Author: Dave Canham

What is dynamic pricing?

Odds are, if you’ve ever ordered a taxi during rush hour or booked a peak-time delivery slot for your online shopping, you’ve experienced the effects of dynamic pricing.

But as a business stakeholder, you know that the right pricing strategy can mean the difference between success and failure. 

Dynamic pricing is a great way to not only capitalise on your existing customer base but also attract new customers to your business.

So, how exactly do you go about implementing a dynamic pricing strategy?

In this article, we explore dynamic pricing, its pros and cons, and help you understand how to make it work for your ecommerce brand.

List price vs net price: What are the differences?

Every business should have the correct pricing in place if it wants to appeal to its customers, whether in a brick and mortar store or across the digital shelf.

Of course, this means first understanding the different price types applicable to your products/services.

In this article, we explore the debate around list price vs net price and show how each of these pricing models can impact overall profitability.

What is ecommerce content?

Looking for more traffic from Google and other search engines? Want to expand your lead generation potential? Feel like you need better customer engagement?

Ecommerce content can help with all this. Of course, on the digital shelf, it’s not just about knowing what types of content to use; you also need to understand how and where to use them if you hope to succeed!

In this article, we explain what ecommerce content is and how you can use it to grow your business online.

What is catalogue management?

Whether you’re Pepsi pleading your case over a Harrier jet or an excited supermarket looking to push Christmas goods, there’s no getting around the fact that catalogues come in handy.

But what if you operate as an ecommerce brand on the digital shelf?

To companies trading online, catalogue management is an important part of business success. In fact, it may be even more crucial than if you own a brick and mortar store!

Effective catalogue management allows you to expand your product line, engage proactively with customers and organise inventory in a much more efficient way.

In this article, we look at catalogue management for ecommerce brands, and explain how to better manage online product catalogues so you can sway shoppers from your competition.

What are inelastic products?

Ever wanted a product so much you paid above and beyond for it?

Would you still have bought that product if the price had gone up by, say, 100%?

When it comes to buying from the digital shelf or brick and mortar stores, price has an undeniable influence on customers’ decisions. If a product is too expensive, they simply won’t pay for it; too little and it could look cheap!

Balancing price elasticity and inelastic demand is crucial if you want your business to succeed. But what are inelastic products, exactly? And why do they have so much appeal?

In this article, we investigate the phenomenon of inelastic products, including why they should matter to brands and how they could help your business grow.

Why is average unit retail (AUR) important?

Every business currently trading should have a good idea of how they’re doing as far as sales go.

They should also be keeping a watchful eye on their inventory. Is there enough stock to satisfy customer demand? And if not, how can this be fixed?

Average unit retail (AUR) helps businesses know where to focus their sales efforts, whether they’re operating from a brick-and-mortar location or across the vastness of the digital shelf.

In this article, we explain exactly what AUR is, why it’s so important, and how you can use it to help improve your business’s sales.

How to minimise checkout abandonment

Imagine a shopper has had their eye on one of your products for a really long time. They’ve done all their research, ticked everything off their own internal checklist – they’re ready to go.

Now imagine, for some reason or another, they won’t convert. Can’t bring themselves to do it.

Eventually, they abandon their cart altogether, leaving you (once again!) without a sale.

Checkout abandonment is a common occurrence on the digital shelf, mainly because of the choice customers have nowadays. How are you going to create a sense of certainty with a purchase when they’ve got all this competition staring them in the face?

In this article, we explore what causes checkout abandonment and how you can prevent it from harming your business’s bottom line.

How to make your sales promotions more successful

A difficult part of running any business is attracting customers. Another just as difficult part is retaining them!

There are so many brands out there, operating from brick-and-mortar stores or on the digital shelf, that companies must get creative if they want to succeed. 

Of course, promotions are a great way to unlock your business’s full sales potential. But which ones do you need, and how can they work best for you?

In this article, we look at sales promotions and discover how they can drive shoppers to your brand.

What is everyday low pricing?

Everyday low pricing is a popular tactic among retailers, especially in North America. 

Many big-name businesses, including Walmart and Amazon, have used this pricing model to get where they are today – i.e., taking lots of sales!

And who knows? If it’s worked for them, maybe it’ll work for you, too.

In this article, we look at everyday low pricing and how it can help give your retail pricing strategies a competitive edge.