Your sellers' pricing affects your online shopping mall platform customers' acquisition and retention significantly.
Thus, monitor your vendors' pricing
to remain competitive.
Besides, establish price regulation
within your platform to avoid pricing wars.
Uber controls the ride's pricing completely, while Etsy prohibits the pricing coordination
Walmart's automated price monitoring system catches its pricing policies violation, and the virtual multi-store marketplace platform unpublish the listing and notify the seller in order to fix it.
The ecommerce marketplace solution Amazon guarantees the best offers to its shoppers through the price parity
: vendors are obligated to offer the price that is at or below
the lowest total price offered on any other channel.
Thus, the multi-vendor marketplace center is not only monitoring pricing on the platform but also discovering if its sellers set lower prices anywhere else. In this case, the online shopping mall platform automatically reduces their pricing to meet or beat the lowest price.
Also, such strict regulations and monitoring help to prevent price dispersion
: variation in prices across sellers of the same item. As the Online Price Dispersion Research shows
, many online sellers don't adjust prices frequently, thus the regulation from the online marketplace trading center side is necessary.
Many sellers lack the experience on how to price their listings. Thus, you may provide your vendors with education about pricing
Besides, ensure that your sellers understand your ecommerce marketplace pricing strategies and the benefits of complying with them, like top spots winning
The virtual multi-store marketplace platform Amazon allows sellers to win the Buy Box, where most sales are happening, in case if they match
the online shopping mall platform pricing requirements: