Enterprise-Level Pricing Strategies Now Available for Smaller Retailers
SAN FRANCISCO, CA --(Marketwired - July 21, 2015) - Stitch Labs, the leading inventory control and multichannel selling solution, announces enterprise-level pricing strategies on select sales channels integrated with the award-winning platform. This enables retailers to employ creative pricing strategies and implement promotions, while tracking the results.
Stitch users can now automatically push pricing changes to Amazon, eBay, Etsy, Shopify, Square, and WooCommerce at once. With the new Amazon lowest-price report, users can also see how competitors price similar products online and quickly change listings in a few clicks. Amazon has been using dynamic pricing for years, which has been a frustrating thorn for its big-box chain competitors, who historically have been unable to react as quickly in price-match attempts.
A whitepaper released in January this year highlighted Amazon's coveted pricing strategy, where nearly 10 million price changes occur during the holidays to ensure the best sales for consumers. The same pricing strategy was implemented for the highly anticipated "Prime Day," where Amazon succeeded by increasing sales for July 15th by over 266 percent over the same day last year, and 18 percent more than last year's Black Friday numbers. For small retailers, the capability to quickly change pricing allows them to attract customers and influence buying all year long.
"Strategic pricing is key in staying competitive in any retail environment, but it's become even more ruthless for online businesses," said Brandon Levey, CEO of Stitch Labs. "Price comparisons for online shoppers is instantaneous, requiring ecommerce businesses to be even more agile. Equipping retailers with faster pricing functionality gives them a greater edge in such a rapidly changing, competitive environment."
Retailers using multiple channels often don't have a central location for all-channel pricing, so each update must occur manually, while being tracked in an offsite location. The result is mispriced channels, inability to competitively price, and no coordination between promotional campaigns. Stitch Labs facilitates a strong operational foundation by adding the ability to change pricing strategies in one platform, and access to a fully stocked suite of features.
These features are available now for select new and current Stitch users. For more information about Stitch Labs, visit http://www.stitchlabs.com.
About Stitch Labs
Stitch is an online inventory control solution that simplifies multichannel retail business. It automatically syncs inventory, orders and sales across channels, which provides retailers a holistic understanding of their operations. With Stitch, retailers save time, make better decisions, and grow their businesses. Stitch integrates with top sales channels such as Amazon, eBay, Etsy, Shopify, WooCommerce ,and Square, as well as add-ons including Quickbooks, Xero, and ShipStation. To learn more, visit www.stitchlabs.com or reach out to our team at email@example.com or on Twitter at @StitchLabs.
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