The next stage in ecommerce’s natural evolution is the rise of real-time pricing.
This has been suggested by Rodney Mason, chief marketing officer at global incentives and engagement firm Parago, who believes retailers can boost their customer satisfaction rates by adjusting their prices in real time. According to Parago’s survey of US shoppers, 95 per cent of people use their computers to buy products and two out of five perform this activity on their tablets.
Meanwhile 65 per cent of consumers are said to be sensitive to the price of what they’re buying, which highlights the need for retailers to take an in-depth look into how they’re pricing their goods.
Cited by multivu.com, Mr Mason said that small-time retailers now have to contend with the extremely competitive prices offered by the likes of Amazon whilst they attempt to reach out to “incredibly price-sensitive customers.”
However, the expert had a way around the problem.
“For retailers to thrive, they need to disrupt the path to purchase with a dynamic, real-time pricing model,” he commented.
“Our research shows that dynamic-price rebates are one way to respond to consumers’ demand for lowest price and protecting margins, unlike across-the-board online price matching.”
According to yahoo.com, other key findings from Parago’s ‘Need for Speed: Disrupting the Omni-Channel’ report show the path to purchase is getting shorter and that online shopping is getting ever closer to full saturation.