Price Points by Omnia Retail

In Omnia's Pricing Blog, our pricing experts cover all the latest trends, Omnia pricing events, customer insights and pricing strategies.

25.02.2019

4 Categories Where Dynamic Pricing is on the Rise

As mobile shopping, the demand for omnichannel experiences, and the number of products increases across retail categories, so does the need for dynamic pricing to manage it. With roughly 20% of all retail purchases in the UK made online, it’s obvious that the retail landscape is becoming more digital. Curious about which industries can benefit the most with dynamic pricing? Keep reading. In this post we’ll examine 4 different categories where dynamic pricing is on the rise and give insights on how companies can harness the power of data for better prices.

Dynamic Pricing, Retail Trends & Research

20.09.2018

Improve Your Buying, Supply Chain, and Marketing with Pricing Insights

As a retailer, the only way to reach your full potential is to apply data-driven pricing. Otherwise you’ll be paying too much for your products, holding too much stock and wasting money on marketing. Using three examples we can illustrate how pricing software can give different departments the insights they need to take the right decisions.

Marketing, Implementation

22.08.2018

Four Ways to Use Dynamic Pricing to Prevent a Race to the Bottom

As a retailer, you’d prefer not to see your competitors undercut your prices. But at the same time, you want to avoid a race to the bottom at all costs. In this article, we explain four ways that you can use intelligent...

Pricing Strategies

07.08.2018

Boost Sales by Incorporating Weather Changes into Pricing Decisions

The effect of the weather on retail sales cannot be underestimated. The recent spell of hot weather in the UK and most of Europe has certainly had an impact on retail performance across various sectors. However, several marketing departments still poorly utilize links between marketing decisions and the weather. Understanding these links would give them a framework to take the weather changes into account, and thus potentially increase sales and profits. Omnia's algorithm includes input from a weather API in calculating optimal price and CPC bids so can easily incorporate weather changes into their pricing and marketing decisions. This blog describes examples of how incorporating the weather forecast in your commercial strategy can boost both your sales, as well as your profits.

Marketing, Pricing Strategies

28.05.2018

Unlocking the Pricing Data Potential: Make Better Buying and Marketing Decisions

Well-managed companies recognize the critical role pricing plays in driving performance. A foundation (e.g. organization’s structure) that underpins excellence in pricing is key to realizing its full potential. However, large corporates usually have teams that work separately on topics such as pricing, buying, marketing, and supply chain. Based on Omnia’s experience there is a missing link between those teams that could add a lot of value when fully exploited. Since the marketing and supply chain department usually do not have access to pricing data, they might advertise and purchase different products than they would do if they would have access. This blog explores three examples how Omnia could facilitate the bridge between those teams, thereby enabling them to make better, data-driven decisions and realize pricing data’s full potential.

Marketing, Pricing Strategies

22.02.2018

Dynamic Pricing: Relevant for Every Retailer?

Prices from large retailers are rarely static anymore. More often, retailers make use of dynamic pricing: they use intelligent software to adjust prices multiple times a day. Prices may be automatically adjusted when, for example, stock levels at competitors are decreasing, when there is shown more interest in a product or when the weather forecast changes. Large retailers such as Amazon change their prices as often as every ten minutes. The success of industry leaders like Amazon shows that Dynamic Pricing is critical when organizations want to succeed in the e-commerce and omnichannel retail industry. But how does Dynamic Pricing work? And is Dynamic Pricing equally relevant for all retailers, big and small?

Implementation

13.02.2018

How to Avoid a Race to the Bottom with Dynamic Pricing

With today’s pricing transparency, price has become one of consumers’ key purchase decision factors. Shops navigate a tricky path when it comes to pricing: they don’t want to be undercut by competitors and lose sales, but they also don’t want to get caught in a “race to the bottom” where price cutting gets so extreme that margins completely disappear.