Today’s retail landscape is rapidly evolving. With access to anytime/anywhere information via their smartphones, shoppers have unprecedented visibility into product and pricing information. This infographic outlines the 3 key reasons why online retail price intelligence matters for every retailer - whether you sell online or not.
Internet retailing giant Amazon.co.uk has cancelled all pre-orders for the Nintendo Wii U, priced at £199.99.
The original announcement of Amazon's low pricing strategy for the Nintendo Wii U product sounded like a deal that was too good to be true.
The etailer has now stated that "the product was listed in error" as the reason for the order cancellations.
Amazon has removed the black version of the Wii U from its webstore. Meanwhile, the Wii U white page does not offer any prices for the product. Shoppers can sign up to receive an email when the product becomes available.
"We're writing to you regarding your order for the Nintendo Wii U console. Your order has been cancelled as this product was listed on Amazon.co.uk in error," stated Amazon's email to customers. "Please accept our apologies for any inconvenience caused. You will not be charged for your order."
It continued, "If you're interested in ordering the Nintendo Wii U console when it becomes available, you can sign up to receive an email here: http://www.amazon.co.uk/dp/B004Y59P3A".
Rival retailer ShopTo has predicted the Wii U price as £280; its offer is available to pre-order in either the black or white colour.
Wii manufacturer Nintendo has not confirmed a price or date of release for the Wii U; the release date is expected to be during the summer. Nintendo President Satoru Iwata has stated that the company will seek a price that is "reasonable in comparison to the value to be offered."
Savvy shoppers may remember when the Nintendo 3DS was listed cheaper than its RRP by a UK retailer; customer orders were then cancelled by the seller.
Profitero regularly spots incorrect pricing on retail websites using our online competitor price monitoring technology. Such errors in online pricing highlight the need for retailers to pay closer attention to their online pricing to ensure they do not miss out on vital sales.
© Profitero 2012
Pricing intelligence company Profitero works with retailers and manufacturers to help them increase sales and maximise their profits by using competitor price, promotions and stock information at scale. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email firstname.lastname@example.org.