Everybody knows that the holy grail of e-commerce shopping is the end-of-year holiday season, starting with Black Friday/Cyber Monday.
The reason you know about these days (other than them being your biggest moneymaker days of the year) is because they have been selected for you. You had no say when, where, and to what extent you should engage in special promotions.
Retailers will often offer huge discounts – sometimes over 50% – to consumers, to entice them to shop at a certain store. This is happening simultaneously by thousands of retailers.
The elephant in the room is the risk of putting all eggs in one basket – relying on a single day of sales to help float an entire quarter. Operating at a loss unless you hit a certain volume number is a very scary thing to do for a small-medium retailer. We’ve also heard horror stories of companies who’s site went down on the biggest day of the year, or the fact that logistics companies are struggling to deliver holiday packages in time.
At PriceWaiter we believe you, the retailer, should have more control. We think that retailers should be able to engage in special promotions, in real time, based on shopper sentiment and buying trends.
Simply put, it is too difficult to project pricing changes publicly, as fast as you are able to recognize them. Retailers cannot alter signage, search engine ads, or radio and TV commercials fast enough to allow for dynamic pricing changes. But by allowing customers to make offers on products you sell, you open the door to making pricing decisions efficiently and privately, all in real time.
PriceWaiter enables you to do this, and spread the special promotion element of Black Friday, any day of the year, all while maintaining total control of sales you make.
Remember, as always, if you have any questions, comments, or suggestions on how we can make your life easier, drop us a line!