#sales optimisation
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Grow Your Real Estate Agent Business with Gonukkad   
Effectively manage & expand your real estate agent business with Gonukkad, India’s leading business agency. Specialising in business visibility, online presence, sales optimisation, and local SEO, we’re committed to enhancing your brand and maximising your reach, taking your real estate business to new heights.  
Visit: https://www.gonukkad.com
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digitalmarketinginfo1 · 6 months ago
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TSL Consulting Pvt. Ltd is a B2B strategic marketing company, delivering services that support companies with strategic marketing planning and execution. With 10+ years of profound experience across industry verticals primarily, in technology. Through these years we have established marketing partnerships with global technology leaders across India and US We also extend marketing and sales consulting services to small, mid-sized and large organizations, of IT and non-IT domain, while customizing our services to deliver value to their businesses.
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chloedecker0 · 11 months ago
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Maximizing Retail Profits: Harnessing B2B Price Optimization Software
In the ever-evolving world of retail and e-commerce, businesses are constantly seeking ways to gain a competitive edge. Among the many strategies employed, B2B Price Optimization and Management Software stands out as a game-changer. Price optimisation and management (PO&M) software solutions enable businesses to oversee and optimize the prices of their goods and services. These services also provide a growing range of sales intelligence advice, such as best-next-action suggestions and customer churn warnings. In the industry, vendors either focus on back-office price management and product management roles, or they focus on providing real-time sales intelligence to sales representatives and B2B digital commerce websites, or both. Quadrant Knowledge Solutions, a leading global advisory and consulting firm, has recognized the significance of this technology in their report, “B2B Price Optimization and Management Applications, 2023”. Quadrant Knowledge Solutions focuses on helping clients in achieving business transformation goals with Strategic Business, and Growth Advisory Services. 
Download the sample report of Market Share: B2B Price Optimization and Management Software
Understanding the Retail and E-commerce Landscape 
The retail and e-commerce industry is a highly dynamic and competitive space. Companies within this domain face the continuous challenge of pricing their products right to maximize profitability while staying attractive to their customers. In this context, pricing becomes a critical element of their strategy. Let's delve into some of these challenges: 
Rapidly Changing Market Dynamics: Retail and e-commerce markets are highly volatile, with ever-shifting consumer preferences and market trends. Adapting to these changes in real-time is essential to stay competitive. Without the right tools, businesses risk making pricing decisions that are out of sync with market realities. 
Intense Competition: In retail and e-commerce, competition is fierce. With numerous players offering similar products or services, pricing becomes a key differentiator. Setting prices too high can drive customers away, while pricing too low can erode profit margins. 
Complex Supply Chain and Cost Structures: The retail and e-commerce sector often deals with complex supply chain operations and cost structures. Understanding the true costs associated with a product or service is essential for setting optimal prices. Traditional methods of cost calculation can be time-consuming and error-prone. 
Customer Behaviour and Expectations: Today's consumers are more informed and price-sensitive than ever before. Their buying behaviour can change rapidly in response to various factors, including promotions, discounts, and market trends. Retailers must be agile in responding to these changes. 
Competitor Pricing Strategies: Keeping a constant eye on competitor pricing is crucial. Businesses need to respond promptly to pricing moves made by competitors to remain competitive. Manual tracking and analysis of competitor pricing are arduous and inefficient processes. 
Download the sample report of Market Forecast: B2B Price Optimization and Management Software
B2B Price Optimization and Management Software: A Necessity 
B2B Price Optimization and Management Software is the solution to these challenges. This technology leverages advanced algorithms, data analytics, and real-time market insights to help businesses make data-driven pricing decisions. It empowers retail and e-commerce companies to optimize their prices efficiently while taking into account factors like demand fluctuations, competitor pricing, and customer behaviour.
