StoreAutomator Blog

Introduction

Beauty Bridge was founded in 2005 as a traditional bricks and mortar beauty retail store. After opening it's online store, the company started selling prestige beauty and personal care products and became one of the first 3^rd party beauty category sellers on Amazon.com in 2008. Changes in the market required Beauty Bridge to re-imagine its business so that it could capitalize on the new era of eCommerce. It meant the company would have to significantly increase its product selection and sales channels.

When looking for a partner to help them make this change. Beauty Bridge was impressed with StoreAutomator’s willingness to adapt their business to support Beauty Bridge’s ambitions as well as the hands-on support.

Running an online multichannel business can be a very successful venture; however, it doesn't come without its set of challenges. One of these challenges is managing multiple product listings across various marketplaces and platforms.

When building or scaling a multichannel business, there are several ways brands can find qualified suppliers to help support their growing needs. However, when sourcing goods from new partners, resellers may often be unaware of certain pricing restrictions set out by the manufacturers and distributors they choose to partner with. These restrictions often come in the form of MAP (Minimum Advertised Pricing) agreements.

Since the dawn of the internet, most aspects of everyday life have found their digital counterpart on the web, and, of course, business is no exception. 

Regardless of what type of online business strategy you have, most eCommerce brands actively look for new opportunities to scale their operations at one point or another. And why not? There are countless opportunities available for online brands to expand within local or international marketplaces while remaining profitable and increasing their brand awareness.

Multichannel selling is a practical strategy for expanding a brand's market visibility, generating new growth opportunities, and establishing sustainable sources of revenue. However, while more and more companies are beginning to recognize the business value that a multichannel selling strategy provides, deciding on the right way to execute it isn't always easy.

Whether establishing an eCommerce storefront or adopting a multichannel marketing approach, having a strategic pricing strategy is key to ensuring your online success.

Let's rewind the clock back many years...

Boost Sales With These 7 Expert eCommerce Pricing Strategies 

Using the right eCommerce pricing strategies can make or break your conversion rates. Like any form of marketing for a successful multichannel brand, your pricing strategy should be tested and tweaked to find the optimum price for your product, at the right time, for the right shopper - all in real-time. In fact, most successful brands use a combination of competitive pricing strategies to create a hybrid, specific to their niche and market, that is more likely to convert.