With a look at which strategies work best and examples from retailers of all sizes, there’s a lot to learn from the “WiseGuy’s Guide to Online Retail Pricing Strategies” from Wise. Here are a few reasons to download and give it a read:
- Price Perception: Not quite a pricing strategy, but how shoppers believe you’re priced compared to your competitors has a big impact on whether they’ll buy from you or not. Before implementing a new pricing strategy, consider how it will impact your brand value and price perception.
- Dynamic Pricing: This strategy is all the rage right now and Amazon has thrown it into the spotlight. With optimized and automated pricing 24/7, what’s not to love?
- Bundling: One of the main reasons that consumers shop online is because of the convenience factor. Why not make their lives even easier by bundling (and slightly discounting) all the products shoppers usually buy together? It’s a win for them and certainly a win for your average order value.
