Thursday, January 25, 2018
Convenience and Price are Two Major Sellers Online
We are price sensitive people. In most cases online shoppers will skip over a higher quality product for a cheaper one. Their goal is to extend their purchasing power with cheeper products.
Those that offer the cheapest price in these ecommerce sites often win and are even encouraged by Amazon. More purchases mean more revenue for the vendor and the online shopping marketplace.
Convenience is fostered by making purchases easy and ensuring the product is delivered in a timely manner. Without this convenience people will often just drive down to the local store and not have to wait.
If your an online retailer you can always consider improving delivery times and using a low cost pricing strategy that is just a few cents lower than the competition. This doesn't address the unfortunate evils of "race to the bottom" mentality. However, business is about making a sale now because without sales you have nothing. Just make sure you balance your long term strategies.