When reviewing online product assortment, retailers have access to large amounts of data produced by their customers. Being able to research, understand, and implement analysis around these consumer signals can help to enhance and identify selection gaps, address marketing concerns, and improve product assortment.
Identifying best-selling products is an essential part of growing any retail business, and with more sales being generated through online channels, retailers are able to gather and assess consumer demand signals to determine and predict best sellers. Using this data correctly can help extend the sales cycle and lessen competition.
As omnichannel strategies develop across the retail industry, brands and retailers often find themselves battling to balance price with brand integrity. By implementing a MAP policy, retailers and brands can work together to ensure mutual sales success.
Lowest prices don’t always result in the highest sales. When considering pricing, there are four unconventional levers that influence consumers that you should understand and apply to ensure you stay ahead of the competition on pricing while still making higher margins.
Finding the right price to stay competitive, while protecting margins, requires research and flexibility. Using a reliable competitor price monitoring solution helps you price right, adjust pricing, and keep an eye on competitors’ MAP compliance.
Today, deciding to integrate a Competitive Intelligence Solution into your retail pricing and assortment system is a no-brainer, but choosing a solution provider can be a bit more challenging. Find out exactly what questions you should be asking before investing in a service.
Altering retail pricing strategically based on various factors that impact potential sales is a tactic that has been around for ages – even before the online market emerged. However, now that we have access to large amounts of detailed data, dynamic pricing has even more to offer than simply matching competitors’ pricing.
Consumer loyalty and trust helps drive sales and boost profits. Read on to learn how to use site merchandising to build a better relationship with your shoppers.
Get insights into the pricing, promotion and assortment strategies among critical categories for top retailers during the 2013 holiday season.
With more and more consumers shopping online, it’s crucial for online retailers to provide valuable content alongside their product assortment to help drive purchasing decisions. As one of the top online retailers across multiple product categories, Amazon is leading the way in offering high-quality content to customers shopping on their site.