Steven Pope

Yeah, absolutely.

So let's let's dig into catalog merchandising and why it's so important.

So I think the best way to actually kind of start that as well, is to talk about something called dynamic pricing.

And so I'll pull something up here on the screen here in a second.

But we have even on our website, entire article that we put together, but we have a guide to what is called dynamic pricing.

But what is dynamic pricing?

So dynamic pricing is basically the practice of once per month or once per

week, even it can be individualistic, right of timeline, but it's essentially where you are doing a very specific price point for shoppers, right, you are trying to get a boost in overall sales volume and revenue.

And this is where the idea of merchandising in general comes into play.

And

A lot of people probably don't even realize that this takes place all the time in even like retail and grocery stores, right?

Every single person has gone through a grocery store on let's say a Tuesday and notice that Tuesdays have very different deals and sale prices for different types of products compared to Saturday or Sunday, right?

And that is very intentional.

That is what we consider to be dynamic pricing in the sense that we are basically setting up a specific sales cycle that

so that we can boost sales during specific periods.

So dynamic pricing is something that we always play around with.

And on average, we're going to typically see sellers get a two to three X in daily sales volume increase during these dynamic pricing times.

We ourselves typically are going to tell people at least once per month to run some form of dynamic pricing.

The goal at the end of the day with dynamic pricings, and we can dive into pro con here, right?

But the idea is essentially that you're trying to increase the price competitiveness for a short period of time, get yourself an initial sales boost.