How to Overcome Retail eCommerce Price Monitoring Challenges? | Retail eCommerce Price Monitoring
Why is the Price Monitoring Crucial? In the commoditized world, new products get launched daily and millions of various products get sold online. So, it’s not easy to differentiate your products from the ocean of other sellers and products. Copier products boom the marketplaces so it’s getting tougher to stay in the competition. You need to start competing on the tangibles like prices to get observed. Only then you can start distinguishing yourself from other intangibles like customer service, quality, etc. Key Success Factors Example: Amazon Amazon has proved why it is a giant e-commerce player and after years of wonderful success, they have created a magical formula of 3 success factors, which define their e-commerce success. Pricing, Accessibility, and Brand Amazon has used its Prime shipping program and realized that all these factors are very important for the consumers. They always have the right price and because of ‘Free 2-day shipping’,...