As an Amazon reseller, you’re constantly faced with the challenge of standing out in a crowded marketplace. Central to this challenge is the battle for the Amazon Buy Box—the holy grail of visibility and sales. However,...
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How Artificial Intelligence (AI) and Machine Learning (ML) Drive Ecommerce Profitability
Even as the threat of a recession hangs over the U.S. economy, the artificial intelligence (AI) and machine learning (ML) niche in the tech industry continues to attract more venture capital than startups can spend. Unless you’ve been entirely offline...
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Price Leadership vs. Competitive Pricing: What Works Better in eCommerce?
Pricing sets eCommerce businesses apart and makes your company a leader in your market. However, setting prices isn’t a walk in the park because of all the potential variables. Do you match your prices with a pricing leader, or will you use a competitive...
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What Goes into Online Pricing Intelligence?
In the last few decades, chess software has gone from a far-off dream to beating grandmasters. Empowered by AI, computers today can far outperform any human player at chess and help improve a player’s gameplay. Like in chess, your company can take...
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3 Business Intelligence Tools for Retail in 2023
It’s been nearly 60 years since Bob Dylan sang The Times They Are A-Changin’. Since 1964, we’ve been to the moon, invented the internet, survived Y2K, and braved a global pandemic, but one thing that hasn’t changed is change itself. While economic,...
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How to Choose the Right Pricing Intelligence Tool
Pricing intelligence is key to success in today’s retail market. The more a retailer knows about competitor and market pricing, the smarter that company can price its products. Pricing intelligence tools let retailers collect real-time pricing data and...
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AI in Inventory Management: Putting AI to Work to Optimize your Inventory
Perhaps Mick Jagger and Keith Richards of the Rolling Stones really were on to something in 1965 when they first sang “I Can’t Get No Satisfaction,” especi ally considering the lyrics still resonate with audiences some 55 years later. Over the past...
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Excess Inventory Hurts Nike Profits: How to Deal with Supply Chain Issues
Supply chain issues, exacerbated by the COVID crisis, hurt retailers and consumers alike by playing havoc with inventory levels. Too little inventory, and retailers miss out on sales. Too much inventory and retailers use up their cash by holding...
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Is Inflation Eating into Your Profits? Here’s 5 Steps You Can Take
Ecommerce and retail businesses are struggling to maintain revenue and profits. In 2022, inflation rates in the United States rose to levels unseen since the recession of the early 1980s. On the heels of geopolitical conflict and the lingering effects of...
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7 Key Factors That Impact Online Retail Gross Margin
Gross margin is an indicator of how well the c-suite manages a company. Online retailers have to manage their gross margins just like traditional retailers, which involves the interaction of revenue versus the cost of goods sold. What are the factors...
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How AI Is Constantly Transforming the Retail Industry
In 2021, businesses spent an estimated $2.9 billion on products providing AI to the retail industry. With a compound annual growth rate (CAGR) of 34.1%, the global market for AI-driven retail technology will expand to $17 billion by Q4 of 2028. Many...
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The Smart Retailer’s Guide to Competition-Based Pricing
In the 2010s, flagship smartphones first crossed the $1,000 price point with Samsung’s Galaxy Note 8 and Apple’s iPhone X, but many consumers have noticed that the once high-water mark price has become standard as competition-based pricing has kept...
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The Role of AI in E-commerce Optimization
This year, e-commerce sales will surpass 5.7 trillion dollars by the end of 2022. Companies compete to capitalize on increased online shopping demand by improving the user shopping experience. Yet, nothing has more profoundly influenced consumer behavior...
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How to Make Your Price Setting Process More Efficient
Pricing products has become far more complex due to inflation and recession worries. As a result, the cost of goods rises while shoppers spend less. So, when eCommerce brands raise prices to offset new costs, they risk losing customers. However, keeping...
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9 Things to Look For in a Pricing Platform
Recent studies have projected that the global market for price management and optimization software will grow at a compound annual growth rate (CAGR) of 16.3% through 2031, capping $6.5 billion in total value. The integration of new technologies such as...
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How to Ace E-commerce Optimization in 2023
As a bleak holiday spending season – and possibly a recession – approaches, business leaders must focus on e-commerce optimization strategies to overcome upcoming challenges.
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What Is a Pricing Engine and Why Do You Need One?
In 2022, 44% of ecommerce businesses and retailers reported using automated pricing technologies, such as price engines, to drive profits and mitigate losses from inflation and decreased consumer spending. As the list of companies already using pricing...
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Things Machine Learning Reveals About E-commerce
Machine Learning is a subfield of AI that use algorithms and data sets to help forecast and formulate conclusions of AI. An online grocer used machine learning in e-commerce to implement inventory and pricing practices that reduce food waste by 40%.
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4 Ways Predictive Analytics is Redefining E-commerce
When most people leave their jobs, they lose their salaries, benefits, and a desk. When Ronald Wayne left his job, he lost $280 billion.