Welcome to Intelligence Node's Blog. Regardless of where you are on your retail analytics and machine learning journey, our blog covers a vast range of topics to maximize your retail growth and ensure your success.
Agile product pricing strategies is one of the biggest questions retailers face for a reason. The relationship between an item’s price and its quality — and perceived value to consumers — is oftentimes the deciding factor in shaping whether or not purchase ever takes place. In such an increasingly crowded marketplace, the concept of cash cow marketing […]
With industry leaders like Walmart, Amazon, and Target setting the standard, matching your prices in real-time is becoming an increasingly difficult task. These big-name brands shrewdly utilize powerful proprietary algorithms to make their offers nearly impossible to beat. Walmart has aggressively sped up its digitization in the last five years to come up to speed […]
Earlier, if people needed something, they had to drive around town to buy things from different places. Thanks to the Internet and its gaining popularity, there are a lot of e-commerce websites. E-commerce is the act of buying and selling products and services online. These days, you can get anything online, cars, books, toys, furnitures, […]
Let’s start off with the basic definition – what are pricing benchmarks? It’s the process of comparing your prices to the prices of the competition in a specific market segment. Why, one might ask, blissful in ignorance. The answer is very simple – because understanding your pricing and your position among your competition is of […]
Pricing. It’s that enigmatic element of any business that’s sure to keep executives up at night and constantly second-guessing themselves. Fire up a Google search or read any business advice book, and you’re bound to come across a bazillion different pricing strategies, all of which are purported to be an instant shot in the arm […]
People can be extremely picky about prices. Most American consumers are looking for the highest quality item for the lowest price. This can make things challenging for those hoping to make a profit in return for providing the product. The treasured secret to a successful business is having the right system to price products properly. […]
One of the daunting tasks being in retail is setting the price and setting it right. Pricing isn’t easy when you’re in the retail scenario—you set the price low and you lose out on profits—you set the price high and you lose out on customers. It’s completely up to you to decide whether you want […]
Let’s assume you have a product you’re ready to launch. You’ve weighed all the possible pricing strategies that are out there, and you’ve opted to go with a skimming pricing strategy where your price is set high based on the value to maximize profits, and then lowered over time to attract your the more frugal […]
What is it that makes the average shopper transition into a customer? The trouble for many store owners lies in trying to determine the best price for their products. Retailers understand they need to make a profit to stay in business, but what is that sweet spot that will keep the customers happy, and keep […]
