LONDON--(BUSINESS WIRE)--Infiniti Research, a world-renowned market intelligence solutions provider, has announced the completion of their latest article on the best e-commerce pricing strategies to help you grow your company.
In any business, one of the most crucial decisions that you have to make is choosing the right pricing strategy. If you get the pricing strategies wrong, then it could result in a loss for your company. E-commerce companies have recognized pricing strategy as one of the key value levers and, consequently, companies have started working on their pricing strategy, tactics, and tools in the past few years in hopes of improving their approach. With the increasing use of the internet today and smartphones, customers can differentiate prices with just a click of a button. So, the e-commerce pricing strategy that organizations choose must be one that not only gives them a good ROI but also gives a sense of ‘value for money’ to the customers.
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“The pricing strategy that companies in the e-commerce industry choose must be one that not only gives them a good ROI but also gives a sense of ‘value for money’ to the customers,” says an industry expert from Infiniti.
Best e-commerce pricing strategies:
- Loss leader pricing: This is an important pricing strategy for e-commerce companies to convert their customers into loyal customers and guarantee repeat sales. This strategy is usually practiced by retail giants such as Amazon and Walmart. The main idea behind this pricing strategy is to price certain products at a suggestively lower price than that of the competitors in the e-commerce industry. This is similar to the predatory pricing strategy that is typically followed by offline retailers. This technique not only drives traffic to the store but also helps in converting window shoppers into paying customers. To know more about our portfolio of market intelligence solutions, get in touch
- Basket-based pricing: This is a common pricing strategy that is used by players in the e-commerce industry to influence customers to make a purchase. In this technique, certain price points or products are used to incentivize customers to purchase products. For example, it is regularly seen that online retailers offer free delivery if your total basket value surpasses a particular limit. This sometimes makes customers purchase more than they would have originally planned so that they can avail the benefits. To know more about our portfolio of solutions, request a proposal
- Quick-delivery pricing: A notable example of an e-commerce industry player who has been using this pricing strategy efficiently is Amazon. The company leverages its state of the art logistics network to not only serve its customers in the shortest period of time but also to use it as a profit-making pricing strategy. They give customers choices such as next day or 2-day shipping, same day delivery, in return for an additional premium from the customers. This is a significant way for the company to keep its prices lower than the competitors but at the same time influence profitability for the business.
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Infiniti Research is a global market intelligence company offering strategic insights to help look beyond market disruptions, study competitive activity, and develop intelligent business strategies. Listed below are the best e-commerce pricing strategies to help you grow your company.
View the complete list of the best e-commerce pricing strategies to
help you grow your company:
https://www.infinitiresearch.com/thoughts/popular-pricing-strategies-e-commerce-companies
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
With 15+ years of experience and offices across three continents, Infiniti Research has been instrumental in providing a complete range of competitive intelligence, strategy, and research services for over 550 companies across the globe.
