For anyone who creates or manages a purchasing environment, a physical store, or an online store of any size, it’s no surprise that, duh, pricing matters. There are also some striking findings from eCommerce markets worldwide, which strongly proves this fact.

For example:

Price has been named as the most important factor affecting the online purchasing decision by the 60% of all online shoppers worldwide. This number is even higher in emerging eCommerce markets.

More than 90% of online shoppers invest time online to hunt the best deals and offers for the product they are planning to purchase. More than 10 mins per purchase on average.

Around 20% of eCommerce website traffic comes from various Price Comparison Shopping Engines all around the world. This ratio is significantly higher for certain product categories like consumer electronics or similarly price-sensitive segments of eCommerce.

Therefore, eCommerce companies of all sizes from all around the world should better gear up with their pricing operations and approach it as a group effort, instead of just leaving it to the hands of a single department or a single employee within the company.

By applying various pricing approaches, eCommerce companies can actually utilize pricing both as a marketing weapon and a conversion rate optimizer. Let’s see how your eCommerce company might tackle the pricing issue from different angles, depending on its market positioning and strategies.

By Burc Tanir