Talk To Analyst: https://quadrant-solutions.com/talk-to-analyst
#In the ever-evolving world of retail and e-commerce#businesses are constantly seeking ways to gain a competitive edge. Among the many strategies employed#B2B Price Optimization and Management Software stands out as a game-changer. Price optimisation and management (PO&M) software solutions en#such as best-next-action suggestions and customer churn warnings. In the industry#vendors either focus on back-office price management and product management roles#or they focus on providing real-time sales intelligence to sales representatives and B2B digital commerce websites#or both. Quadrant Knowledge Solutions#a leading global advisory and consulting firm#has recognized the significance of this technology in their report#“B2B Price Optimization and Management Applications#2023”. Quadrant Knowledge Solutions focuses on helping clients in achieving business transformation goals with Strategic Business#and Growth Advisory Services.#Download the sample report of Market Share: B2B Price Optimization and Management Software#Understanding the Retail and E-commerce Landscape#The retail and e-commerce industry is a highly dynamic and competitive space. Companies within this domain face the continuous challenge of#pricing becomes a critical element of their strategy. Let's delve into some of these challenges:#Rapidly Changing Market Dynamics: Retail and e-commerce markets are highly volatile#with ever-shifting consumer preferences and market trends. Adapting to these changes in real-time is essential to stay competitive. Without#businesses risk making pricing decisions that are out of sync with market realities.#Intense Competition: In retail and e-commerce#competition is fierce. With numerous players offering similar products or services#pricing becomes a key differentiator. Setting prices too high can drive customers away#while pricing too low can erode profit margins.#Complex Supply Chain and Cost Structures: The retail and e-commerce sector often deals with complex supply chain operations and cost struct#Customer Behaviour and Expectations: Today's consumers are more informed and price-sensitive than ever before. Their buying behaviour can c#including promotions#discounts#and market trends. Retailers must be agile in responding to these changes.#Competitor Pricing Strategies: Keeping a constant eye on competitor pricing is crucial. Businesses need to respond promptly to pricing move#Download the sample report of Market Forecast: B2B Price Optimization and Management Software
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shopifyagencies · 1 year ago
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What Are The Different Tools Used For SEO For Shopify Websites
Shopify for SEO has offered unmatched success to e-commerce stores. E-commerce stores have been using optimized Shopify services to attract more customers. But also ensure that the customers will come across the targeted products amidst the vast collection. So, let’s move forward and get an idea of the SEO for Shopify websites and the tools they use to excel well in this competitive field.
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Mastering The Keyword As The Base Of The Foundation
The SEO for Shopify websites starts its work by using tools that ease the process of keyword research. The keyword research process mainly focus on targeting specific industries and products. They recognise the keywords that can easily integrate into the meta tags and descriptions of product lines. Also, which are performing exceptionally well on the keyword list, now this criteria is must to escalate the visibility on the search engine.
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Optimizing The Product Pages To Enhance SEO Work
Seo for Shopify websites developer optimizes the images, descriptions, or titles to create compelling web pages. They use exclusive descriptions for products and make sure that each page is displayed rightfully on the search engine platform. As a result, potential customers can find that easily.
Introducing The Shopify Apps To Optimise The Effort
The SEO for Shopify websites experts does leverage the Shopify apps to streamline the task of optimization. From generating automated meta tags to implementing the scheme mark, all are quickly done. These apps can literally boost your e-commerce store and add an extra touch to search engine rankings.
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Optimizing The Mobile On A Priority Basis For The Best
You need to understand that optimisation of mobile is a must when it comes to SEO for Shopify websites. Professional developers ensure that the e-commerce store is mobile-friendly and excels in offering a unique user experience to tablets and smartphones.
Final Say
Thus, these are some of the most essential SEO tools for Shopify website experts. So you can seriously look for Shopify SEO Services for the best outcome.
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silhouettelover · 1 year ago
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get-wyld · 2 years ago
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Leverage the Power of Social Media with WYLD: India's First Social Currency Payment Card and Brand Collaboration Platform 
Are you tired of traditional marketing tactics that seem to have less impact on today's social media-driven world? If so, it's time to consider leveraging the power of social currency with WYLD - India's first social currency payment card and brand collaboration platform.
