An everyday low price strategy can be a winner, but this comes with an asterisk. Such a self-limiting strategy can only work for a specific type of company and it requires a certain approach. And with COVID-19 disrupting any normalcy in retail, we need to examine whether companies embracing EDLP are faring better or worse right now.
The retail industry has a counterfeit problem and it’s threatening brands across the world. According to the International Chamber of Commerce, the global economic cost of counterfeiting and piracy could reach $2.3 trillion by 2022. Here are measures retailers should take to prevent 3P sellers from offering counterfeit goods.
Pricing is one of the most difficult issues in online retail because it is a major challenge to keep up with such a fast-moving and dynamic marketplace. With the concept of “list pricing” on the wane, here are some tips to help you stay ahead of the curve in ecommerce pricing and gain a competitive edge in this crucial area.