The low barriers to entry in the online retail business create fierce competition: and thus, optimized pricing is of paramount importance to ecommerce firms.
PriceBeam’s services help online retailers identify willingness to pay for their products and maintain competitive and sustainable price levels. Moreover, ecommerce firms can leverage their unique access to customer information by using PriceBeam to identify segments with high willingness to pay, and base the composition of their target group on this information.
We also help ecommerce firms that sell thousands of products create price-bands which they can use to guide the pricing of remaining products, and greatly improve accuracy of your pricing.
Typically, ecommerce firms come to PriceBeam to:
- Measure willingness to pay for core products
- Create price-bands to guide the pricing of your entire product range
- Identify segments with high willingness to pay
PriceBeam’s solution will conduct extensive market research, collect data and provide a comprehensive analysis of your customer’s willingness to pay for your product in the form of an interactive willingness to pay graph. You can use this data to understand what price points will maximize sales, revenue and profits respectively; whatever your objective, we help you meet it!