Demand Forecasting: Importance, Benefits and Driving Factors
Demand forecasting is often seen a complex task, yet, in a data-driven world it is easier than you think. You may need to know how much revenue and profits your pricing campaign is expected to generate. Likewise, how much your dynamic pricing requires inventory and how often you need to replenish stock. Demand forecasting answers […]
Identifying and Choosing Key Value Items for Effective Pricing Strategy
The digital era has transformed the retail landscape, making pricing a vital aspect of a retailer’s strategy. Pricing decisions directly impact customer engagement, loyalty, and overall business outcomes. In this rapidly evolving environment, understanding Key Value Categories (KVCs) and Key Value Items (KVIs) is essential. This lesson will guide you through the process of identifying […]
Leveraging Product Groups in eCommerce: A Strategic Approach to Pricing
Strategic utilization of product groups in ecommerce is a key factor creating and leveraging for effective pricing strategies for online businesses. In this article, we will dive into the concept of product groups and explore how they can improve your business and your ecommerce product pricing. Get ready to take control, optimize like a pro, […]
Impact of Profit & Revenue Share on eCommerce Product Pricing
In the world of eCommerce, having a deep understanding of profit and revenue share for each product can significantly impact the success of ecommerce product pricing which directly affects the growth of your business. In this article, we will explore the importance of these metrics, take a look at the different roles that products play […]
Understanding the Fundamentals of Product Pricing
In the fast-paced world of eCommerce, understanding the fundamentals of product pricing is not just essential — it’s a must. Unlike traditional retail, eCommerce presents unique characteristics that significantly impact how businesses approach their product pricing practices. In this blog post, we will go through the practices for successful product pricing strategies that can lead […]
Pricing Strategy Must-Haves: Crafting Effective Pricing Strategies for Ecommerce and Retail Businesses
Having a clear pricing strategy is essential for ecommerce and retail businesses. It serves as a guiding framework that aligns pricing decisions with the overall marketing positioning of your brand. In this blog post, we will explore the must-haves for creating a successful pricing strategy, covering key aspects such as overall strategy, pricing reflection, frequency […]
How to unleash pricing automation with comparison filters
In an increasingly competitive marketplace, making data-driven decisions is more important than ever. Understanding this critical need, we at Sniffie are thrilled to announce our latest automation feature called the Comparison Filter. This powerful addition to our automation toolkit has been meticulously designed to ensure you can manage and strategize your product pricing and inventory […]
Unlocking Success: Leveraging Demand Forecasting for Optimal Discount Campaigns
Offering one-time discounts or setting products on sale for a longer period during a campaign can be an excellent way to encourage consumers to try new products or services, move inventory or boost sales. However, discount campaigns can be challenging to execute effectively. If you do not properly plan and execute your discount campaign you […]
How to Show Omnibus Prices on Your Website?
As the EU’s new Omnibus Directive is in force, the legal requirements mean you must change the way you display your product prices on your websites, especially discounted prices. Before we go into more detail on how you should show your product prices on your site, let’s take a quick recap on what exactly is […]
Price Intelligence for Ecommerce: Why does it matter?
In the booming e-commerce era, price intelligence has become crucial for businesses to succeed. So why does it matter for your e-business, and how can you implement it successfully? Let’s take a look. What is price intelligence? Why is price intelligence important for e-commerce? What are the benefits of price intelligence for e-commerce? How can […]