Digital Commerce 101: Understanding pricing

Sets out the importance of intelligent pricing in the world of e-commerce.

Setting a price for your online product is all about knowing what price your competitors are selling a similar item for. Even if your price point is justifiably higher, perhaps because of extra features, better quality, faster delivery, add-ons and so on, any premium will still be set relative to the competition.

This is where pricing reports come in.

Big online retail platforms, such as Amazon, and major supermarkets keep tabs on the price of items across rival retailers using a competitive mapping tool (CMT). Such a tool gives the retailer the opportunity of quickly matching, or beating, the lowest...

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