Challenges in Ecommerce Pricing
The exponential growth of E-commerce across the retail environment globally is creatoing opportunities to gain valuable insights into their product assortment and pricing mix not only at a category but also at an individual SKU level. Pricing in Retail/E-commerce has long been one of PriceBeam’s primary areas of expertise.
Creating SKUs is important in ecommerce for various reasons like eliminating inventory management errors , improving store merchandising and enhancing the shopping experience, as well as boosting profits and improving vendor-merchant communication.
Retail/E-commerce companies benefit from price optimization more than any other industry, but at the same time, it is often an incredibly challenging task. When pricing individual SKU´s it is invaluable to take into consideration various aspects of the products in question such as the product purchase date, cost and storage information, and the unique number of products.
Only as little as 12% of consumer brands have a winning pricing strategy. Thus, the demand for our services in this industry is high and consequently, we have grown in expertise with the many projects we have done.