Moira McCormick

Moira McCormick
Researcher & Pricing Specialist at BlackCurve
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Recent Posts

6 Ecommerce Pricing Experiments that You Can Run Today

Posted by Moira McCormick on March 5, 2019

According to eMarketer.com, global eCommerce retail sales are expected to top $27 trillion in 2020 and the biggest eCommerce retailer by a mile is Amazon.  Bryan Eisenberg recently published the book “Be Like Amazon: even a Lemonade Stand Can do It (co-authored by Jeffrey Eisenberg and Roy H. Williams).  Perhaps you could experiment with some of Amazon’s most successful strategies?

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Topics: Pricing Experiments, Ecommerce Pricing

Stop Letting Your Competitors Race Ahead of You - Here's How to Grow Your Profit Margins

Posted by Moira McCormick on February 5, 2019

Profit margin is a measure of your profitability.  The figure varies from business to business but is a pretty good indicator of how successful you are.  As author Doug Hall says, “If your profit margins aren’t rising, chances are your company isn’t thriving.”  With retail, some of the biggest brands commonly achieve profit margins of 50-60%. In 2017, Ted Baker had a profit margin of 60%, Inditex 57%, and M&S 56%.

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Topics: Profit Margins

10 Fastest Ways to Increase Ecommerce Sales

Posted by Moira McCormick on January 8, 2019

 

If you’re having trouble coming up with new ideas to increase eCommerce sales, here are 10 ways to generate more sales.

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Topics: Sales, Ecommerce, ecommerce sales

Are You Still Sleep Walking? Wake Up to the New World of Smarter Pricing

Posted by Moira McCormick on December 4, 2018

 

According to Tim Walker writing for The Guardian, the days of fixed pricing appear to be coming to an end.  The traditional concept of RRP or ticket price has gradually been eroded and now there are many exciting opportunities for dynamic, personalised pricing models.

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Topics: Smarter Pricing

Why Your Pricing Strategy is Failing and How to Fix It

Posted by Moira McCormick on November 21, 2018

 

No matter what product or service you sell, the price you charge your customers or clients will have a direct impact on the success of your business.

A truly effective pricing strategy should:

  • Communicate your value
  • Position you in the market
  • Reinforce your revenue strategy
  • Allow you to invest in continuing innovation
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Topics: Pricing Strategy

Should You Bet Your Sales Growth on Pricing Software?

Posted by Moira McCormick on October 30, 2018

Warren Buffet was not wrong when he stated "The single most important decision in evaluating a business is pricing power."

Effectively controlling your pricing does give you a definite advantage in the marketplace.  However, if you are still using spreadsheets to manage your prices, a method which is outmoded, and possibly even foolhardy, the future growth and prosperity of your business could be in jeopardy.

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Topics: Sales, Personalised Pricing

How You Can Reduce the Pain of Paying

Posted by Moira McCormick on October 16, 2018

Getting paid on time is one of the most frustrating issues for businesses. Customers are never  overjoyed to part with their money. But if they are happy with your products and service they are much more likely to pay within the negotiated time frame. 

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Topics: Willingness to Pay, Customers, Paying

How To Avoid A Race To The Bottom

Posted by Moira McCormick on September 4, 2018

There is a real danger in “race to the bottom” pricing – basically, no one wins. 

By automatically diving to the bottom price all you’ve done is dented your profit margin and your reputation – and lowered the perceived value of your product. 

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Topics: Competition, Competitor Pricing

Drowning in Pricing Data? Dynamic Pricing Could be Your Solution

Posted by Moira McCormick on August 28, 2018

In his article "How to Implement Dynamic Pricing without Sacrificing Margins or Customers”, Arie Shpanya confirms what we probably already knew, that Amazon is still the reigning champion of dynamic pricing. 

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Topics: Pricing Techniques, Dynamic Pricing Software

The Future of Travel Pricing

Posted by Moira McCormick on August 14, 2018

Airlines want to be seen to be offering their customers the best value, whilst at the same time doing their utmost to ensure they maximise revenue.

Known as airline revenue management, airlines are refining the art of being able to adjust fares dynamically in real time while using increasingly sharpened software that considers the performances of its routes and services around the world.

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Topics: Airline, Strategic Pricing, Travel

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