At WYLD, we believe that every shopper has a circle of influence, and we help brands leverage this social clout with every purchase. Here's how it works:
Step 1: Users Discover Your Brand on the WYLD App The WYLD app exclusively caters to social media users, where they can discover various brands and their offerings. With a user base of active social media users, your brand can reach a wider audience than traditional marketing techniques.
Step 2: They Directly Make a Purchase on Your Website or Offline POS Using the WYLD Card. WYLD offers a Physicality payment card and mobile app to its users. Users can make purchases on your website or offline POS using their WYLD card linked to their social media accounts.
Step 3: Within 30 Days, the User Gives Your Brand a Shout-out on Instagram. After purchasing your product or service, users are incentivized to promote your brand by giving you a shout-out on Instagram. This helps in word-of-mouth marketing, which is considered to be one of the most effective marketing tactics.
Step 4: You Pay a Metric Based Cashback to the User on Their Purchase. As a brand, you pay a metric-based cashback to the user on their purchase, which incentivizes them to make more purchases and promote your brand further .
So, what's in it for you as a brand? A lot!
WYLD Card: New Customers By joining the WYLD platform, you can attract new customers who are active on social media. These customers have a high potential of promoting your brand among their social circle, leading to more sales.
WYLD Card: Word of Mouth Marketing Word-of-mouth marketing is considered to be the most effective marketing tactic, and WYLD helps you achieve just that. With the help of WYLD, your brand can reach a wider audience through user-generated content and shout-outs on Instagram.
WYLD Card: User-Generated Content User-generated content is a great way to build customer trust and loyalty. With WYLD, you can generate user-generated content at scale and showcase it on your social media handles. In summary, WYLD is a brand collaboration platform that helps you optimize your brand sales with the power of the social currency. Join us today and start building your brand with WYLD's social currency payment card, and get access to various brand discounts and other benefits.
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anandmahato · 2 years ago
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txttletale · 1 year ago
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ever thought that less roleplaying games should be about loveable fantasy heroes saving the world and more of them should be about pathetic and petty aristocrats trapping each other in concentric layers of convoluted madcap scheming? well good news, my ttrpg most trusted advisors is on sale again! it's a silly pseudomedieval pastiche optimised for playing low-prep, light-hearted one-shots as a party of characters at the intersection between lord vetinari, blackadder, and the gang from it's always sunny, and it's 50% off through to the 26th of december!
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neorph · 5 months ago
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*   LIGHTSEEKER  :   A PRO CARRD TEMPLATE  this is a minimalistic template designed for single muse blogs. includes a static header and four built in pages [ home landing page, guidelines, a detailed muse profile page and verses page ] and other features ; it is optimised for viewing on computer screens but is functional on mobile, albeit a little wonky looking.  this template requires AT LEAST A PRO PLUS ACCOUNT AND A FREE SITE SLOT  [  you can use my referral code NEORPH  to upgrade your account  ] and is for  PERSONAL USE ONLY.    DO NOT REMOVE CREDIT, REDISTRIBUTE OR MODIFY FOR RESALE.
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suitov · 2 months ago
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"Hey, Izuru," mumbles Chiaki into her screen. Belatedly, and with a twinge of anxiety, she turns her head, but yeah, it's him. She's not sure how she could tell, but she's seldom wrong.
"Greetings," says Izuru. He says it in the I'm Making The Effort Because Real People Do The Meaningless Social Rituals tone.
She's actually had to train him out of that a little. Not in private, she keeps telling him. I don't wanna spend the spell slots on that either.
"Anything good today?" she asks. She asks, she's told him, because she wants to know. If she didn't want to know, she wouldn't. So he can answer truthfully if he wants, or not answer at all. But no B.S., please.
(She doesn't like to curse outright. It seems bad form for a class rep. But that just means she has an excuse to be more creative.)
"Charity car washing is boring. Charity bake sale is boring. Charity wet t-shirt contest is boring. I saw a wagtail and gave him mealworms."
