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Dynamic pricing on the right range for maximum profitability

A laundry

Successful dynamic pricing requires a proper analysis of competitors and product selection, in order to set up a functioning price monitoring in the next step.

Dynamic pricing comes from the fact that price is one of the most important components of online sales success.

With a developed pricing strategy, e-tailers can both increase sales and profitability, as well as develop their range and streamline your marketing.

In this episode of the podcast Ehandelstrender, presenter Urban Lindstedt talks to Martin Granberg, Chief Strategy Officer of the Saas company Priceindx.

Dynamic pricing is necessary for e-tailers in segments where price comparisons are standard. After an analysis of the competitors, a clear strategy is developed that suits your brand

In pricing, several factors must be considered, such as the competitor's price, the store's brand and the balance sheet. Based on the competitors' prices and the pricing strategy, a number of rules and software are then set up to "scrape" the competitors' prices.

The competition analysis also provides opportunities to find gaps in your own range that can be filled with your own brands.

And price robots have not pushed prices down to the zero margin previously feared. The right price does not have to be the lowest price.

Read article at springboard.no

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