4 Things You Must Know About Pricing Analytics

You’ve probably heard it by now, data is the new oil.  Organisations are increasingly turning to data and its cousin, analytics, to find actionable insights that will give them the upper hand in a competitive market.

But how to get beyond the hype as the best analytics are only as good as the decision-making process it feeds into?

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How Does Competition Impact Your Pricing Strategy?

If getting the right price level in place isn’t hard enough, one thing often lost in the discussion is the impact of the competition.  Whilst this makes sense – after all very few organisations have a monopoly – there is a fine line between paranoia and ambivalence when it comes to considering competitive forces in pricing decisions.

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Why Price Tracking is Vital to Thriving in an Omnichannel World

The retail landscape is more volatile than ever before.  Okay, this isn’t exactly news, but one development which has given a lot of brick and mortar retailers pause for hope is price tracking.  This isn’t the secret shopping programs from the 1950’s and 60’s.  Instead, this is price tracking utilising advanced technologies such as artificial intelligence to give traditional retailers the help they need to thrive in an omnichannel world.

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5 Hacks To Monitor What Your Competitors Are Doing Online

Almost all businesses have competition.

Even if your idea is super-unique, crazy hard or pretty mysterious like the Antarctica’s Blood Falls, you are not immune to competition. Someone will follow your lead and try to beat you at your own game.

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How to Choose and Execute the Right Pricing Strategy

Deciding on the optimal pricing strategy for your business can be challenging. Not only do you have to keep your cost and your customers’ purchasing power in mind, but also consider what your competitors are doing. At the end of the day, your competitors are offering the same or similar products and targeting the same customers. If you don’t price your products perfectly, you can lose ground at the first step and as a result, will find it difficult to compete, let alone thrive.

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4 Ways Pricing Data Can Help Retailers Become Customer-Centric

The anonymity, breadth and speed of the internet means one bad customer experience can have a snowball effect on your business’ brand and finance. Putting the consumer at the core of all business operations has never been so critical. Customer centricty is far broader than simply providing great customer service.

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