Omni channel prices: how does the purchase platform influence the price?

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Multiplatform, Omni channel... Whatever the name you want to give it, the day to day digitization of the users has endowed the reality that surrounds the purchase and sale with a much deeper dimension. Find a product in a marketplace, approach to check its quality in the store and make the purchase decision through a smartphone. So, how should we deal with this new multi-channel shopping cycle that consumers have acquired?

Here the doubt is clear: maintain the same selling price in all platforms or opt for complete differentiation? Although at the beginning of ecommerce and mcommerce a completely differentiated pricing strategy was put forward, today it is demonstrated with the successive actions of major brands that the key lies in collaboration, a pricing strategy that combines the focus of the single price with the specific pricing per channel. It´s a 360 degree ​​strategy which gathers all the factors so that, in the end the sale succeeds.

This theory is reinforced by the large amount of information that buyers can access today, responsible for the exponential comparison of prices. A completely unlinked pricing strategy among sales channels is a big handicap for branding, as it negatively influences brand perception by potential customershttps://www.minderest.com/blog/2017/10/05/brand-building-and-pricing.

When considering Omni channel pricing strategies, three keys must be taken into account

  • 1. The supports that are going to hold the purchase.
  • 2. The costs of maintaining each one.
  • 3. The potential volume of attraction and sales that can be achieved.

In this way, it is much more convenient, practical and safe to establish a general pricing strategy for all points and sale platforms.

On the other hand, Omni channel pricing strategies must contemplate the possibility of developing own offers and promotion plans. These types of actions can be launched with two objectives: speed up and power global sales or suppose reinforcement to the abandoned shopping trolleys in other supports, allowing optimization of the decision making of the user's purchase.

An example of this is the exclusive promotions of AliExpress through its app. From its own online marketplace, the Asian sales giant offers the user the possibility of acquiring the product that interests them with a lower price or more interesting shipping conditions through the mobile application. What is the objective? To get visits through the app, enhance the upselling and increase the user's interest in buying through other media. Here evangelization also has a place.

Uniting multichannel and price optimization

How to keep the Omni channel pricing strategy optimized? Dynamic pricing and competitor monitoring tools are the partners in crime of this global objective.

Thanks to pricing tools it is possible to dictate the actions to be carried out in each of the sales channels and monitor the prices of the competition to maintain competitive prices without losing profit margins.

Dynamic pricing software allows you to run pricing tests on different platforms. The data gathered by them will allow designing the correct strategies to adjust and optimize prices in each case.

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Leading competitor price monitoring software for retailers and manufacturers