Repricing/Dynamic Pricing Rules
Automate your pricing strategies according to all your products, a specific category of products, or products with a particular brand compared to a specific competitor or all your competitors. We’ve provided some common scenarios below to help you with your pricing strategies. However, the possibilities of your pricing rules are endless to fit all your needs.
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Compared to when online selling took over the world, consumer habits changed over the years:
– Shoppers are highly price sensitive. They compare online prices so easily.
– Seasoned sellers know they must compete on price due to price wars
– Prices change frequently
– Small businesses often maintain the same prices for extended periods, making it difficult to compete on price and giving shoppers the impression that they are too expensive, ultimately resulting in lost revenue.
Repricing with dynamic pricing offers the potential for increased profitability. It allows you to position your products strategically, market with less effort, and enhance profitability at your discretion. Use this strategy, and you’ll see what you’ve missed.
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