OTTAWA – Canada – January 14, 2015 – 360pi, the leader in retail price intelligence, hosted a well-attended BIG !deas session at this week’s National Retailer Federation Conference and Expo. The session summarized key takeaways from the company’s 2014 Amazon Holiday Insights campaign including:
- Less inter-day average online price volatility year-over-year;
- A longer promotional season, with lower average discounts;
- Divergence in different retailer holiday pricing tactics and strategies.
In addition to reporting key findings from this year’s campaign, 360pi shared critical insight into the importance of understanding underlying assumptions and options when conducting any price intelligence exercise, as these can impact the resulting analysis and any associated conclusions.
“Some of the reasons that can factor into this difference include sample size and selection, marketplace consideration, and timing and frequency of price extraction,” stated Jenn Markey, VP of Marketing for 360pi. “Arguably, the largest potential for misinterpretation comes from different assumptions applied to the collection and analysis of data around shipping, taxes, and product availability.”
As shared in the session, shipping is largely a non-event during the holidays when it’s included for free by major retailers, but can skew results during normal shopping periods. As well, the session highlighted the significant impact availability can have on relative retailer competitiveness. One example cited was a delta in a major retailer’s average online daily price that commonly varied between 4 and 8% and peaked at 13% during a recent 75-day period, with and without availability accounted for.
Click here to register for our Amazon Holiday Insights Executive Intelligence report.
360pi derives profitable insights from product and pricing big data to help leading omnichannel retailers, etailers, and manufacturers compete and win in a price transparent world. 360pi’s customer base accounts for over $US100 billion in annual retail sales and includes Ace Hardware, Build.com, Overstock.com, and RIS Fusion award-winner Best Buy Canada. 360pi monitors millions of products with unprecedented accuracy to give retailers and manufacturers real-time visibility into the market with full awareness of the competitive pricing landscape to “right price” for their respective customers. Ultimately, 360pi helps customers make smarter pricing decisions to drive increased revenues and margins.
Ketner Group PR + Marketing (for 360pi)
(613) 562-2525 x 511