Tag: retail

Learn how to choose the right markup method in retail to increase profitability. Explore techniques, tips, and examples for maximum ROI.

Tagged business, Cost Analysis, customer demand, markup, Markup methods, pricing, pricing models, pricing strategies, product pricing, profit maximization, profitability, retail, retail industry, retail pricing, supply chain management

One of the most common examples of penetration pricing is 'buy one get one free', where you offer an item free with a related purchase. This tactic works much better than a 50% discount, as the word 'free' has a strong psychological effect on consumers. Customers often buy other products to compensate for the discounted one. This strategy is an excellent way to move dead stock and introduce new products. A new product can be linked with a top selling product in a similar category.

16 min read

Finance Retail

More on Penetration Pricing

January 27, 2023

One of the most common examples of penetration pricing is ‘buy one get one free’, where you offer an item free with a related purchase. This tactic works much better than a 50% discount, as the word ‘free’ has a strong psychological effect on consumers. Customers often buy other products to compensate for the discounted one. This strategy is an excellent way to move dead stock and introduce new products. A new product can be linked with a top selling product in a similar category.

Tagged business strategy, competition, customer acquisition, Discounts, economy, market share, marketing, penetration, penetration pricing, pricing, pricing strategy, product launch, promotion, retail, revenue, sales, strategy

The future of online shopping: predictions and trends

6 min read

eCommerce

The future of online shopping: Predictions and Trends

January 27, 2023

The future of online shopping is here, and it’s no longer just about buying goods. Now, consumers are looking for a full experience, which includes videos and reviews from experts all in one place. In this article, we’ll explore the latest trends from across the globe and reveal what you need to know about ecommerce today!

Tagged artificial intelligence, augmented reality, big data, consumer behavior, customer experience, cybersecurity, digital marketing, e-commerce, ecommerce, mobile commerce, nline shopping, omnichannel retailing, online marketplaces, predictions, retail, social commerce, trends, virtual reality

6 min read

Health Retail

Which Food Safety System is better for your company – HACCP or ISO 22000:2018?

January 26, 2023

The HACCP system ensures you have a sound plan for safe food production. It covers the entire process, from beginning to end—from sourcing raw materials to shipping the finished product and everything in between.

Tagged certification, food hygiene, food industry, food safety, foodborne illness, HACCP, health, ISO 22000, quality management, Regulatory compliance, retail, risk assessment

Retailers Are Looking For Ways To Sell Smarter In 2023 And Beyond

3 min read

Retail Trending

Retailers Are Looking For Ways To Sell Smarter this Year

January 26, 2023

The retail industry is changing rapidly, and retailers need to respond accordingly. The rise of the social shopping environment puts pressure on businesses to be more innovative and dynamic than ever before. These changes will require retailers to rethink their strategies and adapt quickly in order to stay relevant in the market.

Tagged customer experience, customer insights, data analysis, digital marketing, e-commerce, marketing trends, omnichannel, product promotions, retail, retailers, sales strategies, smart, Trending

This article will discuss the concept of penetration pricing and how to implement it in your business and cover the benefits and drawbacks of this type of pricing strategy. If you've never heard of it, read on to learn more. You'll soon see why this strategy is so useful to retailers and why it should be considered a valuable tool. However, it's important to know what this strategy entails before implementing it into your business or retail store.

8 min read

Finance Retail

How to Implement a Penetration Pricing Strategy in Retail

January 26, 2023

A successful penetration pricing strategy depends on the type of product or service. Subscription services are a prime example. These businesses capture a large percentage of the market quickly and then raise prices. After a period of time, they retain customers because they offer a great customer experience. However, the line between penetration pricing and predatory pricing is hazy.

Tagged competitive advantage, customer acquisition, market entry, marketing, penetration pricing, price skimming, pricing tactics, product launch, retail, retail pricing strategy, sales tactics, strategy

The Similarities Between Shopping Online & in the Mall

8 min read

eCommerce Retail Trending

The Similarities Between Shopping Online & in the Mall

January 25, 2023

online shopping is convenient. With millions of products available at your fingertips and just a few clicks away, it’s easy to find exactly what you want when you want it. But convenience isn’t the only benefit to shopping online—there are many other reasons why so many people choose to buy things from their computer rather than in person.

Tagged brick-and-mortar, consumer behavior, convenience, customer experience, digital shopping, e-commerce, ecommerce, mall, mall shopping, online shopping, retail, shopping trends

To market a Shop-in-Shop store, focus on demonstrating to customers how simple and convenient shopping online can be. Make sure customers know that what they order online will be shipped directly to their chosen Shop-in-Shop location and that they will receive email notifications when the item is ready for pickup. Also, offer exclusive discounts and promotions for online shoppers or introduce rewards programs that reward customers with points or incentives when they shop at both the brick and mortar store as well as your online retail portal.

8 min read

eCommerce Trending

About Shop-in-Shops Retail Stores

January 23, 2023