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Ecommerce & Retail

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Claire had been saving up for months for a weekend of trekking with her family. She had planned everything in advance, booked her family into one of the best resorts in the area, bought the best trekking equipment including bags, ropes, hiking shoes/boots, trekking poles and climbing gear, and even enrolled her kids in fun activities at the resort. What she didn’t plan on was that her dream holiday would be ruined by bad product data. You see, prior to her trip, Claire had purchased trekking rope from her favorite and most trusted e-Commerce site. And, she could swear that the product page said the rope was made of ‘kernmantle’ nylon – the type of rope recommended by her guide. But during the trek, she found, to her dismay, that the rope was made of a much-inferior ‘nylon-blend’ that left her with rope burns despite wearing gloves. As the family left the resort that weekend, Claire was certain about two things – one, it was going to be a long time before she tried trekking again, and two, she would never shop at her favorite e-Commerce store again, ever.

Pricing is usually determined on the basis of competition that is hanging around. In the fiercely competitive E-commerce industry, if it’s not you, then it’s your competitor who is going to win the sales because he offers better deals on the pricing front.

Did you know that 90% of online shoppers say they compare deals on the Internet?
There could be numerous factors that consumers consider before making a purchase decision. But the most powerful and pivotal aspect that drives a purchase is the price of the product.