Nikolay Savin

Nikolay Savin

Nikolay Savin is the Head of Product at Competera, a price optimization software for retailers.

How Retailers Should (and Shouldn’t) React to Competitors’ Price Changes

Shoppers cite the price of a product to be the primary reason to choose purchasing it from a particular retailer. In fact, as many as 60 percent of consumers opt for a seller with the optimal price. In most cases, consumers compare prices offered by retailers for so-called key value items(KVIs). They value such products the…

Price Optimization Helps Consumer Electronics Retailer Raise Revenue by 16%

In any difficult situation, cut the price. That’s the basic rule omnichannel consumer electronics retailers use when setting prices. And copy the moves of your competitors. That’s rule No. 2. If a retailer suddenly changes the price for a particular product for a specific reason — e.g., lowering the price to liquidate excess inventory —…