Category: Blog

How to Develop a Competitive Database to Support Pricing

May 22, 2021 2

First step The first thing you need to do when working on a competitive database is deciding what type of information you will include within it. It can be anything from the competitor analysis, sales history, product features, pricing history, and customer satisfaction surveys. It would help if you incorporated all of this data into…

Dynamic pricing engine for Retail Industry

February 25, 2021 0

Dynamic Pricing Data Requirements This strategy relies heavily on qualitative data. Whether it is your rivals’ prices, stocks, and promotions or your own sales, promotions, prices, and costs, every single variable is crucial in order to apply dynamic pricing successfully. Retailers need to gather an incredible amount of information from a number of different sources….

How can a retailer identify KVI items in stock?

June 17, 2020 2

Pricing Strategy According to a recent PwC survey, 44% of respondents made weekly purchases at offline stores in 2018, i.e. 4% more than in 2015. In addition, only 21% of respondents said that they mostly buy online Nevertheless, although offline retail still holds its position, buyers are increasingly using digital tools to find the best…

How to create a competitive pricing strategy from scratch

June 12, 2020 0

The pricing strategies you set for your goods or services are crucial for the success of your company. Maintaining control over your business is crucial. You should utilize various systems and resources to secure your company’s financial health and ensure that it is being run smoothly & efficiently. It also has a ripple effect on…