create the perception of a lower price. For example, a product priced at $9.99 appears significantly cheaper than one priced at $10, even...
Buyer’s Remorse in eCommerce: What is it, Why it Happens, and How to Avoid it
Buyer's remorse is the feeling of regret or dissatisfaction that a person experiences after making a purchase. The more impulsive the purchasing decision was, the likelier it is that a sense of regret will occur. ...
Why Price Perception Matters More Than the Price Itself
The Price Tag Isn’t Everything – It’s How Customers Perceive It Imagine two nearly identical products—one priced at $50, the other at $80. Most shoppers would assume the more expensive one is of higher quality, even without proof. This is the power of price perception—the way...
6 Psychological Pricing Strategies With Examples
Using psychology in pricing is not a new strategy. Retailers have always been using different tricks to ensure their products sell well. Over time, some Psychological Pricing Strategies showed better results than others, and what was a good profit-making marketing and pricing strategy in the...
The Power of Psychological Pricing: How to Influence Buying Decisions
Understanding Psychological Pricing Have you ever hesitated before making a purchase, only to be swayed by an attractive discount or a price that "just feels right"? That’s psychological pricing at work. Whether you realize it or not, pricing strategies shape your buying decisions daily. As an...
Amazon Pricing Strategy – The Most Powerful Pricing Strategies [+ PRO Tips]
Master your Amazon pricing strategy with dynamic, competitive, and penetration pricing tips to boost sales and win the Buy Box effortlessly....
Price Sensitivity: All You Should Know
How do you set a price for your products? Deciding on what to charge for a product or a service is a step that many CEOs and online retailers don’t take seriously enough. Instead of taking a few different factors and a lot of data...