"Birdy... I like that." She lets go of the worse world and steps back into the real one.
"Shrieker there."
"I see it."
She waves a hand vaguely sideways and, luckily, he interprets it correctly and pulls up a beanbag.
Chiaki makes a happy hum.
Ten minutes later, she asks whose idea the "wet t-shirt contest" was.
"Chef. I optimised his process. He was making people put them on and then run around in the sprinkler."
Chiaki giggles.
"He didn't seem... happy, with the improved procedure."
"Well, he can use his words like a big boy and tell you if he's got a problem."
"I said that to him seventeen days ago when he was throwing pans around and he seemed to get happier and said I should call him big boy more often."
"Huh." She doesn't really get Teruteru. She doesn't trust him. She wonders if that makes her a prejudiced person.
"Sensor there."
"Mm," she says, because they don't need to pronounce the full thank you when it's just them. It just feels more impersonal to say it. "Oh... I got snacks in, if you want."
"Sakuramochi?"
"Of course," she says with a vague smile. "I'm not a heathen."
He hadn't liked kusamochi when he tried them.
She'd had to send him home and go to bed early that night. And cry a little.
She'd been grateful that he hadn't asked.
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dandelionsresilience · 8 months ago
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Good News - May 1-7
Like these weekly compilations? Support me on Ko-fi! Also, if you tip me on Ko-fi, at the end of the month I'll send you a link to all of the articles I found but didn't use each week - almost double the content!
1. New study says conservation works, providing hope for biodiversity efforts
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“A new study published in Science reveals that conservation works, with conservation actions improving or slowing the decline of biodiversity in two-thirds of the cases analyzed.”
2. Monk Seal Pup Debuts in Waikīkī on Lei Day
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“Endangered Hawaiian monk seal RK96 (Kaiwi) gave birth to her sixth pup on popular Kaimana Beach in Waikīkī, Oʻahu! […] Hawaiian monk seals are one of the most endangered seal species in the world, so each pup represents hope for the species’ recovery.”
3. West Coast Indigenous-led marine conservation area gets global spotlight
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“A coastal First Nation is celebrating global recognition of its marine protected area after recently snagging a “blue park” designation that highlights exemplary ocean conservation efforts around the world. […] Kitasu Bay supports one of the last abundant herring spawns along the central coast, vital to the nation’s communal herring roe on kelp (ROK) fishery - which harvests the protein-rich eggs but leaves the fish alive to flourish and spawn again.”
4. The number of fish on US overfishing list reaches an all-time low. Mackerel and snapper recover
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“The report states that 94% of fish stocks are not subject to overfishing, which is slightly better than a year ago. The U.S. was able to remove several important fish stocks from the overfishing list, NOAA said in a statement. […] The removal of species from the overfishing list shows the U.S. is making progress, said Rick Spinrad, NOAA’s administrator.”
5. Researchers Collaborate with the Shipping Industry to Cut Costs, Fuel Consumption and Greenhouse Gas Emissions in Shipping
“Through coordinated ship scheduling and an optimisation of ship operations and port services, the objective is to achieve a substantial increase in energy efficiency and a 10-20% reduction in fuel consumption, consequently resulting in lowered greenhouse gas emissions [and] leading to substantial economic benefits for shipping and environmental advantages for society[….]”
6. The city flower farm that is changing lives
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“Heart of BS13 Flowers in Hartcliffe is part of the wider Heart of BS13 charity which tackles food insecurity in south Bristol. Profits from the flower sales to run workshops, offer volunteer and trainee placements, and create education opportunities for people from Hartcliffe.”
7. Four falcon chicks hatch in Glasgow university tower
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“Members of the [Glasgow Peregrine] project hope to […] fit [the chicks] with electronic tags that will enable monitoring of their movements. Mr Simpson added: "With the identification tags we can see where they have gone, how high they fly and other information that would be really useful." In recent years the group have held peregrine watches at the university, allowing people to see the birds in their nest.”
