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Price differentiation

What is price differentiation?

Pricing is a crucial aspect of any business, particularly ecommerce and retail. Why? It affects both customer acquisition and retention. One concept that has gained traction in recent times is “price differentiation.” This involves the practice of offering different prices to different segments of customers, based on factors like location, demographics, and buying behavior.   […]

Sales volume

Sales volume

In general sales volume refers to the total amount of goods or services sold over a certain period of time. It is a key metric in determining a business’s financial performance and growth potential. An increase in the volume indicates that a business is gaining market share, reaching new customers, or successfully promoting its products […]

Stock level

stock level

In general stock level, also known as inventory level, refers to the amount of a specific product or products that a business has on hand at a given time. It is a key metric in inventory management and helps businesses ensure they have enough stock on hand to meet customer demand without overstocking and tying […]

Markdown pricing

Markdown pricing

Markdown pricing is a common pricing strategy in the ecommerce and retail industries. It involves reducing the price of a product to clear out stock, make room for new inventory, or to boost sales. Markdown pricing is a valuable tool for businesses to manage inventory, boost sales, and increase profits. Benefits of markdown pricing One […]

Price elasticity

price elasticity

Price elasticity measures the change in demand when you change price of a product up or down. Price elasticity is an important factor to understand when you price your products. It helps you to set prices that capture the demand and let you optimize your market share.  Price elasticity refers to the extent to which […]

Odd pricing

Odd pricing

Odd pricing is a pricing technique that involves setting prices in odd numbers such as $0.99 or $1.97 instead of round numbers like $1 or $2. The goal of odd pricing is to make the product seem more appealing, as consumers tend to view odd prices as being cheaper or better value than even prices. […]

Markup pricing

Markup pricing

Is a pricing strategy that involves taking the cost of a product and adding a certain percentage on top of it to set the final selling price for a product. This method is used by many businesses as it provides a straightforward and predictable way of setting prices, and helps to cover costs and generate […]

Omnibus price

An Omnibus Price is the lowest price that a consumer has been able to buy a specific product for during the past 30 days prior a campaign takes place. As the EU’s new Omnibus Directive is in force, the legal requirements mean retailers must change the way they display their product prices on their websites, especially […]