“The core concepts of e-commerce and m-commerce have evolved considerably in recent years as they become a vital part of retail. Shopping is naturally a key driver for m-commerce but it had not been developing like other areas for a while. For starters, there wasn’t an app dominating the market. The retail app market is getting saturated with each retailer taking a go-it-alone approach, or with niche apps in electronics, fashion, automotive, baby, beauty, home and kitchen, office products, pet supplies and many more.
Consumers prefer apps, but they are frequently caught in the middle between choosing from a plethora of apps or just using the phone browser. In fact, about half use browsers to shop and the other half use apps. The trend, however is clear, app usage for shopping has increased from 35% to 50% year over year.
Contrary with the increase of app usage, retailers have been abandoning app development or keeping app efforts static. The key reason is that retailers are finding it difficult to build and main…
(Article by Venture Beat)
The capability to implement new smart cost effective technology is about to change. Using Price Setter Sellers will be able to advertise their regular prices on their store’s website as they normally would and be able to deposit and store dynamic prices and pricing parameters in Price Setter’s cloud database, this way Sellers do not need to advertise their bottom line price across the board on their store website all of the time. Using Price Setter their prices adjust automatically only when and if necessary and only for each specific transaction in response to who their competition is and what the competitor’s prices are at the moment a buyer requests the best price (a real win-win deal) making Price Setter the best tool for Buyers and Sellers. Pricing parameters may include a maximum price, a minimum price, a percentage for how low they want their price to go under or above the closest competitor , quantity of products to be sold, ratings, date, time of the day and other parameters.
Buyers who are shopping for bargains can save a lot of search time by searching directly on Price Setter and engage member Sellers in an automated price competition for the lowest price possible, alternatively they can spend a lot of time conducting searches the old fashioned way on traditional comparison shopping websites of their choice as they normally would and once they have identified a “Presumed Lowest Price” they can “share” that price’s screenshot with Price Setter and see how the “Presumed Lowest Price” is beaten on the spot by Sellers who have deposited pricing parameters in the Price Setter cloud. Why?Seller members of Price Setter can advertise regular list prices (not discounted prices) on their website, selling their products at regular prices to Buyers who do not use comparison shopping websites. These buyers normally just search for the products they want on a search engine, get directed to a Seller’s website and process their order then and there. Sellers make more money and higher profits by selling at regular prices on their website to these buyers. As a result of higher profits they can then afford to set their dynamic pricing parameters on Price Setter to go lower than any advertised low price just for those shoppers who are really searching for the best bargain.
It is the search engines (Google, Bing, Yahoo), comparison shopping websites (Shopzilla, Nextag, Price runner) and market places (Amazon, eBay) who make all of the money at the expense of the small businesses. Small businesses have no choice but to advertise low prices to stay competitive. Sellers who normally advertise low prices on their website or on comparison shopping websites and market places like Amazon and eBay are more likely to switch to Price Setter and start charging higher prices on their individual websites which will allow them to make more profits. Stores who now sell at high prices on their own stores will likely start depositing pricing parameters in Price Setter database to compete for a lower price only when or if necessary.