Online retailers in the UK have predicted improved sales for 2013 with pricing goods competitively being a key challenge for the year ahead, according to new research from Royal Mail. Over half of small and medium-sized etailers experienced a rise in sales last year with 64 per cent expressing confidence in increased sales this year.
The report also reveals how 49 per cent of online retailers are finding it challenging to ensure their products are priced competitively. Meanwhile, 46 per cent revealed they were planning to price products more competitively over the next twelve months. Half of those taking part in the research admitted that their customers were becoming more price sensitive with 39 per cent revealing that the increase in price promotions had led consumers to search for the best prices for the majority of their purchases.
“Online retailers are responding to the needs of shoppers to grow sales in an increasingly competitive marketplace,” said Nick Landon, MD of Royal Mail Parcels.
© 2013 Profitero
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Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com
