pricing intelligence in Online and Offline Retail Business

Product Movement: Pricing intelligence for retailers can guide you in pricing and let you understand the product logistics. You might be wondering why is it important. For starters, the products that a consumer uses have layers of people via whom it is reached their hands.

These layers also add to the cost of the product. So, simply put the lesser the layer, the lesser the cost, and the lesser the product's price. That’s why the product movement has a key part in deciding the price.

So, while we talk about a product movement in an offline business, commonly, the stages will be:

·       Manufactures/retailer/owner

·       Distributor

·       Dealer/wholesaler

·       Retailer

·       Retail showroom/store

·       Consumer

         And for an online retail business, the stages will be

·       Manufacturer/ marketer

·       Online store

·       Consumer

There you go. Simple and easy. The stages of a product movement in an offline business are more than that of an online business. An apt retail management system can help you manage the pricing for your business in the most effective manner.

2.   Discount Offers: Every consumer prefers a low price. So, pricing is one of the biggest buying influences for every customer. Here, as a retailer, you need to justify your pricing and the product you offer distinctively.

Now, how can you do that without compromising on your bottom line and have a powerful price optimization for retail with you all at once? The answer is competitor pricing research.

Yes, competitor pricing research can open doors for new leads and sales conversions.  It can help you in tracking the online and offline pricing of your competitors. This means that you can have discount offers and promotions when your competitors are not going for one.

This will help you tap into audiences who can avail yourself of the best price from only you.

Offers and discounts can also be offered when competitors’ prices are changing constantly. This particularly happens only in online commerce.

With PriceIntelgGuru’s pricing intelligence for retailers. You can leap ahead of your competitors.  Knowing what is sold where at what price can be great to decide your pricing strategy.

Offers and discounts also make a difference in the price difference we see in the offline and online markets.

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Ultimate Guide to pricing intelligence for retailers

Are you a start-up? Are you an established brand? Do you wish to enter the big leagues? Or trying to become a retailer brand? Are you armed with

pricing intelligence for retailers?

Online and offline prices have disparities. Online price monitoring can be done with the help of retail price optimization and competitor pricing research. But do you wish to keep tabs on offline pricing info as well? Offline pricing can be monitored and is also inevitable if your nature of business requires you to go offline as well. We will tell you why.

For instance, when we hear the name of the product, a certain range of price comes to our mind. Likewise, everybody has a price in their mind for the same product. Often, they will be different, closer but different. Wondering why that happens? Not to worry.

This blog will help you understand

-      Why is there a gap in online and offline pricing?

-      How retail price optimization can help you get better sales?

-      That competitive pricing plays a key role in offline pricing as well

-      Why is there a need for a retail management system?

-      How pricing intelligence for retail can help you monitor offline prices?

Let’s dig deeper into the retail offline pricing strategy.

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