Do this to beat your competitors (HINT: it's not repricing)

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St. Paul, Minnesota United States
Etail Solutions
Kudos: 193
Joined: Jan 18, 2013
Do this to beat your competitors (HINT: it's not repricing)
19 Mar 2015
No matter what you sell online - books, bicycles, or backpacks - if your price is lower than your competitors, sales will skyrocket! Surprisingly, some merchants actually hesitate to take the simple steps necessary to do this because they'd have to give up some short-term profits for long-term growth. Regardless of your philosophy, our latest blog post - which has nothing to do with repricing - will show you how to consistently beat your competitors, and end up driving your sales volume through the roof. In fact, one of our clients used our strategy and their sales doubled in less than 4 months! Simply click the link below to discover how you can do the same for your e-commerce business.

Click here to keep reading...

[Last edited: 20 Mar 2015]
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Etail Solutions. Sell More Efficiently.
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United States United States
atadofchad
Kudos: 66
Joined: Feb 17, 2015
Re: Do this to beat your competitors (HINT: it's not reprici
24 Mar 2015
@Etail Solutions Even if you renegotiate pricing with your suppliers, it doesn't drive sell-side demand. Your strategy still leads back to repricing to drive demand...Unfortunately, that doesn't help you achieve marketplace success.

The real success is doing things better, faster, cheaper and more intelligently than you're competitors. It's product, process, and people- get these “three Ps” right to realize breakthrough growth. For me as one of top 500 sellers on Amazon, it's been a deep focus on operational process. I built Skubana - it's a cloud-based marketplace focused operational acceleration software that allows sellers to get their hands on software that was once only available to large sellers for a fraction of the cost covering inventory, order fulfillment, vendor management and analytics.
Supplier
St. Paul, Minnesota United States
Etail Solutions
Kudos: 193
Joined: Jan 18, 2013
Re: Do this to beat your competitors (HINT: it's not reprici
2 Apr 2015
@atadofchad - Thanks for the comment. I'll have to respectfully disagree on some aspects of this. It's easy to quote @marcuslemonis of #ThePROFIT and say that People, Process, and Product are the answer (and I am a huge 'Profit' fan btw, love that show), and as it relates to enabling a business to deal with growth, I agree. This is why so many of our other posts talk about operational efficiency being a catalyst for growth. However, the point of this post is that you can have the best P/P/P in the world, but if your competition still beats your price, you won't sell (we are talking about online selling at this point).

This doesn't come back to repricing, I am assuming that any merchant of any size on Amazon is already using a competitive repricer (ideally an integrated one). This post was about leveraging your volume to lower your cost basis when purchasing, giving you a stronger ability to compete online. By inserting this as a regular Process, you will eventually be able to beat your competition on a regular basis simply because they cannot profitably compete with your pricing.

[Last edited: 2 Apr 2015]
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Etail Solutions. Sell More Efficiently.
Supplier
United States United States
atadofchad
Kudos: 66
Joined: Feb 17, 2015
Re: Do this to beat your competitors (HINT: it's not reprici
2 Apr 2015
@Etail Solutions Thank you for clarifying. Respectfully, there are many factors to driving higher sales volume with your customers. Lowering price points because you were able to negotiate a better price with your suppliers is certainly one strategy. Adding on repricing is another. However, you still need to arm yourself with the right data in order to negotiate successfully. My reply was not to negate your point, but to indicate that there are other factors in the mix here that can also contribute to increasing sales and increase your negotiating power. With a platform that gives a 100% inventory visibility as well as actionable data to make better decisions, you'll not only be able to work with your suppliers more effectively to drive lower cost of goods, but see an increase in new and repeat customers and drive out your competition.

[Last edited: 2 Apr 2015]

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