A recent report by Salesforce indicates global online sales fell 2% year over year in the first quarter of 2023. With decelerated economic growth, it’s no surprise that consumer sentiment and discretionary spending is still recovering. Instead, e-commerce brands are now facing a shift in consumer loyalty. Shoppers are flocking to brands based on product pricing and the value of promotions.
That’s why we’re excited to dive into our feature: Dynamic Pricing. Your go-to tool to manage dynamic discounts on your storefront, effortlessly and effectively.
Introducing Dynamic Pricing by Abra
We’ve all seen it: an inbox filled with “hey, discount code didn’t apply”. Four different Shopify apps to manage store discounts, some, you’re not even sure work. High dropoff rates and an even higher number of abandoned carts.
The reality is that online store owners are not seeing customers converting even when they offer discounts. The culprit? When the discounted price of an item is inconsistent and hidden throughout a buyer’s purchasing journey, they are often left unsatisfied at checkout, and abandon their carts.
With our Dynamic Pricing feature, say goodbye to one off, malfunctioning, and unengaging discount codes. Instead, say hello to a reimagined digital experience that gives each customer a customized promotional experience. Relish in full control over your promotion’s visibility, offer type, and storefront appearance—boosting your conversion rates.
Benefits You Unlock
With Dynamic Pricing you’ll unlock pretty compelling benefits for your business:
- Save time and consolidate your workflow. Setting up and managing promotion campaigns for your customers is difficult and limited with Shopify’s native functionality. Our Dynamic Pricing feature lets you consolidate your workflow, manage everything in one place, and track your campaign’s effectiveness in one view.
- Supercharge your promotion strategy. Instead of spending hours spinning up promotional landing pages and manually changing pricing to reflect discounts, let Abra do the work for you. Give customers a tailored experience on your store with Dynamic Pricing. Run discount campaigns that connect directly from ads, e-mails, and social channels to your online store.
- Increase your top line. Consumer appetite may be slow, but you still have sales targets to hit. At Abra, our features make sure you capture customers from all stages of your funnel to boost your conversions. Best of all, run multiple campaigns simultaneously to target your different customer segments.
- Boost brand loyalty. No more unpleasant surprises at checkout. Over time, build trust with your customers through consistent and transparent pricing. Build a customer loyalty engine, giving them a seamless store experience everytime they make a purchase.
How Dynamic Pricing Works
Once Abra is installed on your storefront:
- Choose your offer: Select a promotional offer that’s capturing your target market, this can be a fixed dollar amount of an item or a percentage off a product or an entire order
- Tailor the visibility settings: Choose your visibility settings, it can either be a private promotion–only visible to customers with the Abra link, or public–available to everyone that visits your store
- Design your storefront: Customize how and where you want the promotional banners to appear on your storefront
- Ready, set, live: Push the promotion live and share it with your customers, when a customer clicks on an Abra link, they will have a customized store experience with a pop up alerting them that the discount code has been applied
Now customers will see the new price and amount discounted while browsing the store. Most importantly, this price will be consistent throughout their buying journey.
To learn more, explore our documentation.
How Will You Use It?
Curious how dynamic pricing looks in action? Here are a few case studies of how the existing Abra community uses it.
“We run a lot of paid ads and we've noticed an increase in conversions using the Abra link saving us some ad spend! [...] Will be using this app for all my discounts now.”
Bam&Boo, a Portuguese clean beauty brand doubled their conversion rate from 14% to 33% through embedding an Abra discount link in their reactivation email campaign. They offered a 30% off discount + free toothpaste to re-engage dormant customers and eliminate their deadstock.
“Amazing app! It's helped us improve our customers' experiences, as well as our conversion rates. We tried it out with the launch of an email campaign, and the results were immediate.”
Ocushield – a medically rated blue light blocker screen protector & glasses – used Dynamic Pricing for their warehouse sale. They shared a private discount link where customers can see a 15% off banner and new prices reflected throughout the store.
“This is what Shopify's native discounts should look like. [...] Abra helped us achieve what we needed by guiding us through and taking care of some of the customisations. [...] You have the ability to use some of the user friendly features out of the box without the need for a developer, or leverage their APIs to achieve extremely customised user experiences.”
If you’re interested in setting up Dynamic Pricing for your store, book a demo with us. At Abra, we’re always here to help guide you in your ecommerce journey.