How Real-Time Market Pricing Can Boost Business Performance

As the modern world places increasing importance on speed and flexibility, the ability to infuse real-time, highly relevant pricing and sales guidance into their sales channels can give businesses the upper hand on competitors when it comes to meeting customer expectations. Of course, as the demands of performance increase, so do the complexities of business.  Market conditions and business dynamics are changing at an increasingly fast pace, leaving companies struggling to respond to pricing triggers

How Product Pricing Online Can Influence Buying Behavior

The psychology behind ecommerce is quite amazing. I’m an avid online shopper and am often surprised at all the things that I buy that I didn’t really need but it was just too cool or too good a deal to pass up! This infographic from Wikibuy, 13 Psychological Pricing Hacks to Increase Sales, describes the impact of pricing and how buying behavior can be influenced easily with some minor tweaks. Psychological pricing is an effective

How Retailers Can Prevent Losses From Showrooming

Walk down the aisle of any brick-and-mortar store and chances are, you will see a shopper with their eyes locked on their phone. They may be comparing prices on Amazon, asking a friend for a recommendation, or looking up information about a specific product, but there’s no doubt that mobile devices have become part of the physical retail experience. In fact, more than 90 percent of shoppers use smartphones while shopping. The rise of mobile

7 Strategies Used in Pricing Intelligence Defined

At the IRCE, I was able to sit down with Mihir Kittur, co-founder and Chief Innovation Officer at Ugam, a big data analytics platform that empowers commerce companies to make real-time actions that increase revenue performance. Ugam presented at the event to discuss pricing and how companies could avoid pricing wars. By utilizing consumer demand signals collected online and building them into their clients’ pricing strategies, Ugam has been able to improve category performance by

The Joy of Clicking

Ecommerce is a science – but it’s not a mystery. The best online retailers have cleared a path for the rest of us by implementing thousands of testing strategies and providing reams of data for others to see and learn from. Today, nearly one-third of the total Internet population shops online. For retailers, this number proves the growing power of online sales. To attract these connected consumers, retailers must make purchasing on their website pleasant,