David Aryan

Your brand’s reputation is at risk.

And so are your profits.

With the precarious state of today’s e-commerce landscape.

Thousands of unchecked resellers are selling your products at below MAP.

Such activity harms the value of both individual products and the brand as a whole.

The retail giants are not doing enough to prevent infractions of MAP policies.

A lack of MAP compliance discourages customers from staying loyal and paying full price.

There’s a serious need for brands to enforce a MAP policy to monitor resellers.

Agile product pricing strategies is one of the biggest questions retailers face.

The relationship between an item’s price, its quality, and perceived value to consumers is oftentimes the deciding factor whether purchase ever takes place.

In such an increasingly crowded marketplace, the concept of cash cow marketing has been called into question, leaving sellers in the eCommerce space and beyond to reevaluate how they approach their respective businesses.

Fortunately, the Price Quality Matrix presents a simple way to leverage product value and address the pricing dilemma head-on.

Now, the question is what is the Price Quality Matrix?

By determining the position of your products or services relative to the competition, retailers can use the price and quality of each item to identify where they stand in the market.

Of course, this knowledge can then be incorporated directly into your decision-making process when it comes time to devise a pricing strategy.

Just think of it as another way to assess your relevance in today’s fast-paced and ever-changing business landscape.

E-commerce growth in the US climbed to 27% from 16%.

In just the last 8-weeks of quarantine.

The same amount of market share growth it achieved over the past 10 years!

The retail world is fast evolving.

With such a dramatic acceleration, online retail businesses will need data on their side to make informed decisions based on consumer shopping behavior, competitor movements, and retail trends.

Through Intelligence Node's Retail Recovery Tracker, retailers can get many data-driven insights.

The tracker shows a high-level view of year-on-year comparisons across prices, discounts, and new arrivals to analyze market movements and take the next step accordingly.

This is interesting. Have a look.

The average person’s attention span is 8 seconds or less – which, remarkably, is shorter than the attention span of a goldfish!

65% of individuals say they’re visual learners.

Visuals increase message retention by 42%.

BOOM!

That’s how immediate the impact of visual merchandising is on retail shoppers – and why effective visuals are a strategic asset in omnichannel retail.

Visual merchandising presents a retailer’s physical store or e-commerce website in an enticing way to attract customers.

Yet the objective isn’t just to look alluring – it’s to fuel retail purchases.

In our age of digital and social media, visuals matter.

Pricing is a complex subject.

It requires a thorough understanding, yet it is massively important.

If you set it right, the sales and profit will flow.

Get it wrong and, well, you know, you’re doomed, to put it mildly.

Your pricing affects everything, from profit margins and sales to brand positioning and market share.

So, what’s the trick?

How do you implement a pricing strategy that conveys everything you want to stand for as a company while bringing in profit in the process?

Businesses have the luxury to choose from a variety of pricing strategies, depending on the goals and objectives they set.

Of course, none of those matters if they are not based on market research and customer demand.

It is vital to understand who is your target audience and competition, only then will you be able to utilize an effective pricing strategy.

“Six Sigma” is cryptically applied to describe a measure of quality adopted by a business organization.

Truth be told, there’s a lot more to Six Sigma than simply the formless perception some may have of its principles.

Essentially, this data-driven philosophy gets its name from the six standard deviations used as guidelines to keep business defects firmly in check and within established specification limits.

Over 75% of retailers expect in-person shopping to resume sometime in the next six months.

But what will it look like, exactly, when stores reopen?

Well, if you’re a retailer who believes everything will return to normal, you’re going to be in for a rude awakening.

Because the reality is: We’re ways away from normal.

The COVID-19 situation is evolving on a daily basis.

We’re seeing a rapid change in market conditions, consumer expectations, and employee concerns across the board.

Buy One Get One Free deals

Flat 50% off, Minimum 70% off

Other crazy deals!

Without them, where’s the fun in shopping online?

For eCommerce owners, pricing their products is one of the most daunting tasks.

They feel that not only should their prices be attractive for shoppers, but sales figures should always be in the peak of health.

Obviously, you should track your competition’s pricing.

There is no question about that.

With all the competition that’s constantly growing, consumers have their veritable pick of the litter.

In essence, they are spoilt for choice and can easily find the best deals on the required products in just a few taps or clicks.

So, in order to keep up with savvy customers and competitors, businesses turn to price tracking.

It allows them to be increasingly competitive and focal in their efforts while achieving greater profitability through the use of data.

In principle, there are two ways price tracking is done:

1. Manual tracking 2. Automated tracking

Today’s consumers are demanding and expect a personalized, seamless experience while shopping.

This has made online visual merchandising as important as in-store merchandising in ensuring engaging and exciting shopping experience.

Merchandisers have to ensure they keep updating the online store to showcase the best, top-selling, and in-demand products to attract customer attention.

In such an increasingly crowded marketplace, the concept of cash cow marketing has been called into question, leaving sellers in the eCommerce space and beyond to reevaluate how they approach their respective businesses.