8. 'Banana pingers' are saving whales and dolphins around the world
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“[T]he Kibel brothers, Pete (a fisheries biologist) and Ben (an engineer) […] have been utilising light to protect turtles, sound to protect porpoises and electro pulses to protect sharks. [… Trials] showed reduced average catch rates of blue shark by 91%, and catch rates of pelagic stingray by 71% […as well as] a fall in the number of sea turtles being trapped by 42%.”
9. New vaccine effective against coronaviruses that haven't even emerged yet
“Researchers have developed a new vaccine technology that has been shown in mice to provide protection against a broad range of coronaviruses with potential for future disease outbreaks -- including ones we don't even know about. […] The new vaccine works by training the body's immune system to recognise specific regions of eight different coronaviruses, including SARS-CoV-1, SARS-CoV-2, and several that are currently circulating in bats and have potential to jump to humans and cause a pandemic.”
10. Grassland birds, Forest birds and Other Migratory Birds to Benefit from More Than $22 Million in Funding Throughout the Americas
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“This year, more than $4.87 million in federal funds will be matched by more than $17 million in partner contributions going to 30 collaborative conservation projects in 19 countries across the Americas. “These investments will [… protect] millions of acres of diverse habitats needed by grassland birds, forest birds and shorebirds for wintering, breeding and migration,” said Service Director Martha Williams.”
April 22-28 news here | (all credit for images and written material can be found at the source linked; I don’t claim credit for anything but curating.)
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digitalmarketinginfo1 · 10 months ago
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Want to know how to Use Digital Marketing tools for Lead generation for your business? Click the link below to our blog.
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rogha · 4 months ago
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Being a project person with ADHD is terrible i went to bed nice and early last night and was reminded of my desire to own a library chair and spent like. 3 hours online looking for one for sale that was not 100+ euro, then looking up how to make one, then trying to price the materials, then thinking ‘you could probably make one library chair out of two regular chairs’, then looking up ‘how to make a library chair out of two chairs’ and then seeing no one does that or at least no one does that and records it with optimised google keywords for me to find it, then trying to find out why and concluding that people who make library chairs probably like making the whole thing as they are woodwork people, then searching for two secondhand chairs for sale I think could be made into a library chair, finding very few chairs sold in a pair, then worrying that I will accidentally buy and destroy a set of two unique antique chairs even though I think it would be better to use a more modern style of chair to do this anyway, then thinking it would be better to check ikea, then finding a likely candidate for the project on ikea, then looking up an assembly video and the instructions to see how the chair is built to try design the library chair in my head, concluding it’s probably possible but I need to maybe consult reddit, deciding it’s no time to buy two chairs for a diy project, and thinking about when I am likely to have chair money, and wondering if it would be a good idea to make a cushion for the library chair because the hinges seem like they would not be comfortable to sit on, and how would the cushion factor in, and deciding I could just tie it on then thinking ‘slow your role you cant buy chairs until at least november’ and going to sleep finally.
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shopifyagencies · 1 year ago
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Seo for Shopify websites: Information on technical expertise
Digital stores these days compete for consumer attention and visibility. Indeed, the e-commerce landscape has evolved multiple times because of search engine optimisation. Seo is the crucial defining factor that makes e-commerce stores have a distinguished identity and brand value among consumers. Despite myriad Seo platforms to a large extent, Seo for Shopify websites is making a prominent name in the domain. So let's discover a few facts that distinguish Seo for Shopify websites from others.
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Seo for Shopify websites have more Technical expertise
The technical expertise of the Seo for Shopify website is vital as that directly impacts the online presence of the store. Shopify uses platforms that are easy to set up and user-friendly. Ofcourse, a Seo for Shopify websites tends to improve the website's performance on the search engine ranking pages.
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Navigation and structuring of the online store
The Seo for Shopify websites is well optimised, creating preciseness in the product listing, categorisation and pages. It is essential to structure the website rationally as it improves the user's experience. It also makes the search engine crawl seamlessly. Even indexing can be done quite effectively. Seo experts with technical prowess ensure that the URLs are cohesive and concise. Also, it's free of unwanted parameters. Thus, it makes it more search and user-friendly.
