5 ways to use data and pricing tools to predict and plan for Black Friday success
So, you’re probably getting everything ready for Black Friday, right? You’re lining up some great deals and crafting those can’t-miss promotions. But as you’re preparing for one of the busiest shopping days of the year, it’s important to remember: success isn’t just about offering the biggest discounts. It’s about predicting demand and planning your strategy […]
10-Point checklist for retailers: Get ready for a successful Black Friday 2024!
Black Friday and Cyber Monday (BFCM) 2024 are just around the corner! These most awaited shopping events of the year offer an incredible opportunity for retailers to attract new customers, maximize sales, and clean up stock. But grabbing your share of the action isn’t just about slapping a discount tag on your products. It takes […]
Conquer your campaigns: Pros & cons of bundling and cross-selling
As a business owner or marketer, you’re always looking for ways to increase sales and profits. One way to achieve this is by doing bundling or cross-selling your products. These pricing strategies can be effective, but just like all pricing strategies, they also come with their own pros and cons. In this article, we’ll explore […]
Pricing Automation for a Consumer Electronics Retailer
CASE STUDY Lumise Streamlined pricing processes with pricing automation About Lumise Lumise specializes in high-quality lighting products. Their extensive range of products cater to different segments of the market, including professional, commercial, and consumer lighting products. With over a decade of experience in the industry, Lumise has established itself as a trusted name in the […]
The pros and cons of dynamic pricing for your Shopify Store
Dynamic pricing for your Shopify store can be a powerful tool when you are looking to optimize your revenue and profit. Essentially, dynamic pricing is a strategy that allows companies to adjust prices for their products or services in real-time based on various factors. Demand, competition, seasonality, and even weather conditions are all examples of […]
What is a seasonal product, and how to optimize pricing and profitability for the upcoming season?
We all know Christmas sales can be manic for retail and Ecommerce. The same goes for bikini sales in hot, long summer. But how do you prepare for seasonal product pricing, and more importantly, how can you optimize seasonal product pricing for the season’s best outcome and how to fine-tune the outcome with markdown pricing […]
How to calculate a perfect sale price after the Omnibus Directive came into force?
How do you calculate a perfect sale price for your next campaign? Running a sale like Black Friday to boost your product sales is often tempting. Earlier on, previous campaign results and estimated outcomes were enough to make a solid plan for the next sale. You probably used the same approach, most likely, every time. […]
Maximizing Profits with AI: Forecasting and Price Simulation
Before launching a pricing strategy, conduct a price simulation! In today’s world, data science and artificial intelligence (AI) have become an integral part of businesses. With the enormous amounts of data being generated daily, businesses can use AI to forecast and simulate prices. Indeed, forecasting demand and price points are essential in identifying market trends, […]
Unlocking success: Leveraging demand forecasting for optimal discount campaigns
Offering one-time discounts or setting products on sale for a longer period during a campaign can be an excellent way to encourage consumers to try new products or services, move inventory or boost sales. However, discount campaigns can be challenging to execute effectively. If you do not properly plan and execute your discount campaign you […]
Liquidating excess inventory: how discount campaigns can help
We all know that discount campaigns are a great way to boost sales, and increase your overall margins. But, did you know that discount campaigns can also be used as a means to reduce the costs associated with excess inventory? With the right kind of planning, discount pricing can be utilized to achieve many different […]