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Repricing Advantage in E-Commerce

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Repricing can work wonders for your E-commerce business.
Airlines have done it; hotels have done it, and now e-commerce is doing it! Wondering what these three have in common? Here’s a hint – it’s the pricing strategy. If you have thought cloud has gathered around dynamic pricing, then bingo! Whether you like it or not, dynamic pricing has found its niche in online marketplaces. If you are still wondering what dynamic pricing is, don’t be disheartened because you already know what it is, you just didn’t know its technical name. Read on to learn more about dynamic re-pricing advantage in ecommerce and find out why it is thriving in the e-commerce industry.

Read the full blog here: http://suyati.com/the-re-pricing-advantage-in-ecommerce/

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Repricing Advantage in E-Commerce

  1. 1. Dynamic is the watchword  Whether you like it or not, dynamic pricing has found its niche in online marketplaces.  Dynamic pricing is a flexible pricing strategy wherein the cost of a product or service changes in response to real- time changes in supply and demand in the concerned market.
  2. 2. Dynamic Pricing and Price Discrimination  Price discrimination is concerned with price changes based on customer’s demographics  Dynamic pricing focuses on price changes depending on fluctuations in the demand and supply in the market.
  3. 3. Big Data And Repricing  Relevant and accurate data along with fast and reliable technology does the magic.  With the emergence of big data analytics, automatic repricing according to predetermined rules could be done at a minute level.
  4. 4. Additional Features Enabled by Big Data  Provides info on product availability, shipping charges and the level of demand.  Advanced options like optimizing the pricing to comply with already set rules are also enabled.
  5. 5. The fruits of real-time pricing Product awareness Competitive intelligence Valuable insights Pricing recommendations Track results
  6. 6. Product awareness Meaningful analysis of data bestows the retailer with the knowledge of similar products in the market, their availability, demand and pricing.
  7. 7. Competitive intelligence If you know your competitors, your customers and your current market, then you are equipped with competitive intelligence that makes you capable of wise decision-making with regard to pricing of your product.
  8. 8. Valuable insights The software lets you decipher the real-time market and gives you valuable insights into the patterns and emerging trends in the market helping you stay a step ahead of your competitors.
  9. 9. Pricing recommendations Your software not only interprets enormous data for you, it can also put forward suggestions or pricing recommendations that would work best for you
  10. 10. Track results Repricing software gives you information regarding how effective your present pricing strategy has been and the profit you made because of it.
  11. 11.  Some customers feel that constant change in pricing makes the product less trustworthy.  Furthermore, every retailer must ascertain that the repricing software he is about to use is efficient Things to Keep in Mind
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  13. 13. That’s not all, feel free to share this information
  14. 14. For any queries on eCommerce
  15. 15. Suyati provides marketing technology and integration services for companies that wish to combine the best of breed solutions and create a unified approach to customer acquisition. This unified digital marketing approach requires system integration between various CMS and CRM platforms, and a slew of eCommerce, Marketing Automation, Social Media Listening, email and social marketing, and customer service systems. Our specialized knowledge in Salesforce, open source and .Net based systems enables us to build effective custom integrated solutions for our clients.

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