Competitor Pricing Strategies Top tips for success

By ||Price Intelligence, Pricing, Retail|0 Comments

What do we mean by ‘Competitor Pricing Strategy’ ?

A competitor pricing strategy is one that takes into consideration the prices your competitors are charging for the same or similar products. If you’re selling ‘commodity’, branded products, widely available from other retailers, then you have to take into consideration your competitor prices when setting your own. Also known as market pricing, […]

Are you on the Pricing Intelligence journey?

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Building Pricing Intelligence Maturity
Price intelligence is one of the most important factors in building business competitiveness. However, not everyone is at the same point along the pricing intelligence journey.

The journey I’m talking about, I like to call ‘Pricing Intelligence Maturity’. This can take many directions, including acquiring pricing knowledge, building pricing skills, systems deployments, or organisational transformation.
Setting your Price Intelligence […]

Do you use price comparison solutions as strategic insight?

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Do you need to view data in a different way?
In our previous blogs, we highlighted the need for retailers to understand their competitors through price comparison solutions. This is a still an essential stepping-stone in understanding your competitive landscape.

However, many of the companies we talk to also use data from these systems in a deeper strategic way. Instead of using the […]

Do Amazon prices drive consumer loyalty ?

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Amazon prices are perceived as competitive but consumers still price compare across other retailers.

CPC Strategy surveyed 1500 men and women in the U.S. about their Amazon shopping habits and the results not suprisingly, show price and delivery as the key criteria in the buying decision.

The reports’ introduction quotes some interesting Amazon statistics on its’ size and dominance of U.S retail channels.

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Is online price tracking now the competitive norm ?

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Online price tracking tools enable rapid price response

Back in November 2000, Professor Robert J. Kauffman posed a question in a paper* that suggested that the Internet would lower on-line prices as a result on intense competition between vendors. His research presented a case where intense competition between vendors happens. However it doesn’t drive price down in a never-ending spiral. Instead his evidence […]

Does price competitiveness drive loyalty?

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 The buying triangle – Price, Availability and Convenience

Retailer and Brands invest heavily in customer loyalty. It serves them well as loyal customers tend to have an emotional connection to the retailer or brand. Loyalty is highly regarded as it drives repeat business. However in today’s fast moving world where price competitiveness is key and brands compete more openly, customer loyalty is […]

Price monitoring, is it a skill or an art?

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Tools save time

Today, it’s nearly impossible to see how you compare to the all your competitors without the aid of price monitoring tools, such as InSiteTrack. Yes, you can dip in and out to check prices, but this doesn’t give you an overall picture.

These tool save time and free up valuable resources. They provide retailers with accurate and near-real time price comparisons that couldn’t be […]

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 […]

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 […]