Don't change prices just for the sake of changing prices

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Prices should also be displayed consistently across all devices or channels. For example, many retailers ask online shoppers to enter a postcode before displaying prices on their sites. The goal is to ensure that customers who visit both online and offline stores see consistent pricing. Your customers may already have expectations about what good and best pricing options are (or your overall pricing architecture); in fact, your own pricing approach may have taught them this. Sudden changes that violate these norms can cause confusion and possibly customer loss.


Specific triggers for price adjustments luxembourg telegram number database can vary significantly among retailers and shoppers. In some categories, seasonal changes or upcoming competitive product launches are valid triggers for price movements. But if costs, availability, competitor prices, or other demand factors do not change, there is no need to change product prices. For example, a grocery retailer developed a segmented pricing strategy: Prices for key items such as milk and eggs were adjusted weekly based on inputs such as retailer costs and competitor prices. However, prices for other items such as packaged foods remained stable because inputs generally did not change from week to week.

Another seemingly obvious tip: Don't forget to let consumers know when you're cutting prices. A discount retailer cut prices on a few key items but didn't advertise the fact, so consumers barely noticed and the price cuts were in vain.