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There’s no part of inventory management that’s more subject to mind games than pricing. The way you set your prices dictates a lot about the consumer’s behavior—whether they realize it or not. Sales pricing strategies are important because they help you understand your customers’ needs and preferences. They also determine the best price point for driving revenue.

A/B testing pits product variations against each other to eliminate products or strategies that aren’t effective. That way you can maximize profits and conversion rates on the items you do sell. It’s not just about raising or lowering prices. It’s analyzing your inventory as a whole so you can make business decisions based on data, not intuition.

Cycle counting is the process of counting small sections of your inventory so you cycle through your entire inventory on a consistent basis. Many business owners aren’t fully aware of all the products on their shelves and in the back of their warehouse. This not only impacts your inventory records, but means you probably are making business decisions based on guesswork rather than data.

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The “Aha!” moment when a new customer says “So that’s why my sales reports are all messed up!”. It comes down to how you, and Shopventory, track your Cost of Goods Sold.