How E-tailersCan Profit from Market Opportunities
Let’s find out:
1. Why it’s worthy to monitor prices of your competition
2. How to use monitoring to find new market opportunities
3. How to set prices in your online shop to maximize sales and profits
New business opportunities arise every single day for online retailers
Price monitoring
E-tailers should monitor prices
to get the pricing strategy right
and to identify new business
opportunities.
Price intelligence tool
The volume of data produced in
e-commerce is vast and volatile.
Price intelligence software uses advanced
algorithms to measure data effectively
which can immediately bring profits to
e-tailers.
How e-tailers can increase profit margins?
CASE 1: increase slightly the price and your product will remain the cheapest anyway,this way you’ll increase your margin
You offer the lowest price
on the market and the price
difference between your
offer and competitors’ offers
is high.
CASE 2: raise prices to maximize your margin
You are an exclusive seller
of the product at the
moment. This way you can
dictate the price.
CASE 3: increase prices to maximize margin for customers who value product availability
You are the only one who
has the product in stock at
the moment while your
competitors have problems
with product availability.
How e-tailers can increase sales?
CASE 1: decrease slightly your prices and become a leader
Sometimes the difference
between your offer is so
small that you can decrease
it slightly to go to the top.
This way you can attract
more clients to your store
and increase sales.
CASE 2: decrease prices of popular products
Attract customers with
popular product and sell
them more
suggest the purchase of other,complementary goods with higher margin
What else can be done?
1. Analyze which rules to
apply to automatic price
changes and then integrate
your online store with
monitoring tool
What else can be done?
2. Prices will change
automatically based on current
market situation, therefore you
can get ready for sales and
margins increase!
Get a demo to check how it works:
www.pricelab.co