Monitoring competitors’ prices is a key element when implementing an online store’s pricing strategy. Prices can change dynamically, especially during promotional periods, before Black Friday and holidays. How can you effectively monitor competitors’ prices and adjust prices in your store accordingly? We’ll explain this in a moment.
The price of a product is an important factor influencing customer purchasing decisions. However, it is not about which store offers the lowest price.
It is also important whether the price of the product in your online store seems attractive to the customer – to put it simply, whether the price is adequate to the quality of the product you offer and the prices of your competitors.
Pricing strategies then and now
For example, what if a competitor offers the same product at a promotional price? Often Whatsapp Database you will want to respond appropriately on your part. Using price monitoring tools, you can keep track of these changes and adapt your promotions to them.
After implementing a PWA web application, AliExpress didn’t have to wait long for promising results: the number of pages visited per browsing session doubled, time spent per session increased by 74% , and the conversion rate of new users more than doubled . Today, AliExpress is a model example of the huge success of PWA, setting a new standard for mobile user service.
Competitiveness of the online store
This means that negotiating the price individually can be difficult. In such a case, it is worth using the BI Lists support of a broker who has negotiated the best possible conditions. There is something to fight for! In the world of digital commerce, profit margins are often very low – every penny counts. Thanks to cost-effective shipping, we can optimize the process to enjoy noticeably greater profits.
Pop-ups are still very popular and are a good way to acquire new customers.
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