Sales will increase sharply — how much?
Let’s look at specific examples.
“Happy Look”, which is one of the three largest optical chains in Russia
Increased its online turnover by 32%, the average bill by 20%, and the number of online orders by 14% in three months. All this was achieved only through automated pricing; marketing activities and product range did not change. The growth began in the first week after automation.
Customer indicators after starting to use Imprice
The online store of a small sports nutrition chain Gold-Standart.
Using only one automated method, pricing by KVI, increased its gross profit by 20% in two months.
Improved the ROI of advertising on Yandex.Market, and increased the efficiency of the product matrix and purchases.
At the end of the text, we will analyze the case of “Happy Look” in detail.
KVI are indicator products by which customers define belgium phone number data your store: “there is a good selection here” or “they never have
half the products they need”, “the prices are usually normal here” or “they are prohibitively expensive”. Stores usually know only 20-70% of their KVI, which is why they lose sales and customers: if you don’t know, you don’t maintain their availability and correct prices.
How to raise prices and sell more. We show you using competitive pricing as an example
There is a myth that dynamic pricing is about discounts. We monitor competitors and set the lowest prices.
No. Trying to set prices for all products lower than all market players is a losing path for companies with low or no automation of pricing. Even when working in a super-competitive market, dynamic pricing looks for prices that can be raised.
How to improve your pricing policy
First, you stop setting prices for the entire market.
Why should you take into account dumping stores X and Y if it is your customers who avoid them? Let’s say store X often sells fakes, and store Y has a 2-week delivery time versus your “delivery on the how to gather psychographic data day of order” offer. X and Y do not affect your sales; by including their prices in your price calculations, you lose part of your profit – and that’s it.
You need to figure out your real competitors and match their prices only.
Second, you stop setting low prices on all products in a row.
We will reveal a secret from the practice of our clients: too low prices india data in a number of product categories only scare off customers and reduce your sales. “Something is wrong here,” the buyer thinks, “they will deceive or palm off God knows what.”