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Weldon Whitener | Pricesearcher | The power of pricing data | LeoVegas

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Weldon W. Whitener, the former Head of Pricing at Amazon UK, showed us the importance of having a price driven strategy with pricing data.

We find out how it is operated at the highest level, how to stay stay on top, and the tools we’ll need to drive our business to the next level!

Published in: Marketing
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Weldon Whitener | Pricesearcher | The power of pricing data | LeoVegas

  1. 1. Weldon W. Whitener, PhD @pricesearcher PRICESEARCHER.COM
  2. 2. ABOUT ME @Pricesearcher #ElevateBrighton
  3. 3. @Pricesearcher BACKGROUND Pricesearcher is a vertical search engine Our mission is to provide access to all the world's prices in one place. #ElevateBrighton
  4. 4. @Pricesearcher OUR MISSION IS TO INDEX ALL THE WORLD’S PRICES #ElevateBrighton
  5. 5. @Pricesearcher PROGRESS TO DATE Gathered data on 1.3 billion products Online in 12 countries Gathered 91 Billion price points for our products On average we check the price of a product 3 times a day We have gathered: 17,000,000 ISBNs 144,000,000 MPNs 73,000,000 SKUs 157,000,000 GTINs #ElevateBrighton
  6. 6. @Pricesearcher WHAT FACTORS AFFECT A CUSTOMER’S PURCHASING DECISION #ElevateBrighton
  7. 7. @Pricesearcher WHAT FACTORS AFFECT A CUSTOMER’S PURCHASING DECISION #ElevateBrighton
  8. 8. @Pricesearcher WHAT FACTORS AFFECT A CUSTOMER’S PURCHASING DECISION #ElevateBrighton
  9. 9. @Pricesearcher WHAT FACTORS AFFECT A CUSTOMER’S PURCHASING DECISION #ElevateBrighton
  10. 10. @Pricesearcher WHAT FACTORS AFFECT A CUSTOMER’S PURCHASING DECISION #ElevateBrighton
  11. 11. @Pricesearcher HOW PRICING STRATEGIES DIFFER ACROSS CHANNELSHIGH STREET STRATEGIES #ElevateBrighton
  12. 12. @Pricesearcher E-COMMERCE STRATEGIES HOW PRICING STRATEGIES DIFFER ACROSS CHANNELS #ElevateBrighton
  13. 13. @Pricesearcher PRICING FIRST STRATEGY ALIGNS TO CUSTOMERS PURCHASING PATTERNS I use price comparison sites when searching online for items I want to buy 80% Statement Response rate I use search engines like Google/Bing to compare prices on items I want to buy 65% On average I look at three or more websites before making a purchase online 79% #ElevateBrighton
  14. 14. @Pricesearcher Which top five sites did people visit immediately before this site? CUSTOMERS ARE CONTINUALLY LOOKING FOR A BETTER DEAL #ElevateBrighton
  15. 15. @Pricesearcher SO WHAT DO I DO WITH THIS INFORMATION? #ElevateBrighton
  16. 16. @Pricesearcher • • • • • • PRICE AWARE MARKETING (PAM) SHOULD BE KEY TO YOUR STRATEGY #ElevateBrighton
  17. 17. USING PAM TO INCREASE CONVERSION AND PROFIT
  18. 18. USING PAM TO INCREASE CONVERSION AND PROFIT
  19. 19. USING PAM TO INCREASE CONVERSION AND PROFIT
  20. 20. USING PAM TO INCREASE CONVERSION AND PROFIT
  21. 21. @Pricesearcher TOP 3 Data Insights from 1.3Bn e-commerce Products #ElevateBrighton
  22. 22. @Pricesearcher PRICE CHANGE FREQUENCY 4.06Bn price changes globally Since September 2018, number of price changes? #ElevateBrighton
  23. 23. @Pricesearcher Country with most price changes per product? PRICE CHANGE FREQUENCY #ElevateBrighton
  24. 24. @Pricesearcher Country with most price changes per product? PRICE CHANGE FREQUENCY #ElevateBrighton
  25. 25. @Pricesearcher Average number of price changes per product? 3.30 3.31 2.28 3.02 PRICE CHANGE FREQUENCY #ElevateBrighton
  26. 26. @Pricesearcher Data Source Pricing Owner 6 months to make a difference SO WHAT IS NEEDED TO SUCCESSFULLY DEPLOY PAM? #ElevateBrighton
  27. 27. @Pricesearcher THANK YOU weldon@pricesearcher.com #ElevateBrighton
  28. 28. Pricesearcher The UK’s most comprehensive source of price data

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