Top 6 Pricing Methods
to Become a Retail Winner
Companies have a variety of pricing methods to choose from that are
founded by either a single or a mixture of one of the umbrella terms: cost,
demand, and competition. But what exactly is a pricing method?
How to choose the pricing method?
Why choose Competera?
Competera is an all-in-one pricing platform with a disruptive pricing approach leading to touchable results for omnichannel retailers.
Let us show you
- Turnkey solution Reprice thousands of SKUs from Day 1
- Suits any portfolio Manage any number of categories
- Technological transparency Feed in dozens of constraints
Let us guide you
- Individual pricing design 4⁴ pricing solution combinations
- Well-balanced pricing Millions of cross-impact simulations
- Short-term forecast Up to 98% forecast accuracy
Let us impress you
- Subscription-based mode Minimal subscription - 1 year
- Fast integration Integration & first profit - in 60 days
- PoC-proven results Duration up to 90 days
- Guaranteed projected profit ROI 600%-800%
What are the main strategies?
Which pricing method is yours?
Become a retail winner by selecting the right pricing strategy or a combination of them. The six top ones include cost, demand, competitor, value, psychological, and product based methods.
When businesses utilize this pricing method, they are taking into account the prices of their rivals in order to determine the price of their goods. It’s up to them to price it either higher, lower, or just as their competition has the item priced.
This can be seen with airplane ticket prices. The price tends to remain very similar across all airlines. It’s typically accomplished with the help of pricing software, which helps automatically track the prices of rivals.