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EP236: How Ecommerce Brands Are Using Automated Pricing Strategies To Boost Sales Margin & Shift Stock, With Sniffie Founder Tomi Grönfors

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Manage episode 419437887 series 2581854
Content provided by Paul Rogers and James Gurd, Paul Rogers, and James Gurd. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Paul Rogers and James Gurd, Paul Rogers, and James Gurd or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this podcast, Sniffie founder Tomi Gronfors shares his insights on helping more than 600 ecommerce retailers implement pricing automation strategies.

Dynamic pricing is a strategy where ecommerce brands adjust the prices of their products in real-time based on various factors such as demand, competition, market trends, and customer behaviour.

By implementing dynamic pricing, brands can optimise their pricing to better match what customers are willing to pay at any given moment. For example, during peak shopping periods like holidays or special promotions, brands can increase prices to capitalise on higher demand.

Conversely, during off-peak times, prices can be lowered to attract more buyers and move inventory. This flexibility helps in maximising revenue by ensuring that prices are always aligned with current market conditions, ultimately driving more sales and higher profits.

  continue reading

242 episodes

Artwork
iconShare
 
Manage episode 419437887 series 2581854
Content provided by Paul Rogers and James Gurd, Paul Rogers, and James Gurd. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Paul Rogers and James Gurd, Paul Rogers, and James Gurd or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

In this podcast, Sniffie founder Tomi Gronfors shares his insights on helping more than 600 ecommerce retailers implement pricing automation strategies.

Dynamic pricing is a strategy where ecommerce brands adjust the prices of their products in real-time based on various factors such as demand, competition, market trends, and customer behaviour.

By implementing dynamic pricing, brands can optimise their pricing to better match what customers are willing to pay at any given moment. For example, during peak shopping periods like holidays or special promotions, brands can increase prices to capitalise on higher demand.

Conversely, during off-peak times, prices can be lowered to attract more buyers and move inventory. This flexibility helps in maximising revenue by ensuring that prices are always aligned with current market conditions, ultimately driving more sales and higher profits.

  continue reading

242 episodes

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