Pricing Strategy

Pricing strategy is a crucial aspect of your ecommerce business and calculating the best price for your product can be a delicate task. Pricing too high can lead to lost business, pricing too low can eat into your margin and profit. Determining the optimal strategy can be challenging and we are here to help.

There are many factors to consider when formulating your pricing strategy. These include:

Costs – Cost Price, Advertising, Shipping, Packaging, Business Overheads

Margin – Margin not only affects your profit directly, but it also can influence the amount of money you can spend on advertising.

Competitor Pricing – To remain competitive and generate revenue, monitoring competitor prices is crucial.

There are other factors but balancing the three above will give you a good foundation to build on.

Most of the required data is readily available within the business but as ecommerce becomes increasingly competitive, keeping track of competitor prices effectively becomes more challenging. To address this, we have partnered with one of the leading providers of dynamic price monitoring software.

Our superior service combines data analysis with commercial strategy to help build the optimal strategy for your business.