This Week in Retail – Episode 4

THISWEEKINRETAIL

From home improvement to high fashion, there were big announcements in the retail industry this week. First, Home Depot announced its 2014 numbers, and they were not disappointing. Online sales grew 37%, making up 25% of its growth and adding $1 billion to their bottom line. This shot their stock prices sky high, and left many stakeholders very happy. Neiman Marcus also announced big news this week. The fashion retailer announced it would install beacons in their brick and mortar…

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An Inside Look at Wiser’s Analytics Feature

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Being aware of the competitive landscape and repricing are great, but they’re nothing without analytics. This is what really holds WisePricer together and makes sure that retailers can maximize their ROI. So what’s the best way to use it? It all comes down to the data. While this is often viewed as just the latest buzzword, it’s so much more than that. Wiser’s analytics feature can show how your repriced products are affecting your business’ bottom line with exportable data.…

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Psychology is Your Pricing Strategy’s Best Friend

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*The following is a guest post from MageCloud.   There’s a lot of work that goes into pricing your product. That’s especially true if you’re pioneering a new market with no competition and you don’t have any products’ prices to refer to. But eventually there comes a time when you will have to reconsider the pricing of your goods or services. There are various reasons for this: a shift in the demand, the exchange rates (this is especially true, if…

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This Week in Retail – Episode 3

The retail industry is constantly changing week after week. This week, Some of retail’s biggest hitters had big announcements. First, Amazon announced it will sponsor Men’s Fashion Week in New York City this Summer. Analysts believe the move comes in hopes to promote the marketplace’s fashion-conscious sites like Amazon Fashion. The second retail giant with big news this week was Walmart, who announced its Q4 2014 earnings this week. The company announced a 22% increase in global ecommerce sales. While…

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Three Ways to Optimize Conversions

optimize-conversions

*The following is a guest post from our partner, Spring Metrics. Over the last few years, we’ve seen an upsurge of change and competition in the ecommerce marketplace, but with this change, also comes tremendous opportunity. With everyone looking to improve and get better, it seems that we all must keep on the cutting edge to stay relevant. But it’s not as difficult as it sounds. There are many simple and effective steps we can take to stay on top…

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How to Get Inventory Right with WiseAssortment

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Getting the burger without the shake is not quite as fun — and WiseAssortment is the ultimate milkshake for WisePricer. Previously we took a deep dive into WisePricer and explained how to get the most out of the repricing magic it offers. WiseAssortment really takes it to the next level by making it possible for retailers to get an inside look into their competitors’ inventories. With WiseAssortment in your toolbelt, you can measure how comprehensive your inventory is compared to competitors’.…

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There’s No Such Thing As eCommerce Best Practices

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People have to stay on their toes for any changes that occur in the world. The same goes for the retail industry. Every day retailers face new competitors, new external factors, and new distribution channels. That’s why there is no such thing as a “best practice” in eCommerce. As an online retailer, you don’t learn from being taught, but rather from experiences. Express Yourself In eCommerce, and the whole retail industry, no two brands are the same. Sure, some brands…

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This Week in Retail – Episode 2

The world of online retail is taking greater strides in innovation, and this week was no exception. Praise is due to Ralph Lauren, who announced its online earnings have doubled since last year. The company plans to direct its additional revenue towards its mobile site, hoping to optimize the mobile experience for its customers. In other news, popular social media site Pinterest announced it would soon be testing a “Buy Now” button on its site. The button will simplify the…

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How to Develop A Customer Focused Inventory Assortment

customer-assortment

Do you have a case of slow-moving inventory? The symptoms consist of low sales, constant discounts, and probably a couple of cobwebs in your warehouse. If you have any of these symptoms, then it’s time to take a step back and take a better look at your assortment situation. Sure, you have invested in awesome inventory analysis software, efficient repricing software, and even accept different payment options. But none of this is useful if your assortment is not what you…

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The More You Know, The Better You Reprice: An Introduction to WisePricer’s Landscape Feature

landscape

Prices and competitor data go hand in hand. Without an understanding of your prices in relation to your competitors’, your prices don’t matter. Yes, I said it and I mean it. Before you get up in arms, let me explain. How do you know competitor prices and where you stand in comparison? Approximately 94% of online shoppers invest time to find the best price when making a purchase. Shoppers are always on the lookout for a deal, so your price…

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