5 Things To Consider When Defining Competitors For Price Monitoring

5 Things To Consider When Defining Competitors For Price Monitoring

[Guest post by Daria Samokish] Who can tell the Category Manager how to correctly define competitors for price monitoring or what is in fact, competitive pricing analysis? We aim to raise the relaxing smile on your face [with this article] telling you how to build a pricing strategy towards competitors and grow the KPIs without growing white hairs. Shown:Without white hairs Competitive Pricing Analysis E-commerce retail market is highly competitive, so a Category Manager is engaged with general strategies to counteract the activities of competitors. According to the latest PWC research, price is the key factor of a purchasing decision. Well, let’s make the best use of competitive pricing intelligence. Surely, while making a competitor’s analysis you are guided by the following points: Detect the competitors actually affecting your sales. Find your price positioning towards market price/competitors’ prices. Sell some products at a higher price without a loss of profit. Define the most sensitive product categories to each of the competitors’ changes. Save the time...
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The Future of Online Retail: Digital Customers’ Experience 2.0

The Future of Online Retail: Digital Customers’ Experience 2.0

[Guest post by Daria Samokish] Every marketing or pricing manager has at least once seriously thought about online retail’s future. Over the last few years, digital experience has made an online store's competitiveness highly dependent on a customer rather enterprise itself. Everybody is welcome to use a mobile app for barcode scanning, directly compare prices online, search the ratings and reviews on desired products or services. As a consequence, omnichannel access to information continuously affects an online store’s reputation, hence the customer’s perception and behavior at an amazing pace. Alexandr Galkin, Co-Founder and CEO of Competera “Customers are no longer receptive to the traditional lock-in procedure. It’s time to cover multiple sources with pertinent customer information to deliver a more personalized and memorable experience.” Since customer behavior and preferences are constantly shifting, e-commerce retail should find new approaches to provide unique shopping experiences, communications and offers to the consumers. We’ve collected the most recent tricks of consumers and solution tips for forward-looking customer experience management....
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A One-touch Game: Chat Bots in Online Retail

A One-touch Game: Chat Bots in Online Retail

[Guest post by Daria Samokish] Taking a part at last conference team-members of Competera received a fine question: “What will eventually happen with online retail business in late 2016 – early 2017 as a result of active IM bots development?”. Let us sort out this issue. The artificial intelligence representatives are treated like assistants in daily work, helping to save time and money for various kinds of operations (let’s take the bot which has helped adjudge about 3 million pounds from the government for improper parking fines). Online retail business will join this game sooner or later and it will rebuild the internal processes of their work itself. Messengers Revolution Constantly growing popularity is linked to several mutually supportive factors: in our “accelerating” world, any unscheduled call, especially made during working hours becomes less and less desirable; although users are eager to constantly stay in touch but they dislike when their personal space is violated. And messengers do solve both issues, providing “streamed” communication and...
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