Economy

Does retail need a real transformation?

By ||Ecommerce, Economy, Marketing / Business Development, Pricing, Retail|0 Comments

Can Retail survive without a radical transformation?  Big powerful players like Amazon are changing the industry. Can it really compete in a world where price and data analytics influence consumer choices.

My previous business experience is not from the retail industry. So what have I got to offer?   None you may say, but please indulge my general observations and comparisons.

As far as I can […]

The implications of the shift to digital channels

By ||Ecommerce, Economy, Margins, Pricing, Retail|0 Comments

A recent PricewaterhouseCoopers economic report suggests the gradual shift in demand from traditional high street to digital channels has had a number of important implications for businesses:

Revenue: A shift to digital has not necessarily translated to extra demand via higher revenues, but businesses have been able to protect their revenue (rather than losing out to online competitors) by setting up […]

Retail trends, slowest online growth for more than 2 years

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Slowest online growth since April 2013
In what is a post-apocalyptic financial crash world, the past 12 months have seemingly reported little but good news. From positive retail trends, GDP which has performed steadily, onto a housing market that is decidedly buoyant and finishing upon employment figures that have suggested the economy is heading in the right direction.

Given this strong performance […]

Customer Satisfaction Trends

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Are consumers becoming less satisfield with customer service or are we simply becoming less tolerant and more demanding ?

The Institute of Customer Service (yes really!) has recently released its latest update on the levels of customer satisfaction in the UK. On the face of it it, it appears to show that overall satisfaction seems to have stabilised following two years […]

Price automation is key to dynamic pricing

By ||Ecommerce, Economy, Marketing / Business Development, Pricing|0 Comments

It is surprising that companies embark on spending money on price automation tools without really understanding what’s needed.   This not just a problem with pricing tools.  It is a universal problem that affects thousands of IT applications and systems across the world.

The typical scenario is that an enthusiastic manager, CEO or even staff member is convinced that the tool is […]

7 quick tips for growing your margin

By ||Ecommerce, Economy, Margins, Pricing, Retail|0 Comments

Although InSiteTrack primarily offers price monitoring and intelligence solutions, the real reason we operate is to help business grow and increase their profitability.   Below are some of the hints and tips we have gathered from our customers over the years.

Really promote the premium or higher margin products. A lot of small businesses promote lower-margin products and services, then try to […]

How often do you change your price strategy?

By ||Ecommerce, Economy, Pricing, Retail|0 Comments

 

While there are many ways to arrive at a pricing  strategy, there are still the basics to consider, including product positioning, market demand, your costs and of course your margins.

However in today’s fast paced e-commerce world how often do you take stock of all these factors?

Not only do you have to look internally, you have to be knowledgeable about your […]

Average weekly online sales exceed £700m in August

By ||Ecommerce, Economy, Retail|0 Comments

According to the Office for National Statistics, UK retail sales for August 2014 increased by 3.9%.
“This year-on-year increase is now the 17th month of consecutive year-on-year growth and when
this is coupled with the 18 months of consecutive rolling 3-months on 3-months growth it would
be true to say that the underlying picture is one of growth.”
The quantity bought in household goods […]