Amazon changed over 25% of his prices the day before Christmas

Amazon is one of the online companies which is more worried about keeping its prices competitive. Its powerful algorithm determines daily what´s the best selling price with which to maximize benefits, taking into account its costs and its main competitors´ prices. December the 24th is one of the days with greater number of internet purchases in Amazon. Being aware of this point, Amazon got the best out of its pricing algorithm. Last Christmas a team carried out an experiment to... + read more

How to set prices automatically on e commerce by using a Price Intelligence API

One of the main problems that e commerce managers have to face is to keep their catalogues competitive in terms of price. The great diversity of online offers, make the price one of the most relevant issues on the clients´ buying decision process. E commerces know this need, but often are limited by their resources regarding pricing. Managing catalogues with thousands of references without an specialized software is an impossible task. Prices change every day and we can find many... + read more

What is price win rate (PWR)?

PWR is a concept to take into account in pricing, and stands for Price Win Rate. The definition would be when on an e commerce has the lowest price and therefore  in a comparative with its competition this e commerce would have the best price. This concept is analysed in pricing in order to determine how a company is perceived by its clients in terms of price. Offering the best price will bring us greater sales, but it will imply to scarify a great part of our profit margin. Amazon is... + read more

Monitoring an e-commerce supplier catalogue

Today´s article is about how some of our clients (wine and spirits and other sectors) use Minderest to maintain their catalogues synchronized with their suppliers. Purchasing managers, know how difficult it is to keep a catalogue updated in price and stock with its suppliers as it is very possible that our suppliers don´t communicate their price changes or stock outs.  When that happens it causes a problem in our e commerce, as we have probably sold an article that we won... + read more

54% of European consumers would leave your brand because of the price

A recent Nielsen Market Study, has analysed “How loyal are customers to our brand” in relation to some attributes like price, customer care, usability, product quality, etc. Of all variables of change or loss of loyalty price is highlighted as the number 1 factor globally. If we focus the study in Europe, 54% would change brand or supplier by another who was able to offer the same product with a more competitive price. In USA, this percentage rises up to 61%. Are we really focusing... + read more