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Keeping mobile optimised
You should know that most of the digital traffic comes from mobile devices. That's why it's vital to keep the mobile optimised. In this regard, Seo for Shopify website is imperative. And Seo professionals with technical knowledge use different screen resolutions and sizes to check which is appropriate for the fast loading of products. And ensures that users can shop without any hindrance.
Final Say
It's time to take leverage the Seo for Shopify websites to make your online presence stronger. Thus, Shopify Seo services will put your e-commerce business on the front seat, increasing your earnings.
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digitxlagency · 1 month ago
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How Can You Improve Conversion Rates in Digital Marketing?
In digital marketing, conversion rates are the ultimate measure of success. Whether you’re aiming to increase sales, generate leads, or drive downloads, improving conversion rates ensures that your marketing efforts yield tangible results. Knowing the ways to effectively increase your conversion rate is essential for achieving these goals and optimising your campaigns.
This blog explores actionable tips and strategies to improve conversion rates, helping you create a seamless user experience that encourages your audience to take action. By implementing these strategies, supported by experts like a CRO agency, you can transform website visitors into loyal customers.
What Is Conversion Rate and Why Does It Matter?
A conversion rate is the percentage of users who complete a desired action on your website, such as making a purchase, signing up for a newsletter, or filling out a contact form. High conversion rates indicate that your audience finds your website engaging and your offerings compelling. It’s a key metric for measuring the success of your digital marketing campaigns.
If you’re looking for tips to increase your conversion rate, start by analysing your user journey and identifying potential barriers. Conversion rate optimisation (CRO) focuses on enhancing the user experience and aligning it with your audience’s intent.
Ways to Effectively Increase Your Conversion Rate
Here are proven strategies to boost your conversion rates in digital marketing:
1. Simplify Your Website Design
A clutter-free, user-friendly website improves navigation and encourages visitors to stay longer. Ensure your site is visually appealing, easy to navigate, and mobile-friendly. Use clear call-to-action (CTA) buttons to guide users toward the desired actions.
2. Optimise Landing Pages
Landing pages play a crucial role in conversions. Focus on:
Crafting compelling headlines.
Using high-quality visuals.
Highlighting benefits with concise, persuasive copy.
Test different layouts and designs using A/B testing tools to identify what resonates best with your audience.
3. Leverage Social Proof
Showcasing reviews, testimonials, and case studies builds trust and reassures potential customers of your credibility. People are more likely to convert when they see others have had positive experiences.
4. Improve Page Load Speeds
Page load speed directly impacts user experience. Slow-loading pages can frustrate visitors, causing them to leave before taking action. Use tools like Google PageSpeed Insights to diagnose and improve performance.
5. Personalise User Experiences
Tailored experiences make users feel valued. Use tools to analyse user behaviour and deliver personalised recommendations, dynamic content, and targeted offers.
6. Streamline Forms
If your goal is lead generation, simplify your forms. Ask only for essential information to reduce friction and increase the likelihood of users completing the form.
7. Collaborate with Experts
Partnering with a conversion rate optimisation agency in Australia can help you implement advanced CRO techniques. Experts bring a wealth of experience, ensuring you maximise your marketing ROI.
Best Practices for Conversion Rate Optimisation
Test Regularly: Continuously test and tweak elements such as CTAs, images, and layouts.
Focus on Customer Pain Points: Address common objections or concerns within your content.
Analyse Data: Use analytics tools to track user behaviour and identify drop-off points.
Follow Up: Implement retargeting campaigns to engage users who didn’t convert initially.
Conclusion
Improving conversion rates in digital marketing requires a combination of user-centric design, data-driven insights, and effective strategies. By focusing on the ways to effectively increase your conversion rate, you can achieve better results and drive significant growth. For expert guidance, consider collaborating with CRO agencies or seasoned SEO marketing professionals who can help elevate your campaigns.
