Avoid the Race to the Bottom: Strategy and Tactics to Optimize Product Pricing
(Room Palos Verdes 1-4)
21 Jul 15
1:15 PM
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2:00 PM
Having the right product prices is critical in hitting your marketing and profitability targets. Amazon knows this – they dynamically check and adjust their product prices every 15 minutes. The CEO’s of Staples and Sears both mentioned dynamic pricing as an important driver of revenue in their latest analyst calls. It’s crystal clear: if you neglect your prices, you are likely leaving profits on the table. That’s why we asked Shop.org's Start-Up the Year finalist Guru Hariharan (CEO, Boomerang Commerce) and a panel of veteran digital retailers to discuss the price and promotion optimization strategies and tactics they use to improve margins and prevent “race to the bottom” pricing. We’ll be covering contribution-dollar pricing models, what to consider when pricing and running promotions on branded versus white label products, how big brands should promote and price products, consumer purchasing psychology and much more.