Shopify Pricing Strategy: How to Stay Profitable
Running a Shopify store sounds like a good idea for many, but keeping that store profitable is something many newly found (and even seasoned) e-commerce owners struggle with. You see without a proper profitable pricing strategy, your e-commerce store will quickly end up costing you more money than it makes you. But there are various …
Magento Tiered Pricing: Benefits + Implementation Plan
When running your e-commerce store on Magento, you’ll often think about different ways you can price your products to get the most bang from your buck (literally). But one often overlooked pricing strategy is a Magento tiered pricing strategy. For many people, they quickly reject a tiered pricing strategy because it often feels too complicated …
Psychological Pricing Strategies to Boost Sales and Revenue
Do you know that 87% of online buyers consider price as the most important factor affecting their purchase decision? In this scenario, you cannot go wrong with your pricing strategy. Price your products too high and you are at the risk of losing your customers. Price them too low and you are at risk of …
Ultimate Guide to Dynamic Pricing: Everything You Need to Know
Well done! You’ve launched your e-commerce store and have started to see some sales. You’ve perhaps experimented with some pricing strategies to see what your customers resonate with best and you’ve studied your competition. But after time, you notice that you’re unable to keep up with your customers at the same speed as you were …
Increase Shopify Sales : 7 Workable Strategies
Shopify is one of much online commerce hosting sites. Though Shopify allows users to create a blog, landing, and other non-store-related pages, the primary focus is for businesses with websites hosted by Shopify is e-commerce. Shopify is an incredible platform for any and all businesses, whether they are decades old or up-and-coming. No matter the …
Basket Based Pricing: Is it Right for Your Business?
When a shopper comes to your store to purchase one item, wouldn’t it be nice if they’d also consider buying more items as well? That’s where the basket based pricing strategy comes into play. The ultimate aim is to entice your customers to buy more, whether this is through basket add-ons or recommended products. It’s …
Magento Price Experimentation: What you Need to Know
How many times have you visited a store online, looked at an item you really liked, only to find it’s well beyond what you’d be willing to pay. You end up looking a little like this… But then there are other times where something might seem very expensive to one person, but you think it’s …
Dynamic Pricing: Why E-Commerce Stores Should Use
Unlike standard static pricing, dynamic pricing is a responsive pricing strategy whereby businesses make the cost of their goods or services flexible according to market demands. Thanks to around-the-clock price monitoring, eCommerce businesses are adopting dynamic pricing in droves—and watching their bottom-line soar as a result. In this article, we’ll unpack exactly what dynamic pricing …
Shopify Social Selling: Using Social Media to Drive More Sales
There are a whole host of ways you can generate sales for your e-commerce business. You might try to drive traffic through targeted paid ads, or perhaps you’ll use SEO to help people find the products they need directly from search engines. Finally, you could consider setting up a Shopify social selling strategy to find …
Magento Subscription: Winning the Way with Repetitive Sales
It goes without saying a customer who buys from you month on month is worth more (monetary) than a customer who just buys from you once. With a Magento subscription e-commerce strategy, you can ensure customers return to purchase your products at recurrent time frames. Without going into detail, if you have a customer who …