Frequently Asked Questions
How to increase conversion rate in digital marketing?
To improve conversion rates, optimise your website for user experience, create compelling CTAs, and use social proof like testimonials. Personalisation and faster page load speeds also make a significant difference.
Which three actions can improve your conversion rate?
Simplify your website design and navigation.
Leverage A/B testing for landing pages.
Highlight social proof to build trust.
How do you get a good conversion rate?
A good conversion rate comes from understanding your audience, delivering relevant content, and creating seamless user experiences. Regularly testing and refining your strategies is key.
What is the conversion rate for digital marketing?
Conversion rates vary by industry, but an average rate across industries is typically between 2% and 5%. With effective CRO strategies, it’s possible to exceed these benchmarks.
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eaglesnick · 4 months ago
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“No government that is for the profiteers can also be for the people, and I am for the people, while the government is for the profiteers.”— Rose Pastor Stokes
There is a cost of living crisis and it is not about to end anytime soon.
Food and non-alcoholic drink inflation reached a peak of 19.2% in October 2022. Although food and drink inflation is now much lower, it is never the less still rising, being 1.8% higher than a year ago. Today, the Uk  has the highest core inflation rate among the G7 countries as well as the highest level of food price inflation. A study by BravoVoucher predicts the cost of everyday food items will increase rapidly by 2030.
“This research provides a scary look into the future of food prices if current inflation trends continue. The dramatic increase we’ve seen in prices for everyday essentials like olive oil and baked beans is particularly concerning. It highlights the urgent need for effective economic policies to stabilize inflation and protect consumers.” (Social Equality: 22/07/24)
While food inflation is set to rage, super markets continue to make record profits. 
Asda reported  £1.1bn in profit for year ending 31st December 2023, a 24% increase on the previous year. Tesco reported raking in a massive £2.83bn in profit, a 12.7% increase on the year before. Simsbury’s is predicting profits of £1bn in 2024, and Waitrose has reported a 17% increase  in profits.
The lower end supermarkets are making even bigger profits. Lidl reported a quadrupling of profits for the year ending February 2022, and Aldi tripled their profits over the same period.
The point I am making is that while the cost of living crisis continues unabated the major supermarkets are busy increasing profits for their shareholders. There are many reasons the cost of food has increased, from global supply chain disruption, a rise in energy costs, to increased food production costs, but one that is never mentioned is the massive spike in supermarket profits.
Yesterday I talked about dynamic pricing – the practice of changing prices to match demand and supply – the most ridiculous example of this new form of greed being walking into a Stonegate pub at 8pm and being charged 20p more for a pint than if you had ordered the exact same drink a few hours earlier.
Tesco already use dynamic pricing for their online shopping platform, to allow:
“the company to optimise its pricing for maximum profitability” (The Strategy: Tesco Marketing Mix)
OK, so dynamic pricing is employed for Internet food sales. Most of us still prefer to go to the supermarket in person and “feel the goods” as it were. So we are safe from dynamic pricing. NOT SO!
More and more of British supermarkets are introducing dynamic pricing to the “in-store” experience in the form of electronic shelf-edge labels. (ESL’s)  Tesco, Sainsbury’s, Morrisons, Asda and M&S are all reported to be experimenting with ESL’s using Artificial Intelligence to generate algorithms to determine price minute by minute. Electronically displayed prices on the edge of shelving means prices can be changed minute by minute depending upon demand and supply.
Gone is the notion of value for money. The only thing that will matter  will be how much the customer is willing to pay for any particular item at any given particular moment in time, regardless of what it cost to produce.
If price is going to be determined by how much people are willing to pay, how long before we have the scenario of the  sole remaining can of baked beans on a Tesco shelf being sold not at its current price of  £1.40 per can but at £2.50 simply because one shopper has more money than another?
Profiteering has been described as:
“The practice of making or seeking to make excessive or unfair profit, especially illegally or in a black market”
Profiteering now has another definition: dynamic pricing.
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