There is no doubt that price is the most important factor for consumers when paying for a product or service. It’s no surprise that 60% of internet users in the U.S. agree that price is more important than brand when buying a product. So, the...
It’s not easy when you try to enter a new market or start selling a product or service while your competitors are already offering something similar. There are a few ways to successfully perform this task, and perhaps the most common one is by a...
Category management is a crucial process for an eCommerce business involving organizing and managing groups of related products to maximize sales and improve customer experience. Category management is not a one-time implementation. It is an ongoing process that requires a deep understanding of the marketplace...
Machine learning (ML) and Artificial intelligence (AI) are no more a novelty in the retail world. Machine learning in retail has been present for quite some time, especially in the case of big companies that rely on online sales. However, it’s a common misconception that you...
When studying marketing mix, you will learn that out of all elements, 4Ps or even 7Ps, only one element directly generates revenue. Now, can one P be more significant than others in the marketing mix? Can you create a good marketing strategy without considering each P...
One of the most popular terms in the eCommerce world is a price monitoring tool. While some cannot imagine the functioning of their business without such a tool, others are still skeptical and consider whether they need it. If you are in doubt about whether you...
In the last decade especially, technology and the internet's impact on business has become huge, while adaptation is inevitable. Business professionals were forced to modify or even completely give up on some of the traditional methods and strategies of business management to adapt to changes...
If you are not selling, then you are most likely buying goods and you probably noticed barcodes. Were you ever wondered what those are and what they represent, all the numbers and bars of different thicknesses and patterns? Do you know that there are around 100...
The world is hit by crisis after crisis, and both governments and economies are trying to find adequate answers to current geopolitical events. Although inflation is one of the most used words recently, the answer to the question of how to oppose it still eludes...
Economists would say that demand dictates the price - it’s as simple as that. Apart from economists, the transportation industry has agreed with this statement for years. That’s how a surge pricing strategy kept fueling one debate since the 1950s. Is it foolish to expect fairness in...