Mesage

Sciative Knowledge Series : The Future of eCommerce Pricing

The Future of eCommerce Pricing

Monday, Jan 9th 2017, 04:30 PM CST

Abstract

When a thousand other stores sell the same products via the same Alibaba platform then optimization becomes critical. China adopted leading-edge market science to leapfrog the world with the future of eCommerce pricing. Chinese eCommerce stores of any size can generate full Demand Curves from only 30 days of data. Pricing complicated multi-product portfolios boost profits by over 20% while preserving market share. Same-store cannibalization has been eliminated. And when competitors discount, Chinese sellers don’t blindly match prices like their western counterparts – they calculate their “Best Response” to protect revenue without sacrificing margin and accelerating a price war.

Attendees will learn how apply this leading-edge science to optimize their own business. Specifically, attendees will learn how to:

  • calculate the Willingness To Pay (WTP) of eCommerce customers
  • generate full Demand Curves from only 30 days of data
  • price multi-product portfolios that boost profits from existing customers
  • calculate the “Best Response” to a competitor’s price change
  • use O2O to apply eCommerce insights to brick-and-mortar stores

Speaker

Ted Hartnell

Bio

Ted Hartnell is the Chief Architect of the Radar eCommerce Optimization software by Revenue Watch (http://radar.revenue.watch). Radar is built on Artificial Intelligence (AI) and Big Data.

Prior to Radar, Ted was the Managing Director who bought PROS (Price and Revenue Optimization Software) to China and East Asia.

Before PROS, Ted was at a Goldman Sachs subsidiary developing Wall Street’s high-frequency pricing and trading platforms.

Ted has an Engineering degree (EECS) from Sydney University, and an MBA from UC Berkeley. Ted’s post-graduate research was conducted at Dartmouth College.