ARTICLE – ABCOMM

E-commerce: 5 pricing strategies to pay attention to

Pricing strategies in e-commerce are crucial to ensure business profitability, attract customers, boost sales, and gain market share. Here are some pricing strategies commonly used in e-commerce:

1. Monitoring: Monitoring market prices is a fundamental practice to gather accurate and updated data for making informed decisions, including adjusting prices to maintain the brand’s market position or to stay competitive.

2. Market penetration: Setting initially low prices to enter a new market or launch a new product helps attract customers quickly and gain market share. However, it’s important to raise prices only after establishing a solid customer base.

3. ABC Curve: By defining the ABC curve of your portfolio, the company can work with lower margins for certain products and identify high-value items. Competitive pricing tends to lead to increased sales volume, requiring attention to delivery times to enhance competitiveness.

4. Exclusivity: The company can charge higher prices for high-quality or exclusive products, creating a perception of luxury and prestige.

5. Discounts: Running limited-time promotions and discounts is great for increasing sales and attracting new customers. Offering discount coupons, loyalty programs, and special deals to encourage repeat purchases are effective strategies. It’s also beneficial to capitalize on seasonal events and promotions.

Source: Eletrolar News Ed. 161