Profitable Price Determination: How To Set in Brand New Online Store
Are you planning to start an online store? If so, you must be thinking about building an effective pricing strategy. There are different pricing approaches. They depend on various aspects of your business, like consumer behavior, product types & market values, etc. You also need to consider your production cost, business goals, and competitor’s condition. …
Supplier Search: How to Find the Best One for Your E-Commerce Store
Unless you’re making homemade products yourself, you’ll want to source a decent wholesale supplier to provide you with the products you need to sell on your e-commerce store. But finding the best supplier for your store is a struggle many e-commerce owners go through. You see with so many suppliers out there, all seemingly offering …
Single Product E-Commerce Pricing Strategy
For some e-commerce vendors, having multiple products isn’t the right path to take. Instead, they opt for a single product e-commerce store. A single product e-commerce store is simply a store that focuses on selling one thing really well. This way when someone mentions your store name, people automatically know who you are and what …
Magento Website Design: Building for Your Target Audience
Statista says that e-commerce sales worldwide totaled to2.3 trillion US$, and retailer revenues are projected to touch 4.3 trillion US$ in 2021. Now, wouldn’t you want a piece of that pie? It is time to start an online store. If that is not enough to convince you to take your brick-and-mortar store online, consumers world …
50 E-Commerce Statistics Marketers Need to Know
In today’s world of e-commerce, processes and trends are constantly changing. Keeping afloat with the latest and best ideas is the only way to get ahead. Attitude and expectations of e-commerce develop and advance and to facilitate that, we’ve put together a post of all the e-commerce statistics you need to know in 2019. When …
Profitable Magento Store: How Much Does It Really Cost?
As a platform, Magento is powerful. Sites like Graze and Kurt Geiger use Magento to power their online shops but for someone new to e-commerce, with a much smaller customer-base than these huge e-commerce stores, can you afford to run your store on Magento? In this post, we’re going to break down the cost of …
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 …