Price Sensitivity

Basics #

Most webshops sell a wide variety of products across highly different price ranges. For instance, a furniture store might sell couches ranging from just €200 to €10,000.

There will always be a difference in how much customers are willing to spend on your products, and your marketing needs to reflect this to be effective.

Price Sensitivity allows you to segment customers based on how much they are willing to spend on your products, enabling you to find the perfect segments for various product price ranges.

Price Groups #

Clerk.io’s AI automatically segments customers into one of three groups based on the average price of the products they have purchased.

Cheaper Products #

These customers tend to buy products with prices lower than your store’s average. It often makes sense to target these customers with lower-range products and discounts, as they are quite sensitive to price.

Buys Average Priced Products #

These customers tend to buy products with prices around the average of your store.

They generally do not lean to one side or the other, and as such, should receive marketing for a more varied product selection, excluding the most high-end expensive items you have.

Buys Expensive Products #

These customers tend to buy your most expensive products.

As such, you can send marketing on your high-end products to this group with a high chance of conversion rate, because they are not sensitive to price. If anything, they prefer your more expensive items, likely due to their quality.