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Competition Strategies The WisePricer Blog

Your Brand is Either on Social or Falling Behind

Social media is more than a fad in online branding. It’s an opportunity to construct your brand’s identity on social platforms that consume 22.5% of the time U.S. citizens spend online. A brand can use social media as a way to advertise products, grow customer loyalty, target influencers, and stay relevant. They can even serve as a springboard for sales, as products sold on social media are increasing at a rate of 93% per year.

Here are a few things that successful social brands have in common:

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Make Your Brand’s Online Presence Put in Work

The eCommerce industry is booming and it saw a 20% increase in revenue in 2013. One of the key ways to improve market share is to have a solid brand identity. There are five channels that have a large impact on it: brand website, search marketing, mobile content, social media, and email marketing. Consumers look your brand up… all the time. The internet is an opportunity to build and change brand identity for free.

These are several ways that the internet is shaking things up for brands worldwide. Here are a few of the highlights:

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Why Shoppers Prefer Kitten Videos to Completing Purchases

Consumers are leaving their carts like crazy and getting them to check out can be a challenge – but the good news is that 75% come back. This issue is increasing year over year, so let’s get you up to speed on what this means. There are a variety of reasons why 68% of shoppers decide to abandon their carts, but there are several ways retailers can get them to return. While the reasons might be complicated, the impact is not. Global retailers are losing $3 trillion in sales each year. The strategy is to turn those warm leads into customers by making check out secure, consistent, and appealing.

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No More Lonely Carts: Treating Cart Abandonment

Cart abandonment is an unfortunate phenomenon affecting retailers worldwide. Could you be suffering from this condition?

Symptoms:

1. An average of 68% of shoppers on your site don’t complete their purchases.

2. Your revenue is suffering.

3. You wish you knew how to get these shoppers back on your site to complete their purchase.

Here at WisePricer, we’ve got the cure. Luckily, there are ways to get these abandoners to return to their cart. Here are a few highlights from our latest infographic:

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The US and EU Walk into a Bar…

ICYMI: eCommerce is taking over the globe. Online retail is growing like crazy because who isn’t interested in getting the things they want and need delivered to their door step?

1.5 trillion

eMarketer. Global B2C Ecommerce Sales to Hit $1.5 Trillion This Year Driven by Growth in Emerging Markets. 2014.

Very few people. Total online sales globally are expected to reach an amazing $1.5 trillion this year. Emerging markets are largely fueling that wildfire expansion. Developed markets are key players in sustaining strong sales and are growing in influence year over year. There’s a bit of a rivalry going on in the eCommerce industry and I’ll let you in on the most important aspects to see who is winning. The United States and Europe are competing to see who can get more online sales and growth. Let’s be real, though, China is kicking both of their butts.

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Counterfeiting: When Imitation Isn’t the Highest Form of Flattery

Strong brand identity is integral to great businesses, but they are threatened daily by the counterfeiting industry. Counterfeiting operations can be incredibly sophisticated and lucrative. They are having more of an impact than ever, as both globalization and eCommerce continue to grow. Falsely branded products decrease brand value and cut into sales of authentic goods. Price-sensitive consumers are also tempted by counterfeits, since they provide an opportunity to get a similar product at a much lower price.

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Modern Day Price Wars: How to Stay Competitive

Online retail is an increasingly competitive market, especially as retailers get pulled into price wars that are becoming highly technology-driven. Luckily, WisePricer’s new infographic addresses a solution. It outlines what’s driving the changing nature of price wars, why retailers are employing price intelligence and dynamic pricing technologies, and tips for successful implementation of such strategies.

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[infographic] MAP Abuse: Are You Protecting Your Brand?

Manufacturers use MAP (Minimum Advertised Price) to protect brand image, maintain retail value, and keep margins ideal for resellers. However, for the manufacturer that produces and distributes thousands of products, policing the retailers who sell your products can be a time consuming challenge. As a result, a majority of resellers violate the MAP at least some of the time. This infographic outlines the prevalence of MAP abuse, why it matters, how retailers are bypassing it, and the top 3 ways manufacturers can fight back.
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Amazon Suits Up

Coming soon to an Amazon website near you…. J. Crew khakis, Ralph Lauren polo shirts, Lord & Taylor suits, Abercrombie & Fitch Co., Neiman Marcus Group Inc. and more! Amazon is in talks with these well-known retailers (and several others) to start offering their products on Amazon. For retailers, selling with Amazon has always been a bit of dealing with the devil… even when Amazon carries their product.

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Loss Leading in an eCommerce World

Revenues up by over 20%, stock price increased over 25% over the course of the year and yet… for two of the four quarters of 2013, Amazon posted a loss. Despite what would otherwise be a possibly alarming trend for most companies, analysts have been expecting Amazon to return to profitability and the stock price fell by less than 2%. How can it be that with an increase in sales revenue of over 20%, Amazon managed to operate at a loss? And why would repeated losses like this not have a bigger impact on their stock?

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