Steadily growing competition in e-commerce retail makes it a challenge for pricing and category managers for online stores to upgrade their marketing activity to increase the conversion rate on the website.
To stay ahead of the game, retailers are looking for new ways of conversion rate optimization that can be used on their e-commerce website to increase margins.
Competitive price monitoring
Retail analytics says that 8 out of 10 customers compare retail prices before making a purchase, therefore the conversion rate is highly affected by e-commerce pricing as one of the most important factors of conversion rate optimization for e-commerce retail.
Competera dynamic pricing benefits
The best retail cases show: the growth of conversion rate, are always based on competitor price monitoring.