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 […]

Do you plan to review your 2016 pricing strategies?

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

Now that the year is almost over and the last minute rushes are underway, will you set time aside to review your pricing strategies over the past year?

As with many businesses, the New Year brings an opportunity to reflect on what went well and what didn’t.   As we’ve seen from many surveys pricing is still one of the top decision […]

Dynamic Pricing – What is it, and why does it matter?

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

Dynamic Pricing – What is it, and why does it matter?

Retailers of all varieties face one universal challenge: Just how do you set the price for a product to reap the best balance between margin and sales? This challenge is, of course, an age old task that demands comprehensive knowledge of the market, as well as always up-to-date insight into […]

Unlock the potential of a good pricing process

By ||Margins, Marketing / Business Development, Pricing|0 Comments

Most business’s don’t have a pricing process

I came across this interesting KPMG press release recently that supports our long held view that the majority of business’s (big and small) have no formal price strategy or structured pricing process for managing prices.

Pricing is intrinsically linked to practically every metric of a business’s success: from revenue through to market share and finishing […]

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 […]