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It’s no longer OK to price a product once and mark it down once. Retail pricing is now a volatile area in retail. Often, merchants must be on their toes and ready at a moment’s notice to update product prices in order to remain competitive. New pricing solutions are helping retailers determine initial product pricing, then figure out how to adjust and readjust pricing during the entire product lifecycle.

Amazon And Sears Top List Of Most Price-Dynamic Retailers

  • Published in Pricing
Amazon and Sears are the most price-dynamic retailers, changing prices on 15% to 20% of their product assortment daily during normal shopping periods, according to research from 360pi. These figures can double during heavy shopping periods, particularly during the back-to-school and holiday shopping seasons. On the other end of the spectrum, the least price-dynamic retailers included Apple and Staples. These retailers changed prices on nearly 0% of their products. The research indicates that price dynamism varies for the majority of retailers during normal shopping periods, falling between 0% to 5% and 15% to 20%. Walmart falls into this range, as it changes prices on 6% to 8% of its assortment on a daily basis.

Tool King Puts A Hammer Down On Price-Scraping Bots With Distil Networks

Price remains a top factor for consumers, and they’re scouring the web for the best deals and offers. Retailers, in turn, are waging an all-out price war with competitors, using new tools and solutions to keep a constant pulse on prices across channels. Multichannel tool retailer Tool King recognized consumers’ heightened desire for lower prices as more store visitors asked the retailer to match Amazon prices. 

Indix Helps Retailers And Brands Keep A Pulse On Competitor Products And Prices

Brands and retailers are encouraged to keep a constant pulse on competitor products, promotions and prices, and make appropriate changes to keep pace. The product intelligence app from Indix is designed to help brands and retailers analyze real-time product information, including assortments, catalogs, prices, promotions and social feeds. Users can sift through an entire product database using keywords, UPC, SKU, ASIN and MPN, or search for specific brands, categories and stores.

360insights Offers Competitive Pricing Intelligence

The powers of the web are providing consumers with real-time access to product prices across dozens or even hundreds of retail sites at a time. However, retailers are challenged to keep a constant pulse on competitor pricing and consumer demands. To assist retailers with their pricing initiatives, 360pi has released the 360insights suite. With 360insights, retailers have access to self-service dashboard reports and easy-to-read visualizations of pricing information. The offering is designed to give retailers valuable insights into how they can adjust pricing and product assortments to increase margins and overall revenue.

FarmaCorp Implements Revionics Price Optimization Solution

FarmaCorp S.A., a Bolivian pharmaceutical retail chain, has entered a five-year agreement with Revionics to implement its Price Optimization solution.  With the Price Optimization solution, FarmaCorp S.A. will be able to adapt pricing strategies and tactics as shopper and competitor behaviors change. The retailer also will be able to align…
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Ugam Unveils Updated Pricing Engine

Ugam, a retail analytics solutions provider, has enhanced its pricing intelligence solution with an engine designed to deliver real-time pricing data for millions of products. The pricing engine monitors online retail prices and consumer signals, then combines that information with third-party data to help retailers set competitive prices. “It’s critical…
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360pi Launches New Partner Program With Tech Leaders

Pricing and product intelligence company 360pi has launched a new partner program designed to help existing partners — including Crossmark, IBM, Predictix and Rise Interactive — leverage the company’s pricing intelligence offering within their existing solutions. Program participants will have access to a detailed framework, empowering them to help retail…
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Best Buy Ramps Up Secondary Markets Division With MarketYze

Over the past year, Best Buy has increased its focus on delivering value to consumers, while striving to stay competitive in a volatile market. As part of its “Renew Blue” initiative, the electronics retailer has honed in on several key initiatives: Reinvigorating and rejuvenating the customer experience; attracting leaders and employees; working with vendor partners to innovate and drive value; and continuing a leadership role in positively impacting the world. The Secondary Markets Division of Best Buy has experienced a surge in sales and satisfaction since partnering with MarketYze, a pricing intelligence software company, to keep a constant pulse on the electronics landscape. Through a number of sales channels, including CowBoom, the Best Buy Secondary Markets Division refurbishes and resells products that were traded in, returned, or overstocked in stores.

PriceTrac Rules-Based Dynamic Pricing Solution Helps Retailers Boost Sales

Comparison shoppers ― whether at home, in stores or on the go ― continuously check online pricing for the best, most competitive deals. The ongoing evolution of the deal-savvy shopper, coupled with constant online pricing wars, has created an environment of constant change. New dynamic pricing solutions can help retailers make better pricing decisions that can protect and grow margins, not simply match price. The PriceTrac monitoring solution from Ugam now includes a rule-based dynamic pricing tool for retailers. The SaaS solution delivers more competitive price elasticity for improved margins and conversions by automatically adjusting prices throughout the day based on competitor actions and internal factors, such as fluctuating inventory and profit margins.
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