Tag: Ecommerce

The Promise of Personalization in Retail | One-Off Sound Off

The Promise of Personalization in Retail | One-Off Sound Off

Given the personalization trend, it is not surprising that customers are comfortable getting involved with product personalization. Purchasing a tailored made product, receiving it quickly, cheaply, and to the location of their choice with full visibility into the sustainability and compliance practices of each participant in the value chain is the epitome of a personalized […]

The Dawn of AI-Driven Price Management | RIS News

The Dawn of AI-Driven Price Management | RIS News

Want to devastate your financial performance? Simple. Get pricing wrong. And yet, 42% of retailers still primarily use spreadsheets for pricing and 34% use internally built software. What’s the problem with these traditional tools? For starters, both are incapable of supporting big data, machine learning and artificial intelligence (AI). You know, science. Which is a […]

Use of personal data to ‘rip off’ online shoppers sparks inquiry | The Guardian

Use of personal data to ‘rip off’ online shoppers sparks inquiry | The Guardian

The government is launching an inquiry into the use of personal data to set individual prices for holidays, cars and household goods, amid rising fears of a consumer rip-off. The research, supported by the competition watchdog, will explore the prevalence of “dynamic pricing” based on information gathered about an individual, such as location, marital status, […]

Workshop: Data Monetization: A Practical Roadmap for Framing, Pricing, and Selling Your B2B Digital Offers 26-Nov | Stephan Liozu, CPP

Workshop: Data Monetization: A Practical Roadmap for Framing, Pricing, and Selling Your B2B Digital Offers 26-Nov | Stephan Liozu, CPP

DESCRIPTION (Level 600 Workshop) The digital revolution promises trillions of dollars in created value by 2030. Consultants and researchers are projecting massive disruption in industrial sectors. As a result, PwC states in their DigitalIQ report that 73% of executives are investing in internet of things (IoT) and 54% in artificial intelligence (AI). ABB predicts that […]

Online grocery shopping, spend poised to climb | Supermarket News

Online grocery shopping, spend poised to climb | Supermarket News

More than half of U.S. consumers are projected to be shopping online for groceries next year, and those who do are expected to boost their spending, according to KPMG’s 2018 Grocery Retail Consumer Perception Survey. Of more than 2,000 grocery customers polled, 48% currently do some or all of their grocery shopping online and 59% […]

‘Dynamic pricing’ takes hold in Japan | NHK World – Japan

‘Dynamic pricing’ takes hold in Japan | NHK World – Japan

An increasing number of businesses in Japan are setting prices of their goods and services based on the level of demand. The practice is known as “dynamic pricing.” Tickets for Japanese professional baseball games were recently sold this way through the Internet. Visitors to the home stadium of the Fukuoka SoftBank Hawks paid different prices […]

Prices are becoming more uniform and that’s to Amazon’s advantage | Digital Commerce 360

Prices are becoming more uniform and that’s to Amazon’s advantage | Digital Commerce 360

While e-commerce is driving retailers to change prices more frequently, it is also leading to more uniform pricing across online and offline retailers, according to a new National Bureau of Economic Research working paper by Alberto Cavallo, Harvard Business School professor. Those conditions are giving consumers less reason to comparison shop since it’s unlikely they’ll find a […]

Should I Publish My Prices On My Website? | Klood

Should I Publish My Prices On My Website? | Klood

Many businesses spend hours debating whether or not to publish their prices online. So what’s the answer? My invariable advice is that you should always be open and transparent in your pricing. People on your website want to know. Think about the last purchase you made. Once you’d set your sights on the product or […]

Predictive Analytics: Optimizing Pricing And Promotions In E-Commerce Means Combining Tools | Retail TouchPoints

Predictive Analytics: Optimizing Pricing And Promotions In E-Commerce Means Combining Tools | Retail TouchPoints

Most retailers are already engaged in data analytics and predictive modeling. Today, using data to predict more successful outcomes — ultimately leading to increased sales — is not as mystifying a concept as it was even a year ago. But with a market being upended by an omnichannel imperative and consumer demand for instant gratification, […]

Why Dynamic Pricing is Important for E-commerce Retailers | The Inscribe Mag

Why Dynamic Pricing is Important for E-commerce Retailers | The Inscribe Mag

Want your pricing system to adjust to market conditions in real time? Want to keep up with your competitors 100 percent of the time? Dynamic pricing might just be your savvy solution! Also known as demand pricing or time-based pricing, dynamic pricing is a variable pricing strategy which changes in response to real-time demand and […]