Online retailers have no option but to compete on price. Consumers become increasingly price-sensitive due to the rising costs of living and transparent online prices. How to appeal to such a price-conscious audience? By optimizing your pricing strategy.
I hear this question often when retailers are working with a new supplier or distributor:
How do I import the suppliers entire product catalog into my store?
I‘d like to outline 3, not so obvious reasons to not import a suppliers entire product catalog into your store. The reasons below are related to suppliers that have a large product catalog.
We've been hard at work getting the Vendor Product Catalog ready for prime time and that time has finally come!
Spark Shipping can now show the full product catalog from a vendor and give you the ability to choose which products you would like to push to your shopping cart or marketplace.
Being a seller at a big online marketplace such as Amazon is no cakewalk. You worry about account suspension and staying compliant with their Terms of Service because you know very well that a blocked listing will eat your profits. In this article, I will teach you how to approach the whole process with ease and hopefully lead you to find effective solutions.
Every business out there has a pricing issue. Why? Because pricing is both a science and art which makes it difficult to determine. We believe once you get the science part right you open up space for art and creativity. So, how do you determine a price? Or how do you calculate the value of the product you are selling?
New retailers that are just starting off on e-commerce often start with the most 'beginner' suppliers. These suppliers often accept all retailers but provide the worst margins. Once you launch the business the next step is to stair-stepping your suppliers from beginner level, to intermediate, then advanced.
The best way to know what real people like is to get the elements of your product listing (the description, photos, and name) in front of them. Are they seeing what you intend them to see? Do they bring associations you didn’t think of? As you test your listing, common themes and reactions begin to emerge. These insights will give you a sense of how to improve your listings, and ultimately, your sales.
With millions of products in the e-commerce universe, it’s difficult to stand out. However, by thinking strategically about your product listings and using feedback and data to improve them, your products will look most appealing and generate more sales.
Many eCommerce retailers are working with multiple distributors that can fulfill the same products. Each distributor has a different level of stock on hand, product price and other fulfillment fees.
In many cases retailers have an internal warehouse or 3PL where they can fulfill the same products from.
The trick to working with multiple supplier for the same product is that product data needs to be tracked at both the product and vendor level.
Here's the data you need to track
In this episode, Charles spoke with special guest Chris Dayley, a Neuromarketer, A/B Tester, CRO Speaker, and Evangelist. The following is a brief summary of the main points from the episode.Conversion Rate Optimization is one of the pillars of internet marketing. Chris shares with us a few practices such as A/B website testing. Basically, this is the method of comparing two versions of a webpage/app against each other to determine which one performs better.