Pricing and Placement for Stores and E-Commerce

Pricing and placing adjustments can help restore customer interest in a particular product or seller, which is relevant in the post-pandemic period. This aspect is most significant for the activities of brick-and-mortar stores, which suffered greatly from the lockdown. Thus, manipulations with pricing and placement will allow such stores to restore the flow of customers or attract new ones. However, these changes must be made using competent marketing analysis and taking into account the needs of customers.

An important fact, in this case, is the presence of an eCommerce site at the store, which makes it more attractive to consumers in these conditions. Therefore, the first idea would be to provide additional discounts to customers in physical stores to attract people. By comparing the price on the Internet and the actual store, customers can find a lower price as a more attractive offer, which will allow them to return to the store. This assumption is also consistent with the fact that the perception of prices also depends on the ability to pay, which is also relevant in the post-pandemic period. This strategy will allow not reduce the value of the offered products but make them more attractive and accessible to customers.

Another important tool for returning customers is placement, which will help grab the attention of customers. The second idea is to launch a product that will be distributed exclusively through a physical store. This aspect requires an analysis of purchasing habits and needs in order for the product to be relevant to consumers. Providing an additional discount on a new product will also help increase demand for it. Thabit and Raewf note that “by increasing the product’s price, the product demand will be decreased and lesser distribution points will be desired.” Thus, the reverse process will increase the demand for the product, which will also complement the interest of the customers. Using pricing and placement will help focus customers’ attention on the attractiveness of physical stores in contrast to eCommerce sites, which will encourage returning customers after the lockdown.

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