Category Archive For "Pricing Strategies"
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 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 …
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 …
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 …
Price Escalation: What Manufacturers and Retailers Need to Know
When an e-commerce business expands, business owners naturally have more things to consider and one of those aspects is price escalation. Price escalation is when an item has a different price in a different market or location. There are many causes of this but largely it comes down to supply chain variations such as differing …
Shopify Pricing Experimentation: How to Experiment With Different Price Points
Shopify price experimentation is important no matter what stage your business is at. If you’re a new store, getting your prices right the first time is always a tricky task. You’re conflicted between wanting to charge the highest you can to ensure a healthy profit margin but also your store is newly established so you …
Premium Pricing: How to Drive More Sales in 2019
Imagine a world where you could charge more for your product’s than your competitors. Imagine a world where the perceived value of your product is so high, customers are happy to pay a higher cost. This is the case when you start implementing premium pricing. Prestige pricing is a strategy used by e-commerce vendors who …
Pricing 101: Revenue Management and Dynamic Pricing
In the world of e-commerce, you’re bound to come across terms that might initially be unfamiliar to you. You could potentially misunderstand or even misuse these terms. Doing so can be detrimental to the runnings of your business. So in this post, we’re going to look at three advanced e-commerce terms and understand what they …
Price Increases: How to Increase Prices Without Annoying Customers
In a world where increased revenues are everything for your e-commerce store, you might have toyed with the idea of increasing the prices of your products. Only, you perhaps haven’t fully dived in yet because you’re worried that increasing prices might lead to alienating customers. In some cases, you need to increase your prices simply …
E-Commerce Pricing Teardown: Dr. Axe Health & Supplement Store
When coming up with pricing strategies, especially as an up and coming e-commerce store, it can be helpful to look at how the greats already do this. Only, with all the tasks you need to complete, like finding great products, researching new ideas and coming up with marketing strategies, it’s hard to find time to …