The four factors that determine the working of your E-commerce portal in the most effective and efficient way possible are – Price, price, price, and price! These are the four essential P’s that you require when you are out there to market the E-commerce in the best possible way. When you setup an E-commerce portal, then you give the users an option to purchase multiple brands from on single platform. This enables them to get all the products they want by just logging on to one source. This might be very easy for them, but you need to ensure that you are managing predictability to manage & grow sales across all your listings. The competition is too tough in the E-commerce business in sectors like mobile phones, consumer electronics, accessories, large & small appliances, toys, branded footwear & apparels, etc. The moment you are going to lack in just one area, the other is going to have an edge in no time.
If you are going to have a look at the big marketplaces like Amazon, Flipkart, Snapdeal, and Paytm, you will notice that they have managed everything right from the start. They have priced the products accordingly and they update it from time to time, giving users ample opportunities to invest both their time and money into the portals. The more you are able to engage the user in the portal, the more he is going to scroll through what you have on offer. This coupled with exciting deals and competitive process tempts them to buy more and more. They also have a dynamic rating, known as seller rating system that enables them to create a differentiation among sellers despite all of them selling the same SKU.
This not only makes the seller who has quoted the lowest price for the products gain a good lead, but it also enables the marketplaces to provide effective and efficient services to the people coupled with lower priced goods, helping them to score on parameters like no other. The improved ratings help sellers optimize list prices and they even don’t have to trade the margins down.
Priceworx is a new tool that is designed to optimize the price and it works intelligently to optimize the price of the products to make the marketplaces offer items at far more competitive price and this helps them to gain a lead in the competition. It helps in following ways.
- Increased sales
When you have products in far more competitive price, then you will end up selling more items than the competition.
- More margins
It sets the most optimum pore for the product and this enables the seller to have maximum profit.
- Zero errors
The system is sophisticated and allows you to re-price the items in a way that leaves no room for errors.
- Saves time
It helps you save a lot of time as you don’t have to compare the prices and on the sites and marketplaces and it does everything for you.
