For retail and e-tail businesses, there are significant benefits to working with pricing analytics experts who have high-level pricing analytical skills and can use a company’s data to inform pricing and create new pricing opportunities, especially in the areas of e-commerce and competitive intelligence. In this article, the author presents best practices for applying pricing analytics tactics to large, dynamic retail businesses which can be used by pricers operating in these markets.
In their recently announced move into retail grocery stores, an expansion of their existing online grocery purchase and delivery services, Amazon once again demonstrates how its primary focuses when expanding its business are unique positioning for each brand and unique value for each brand. Can you say this about your product lines and their positioning and value? Does your pricing reflect this? If not, it may be time to shift focus and resources towards addressing these areas, as the author explains.
Bryan Eisenberg recently published the book “Be Like Amazon: Even a Lemonade Stand Can Do It” (co-authored by Jeffrey Eisenberg and Roy H. Williams) outlining some of the eCommerce giant’s most successful strategies. In this article, the author explores some of Amazon’s pricing strategies outlined in the book, and provides tips for how eCommerce pricers can implement these strategies in their own pricing tests.