Every ecommerce store uses pricing, but few have the time necessary to capitalize on its power. Pricestack automatically optimizes your prices, enabling you to worry less and profit more!
Why Optimize Your Prices?
As your ecommerce business grows and changes, so do the tastes, preferences, and budgets of your customers. Pricestack enables you to adapt to changing demand and drive higher average order values and profitability.
Agile Testing
Pricestack adjusts prices, automatically collects data, discovers your optimal prices, and continuously adapts to ever‑changing consumer tastes. By collecting data on the results of price adjustments, Pricestack enables you to learn from your customers and their behavior.
We test your current prices before trying nearby variants (i.e., $14.99 or $19.99 instead of $17.00). Our model then determines the optimal directions for your next test prices and repeats this process to optimize your prices.
Automatically Optimize
The perfect price is what your customers are willing to pay, not what your competitors are charging. Pricestack analyzes your customer behavior and optimizes your prices to help you achieve your goals. We currently support maximization of:
- Gross Profit (maximize your gross profit per visitor based on inventory-item costs)
- Revenue (maximize revenue growth with net-zero margins), or
- Gross Profit and Revenue (favor profit but place some value on profitless revenue if it helps to drive growth)
Weekly Reporting
Every week you will receive a report from Pricestack noting your progress. Some key metrics in this report will include:
- Total and Per-Visitor Gross Profit
- Total and Per-Visitor Revenue
- Number of Unique Visitors
We provide you with our measure of unique visitors to illustrate that a change in the number of unique visitors will not affect per-user metrics. This enables us to optimize your prices even if your traffic pattern is erratic.
Some Key Details
- Pricestack will override the prices of your Shopify products every week or two (we exclude products that have variants with different prices)
- We monitor your store’s inventory cost data. Ideally, each of the inventory items associated with a product will have the same cost. As an example, if a large t-shirt costs $5.00 per unit, then its corresponding small and medium sizes should also have inventory costs of $5.00 per unit.
- You can set compare-at prices and offer discount codes as you normally would!
Integration
We set product prices normally without overriding checkout. As a result, we are compatible with almost every app that doesn’t discount your products or manipulate your checkout process. Please feel free to reach out to our support to request a compatibility check. We're happy to help!
