Pattern’s data science team analyzes extensive product pricing data on Amazon to discover trends and insights about product pricing for different categories. When looking at products popular for MLB Opening Day (March 30) this year, Pattern’s teams discovered that the inflation we’ve seen for other categories doesn’t seem to apply to most products related to MLB teams, such as jerseys and hats.
As brands gather data to determine their strategic direction for their products, it’s helpful to understand pricing trends in their category, shifts in competitors’ pricing, and overall ecommerce pricing trends. Pattern’s data, technology, and experts can help you get the information you need.
MLB Opening Day Products Largely Unaffected by Inflation
As with St. Patrick’s Day product pricing, hats and jerseys for MLB teams showed a slowing rate of inflation. On average, the cost for baseball hats and jerseys only rose by 3.98% since Opening Day 2022. The price of hats and jerseys for the majority of MLB teams looks fairly similar to this time last year.
Some MLB teams’ jerseys and hats even experienced a inflation reversal since Opening Day 2022:
Accurate Data Leads to Successful Strategy
Having access to accurate data helps brands make better decisions on their pricing strategies. When brands are making big decisions like pricing changes, having internal data like historic product performance data and revenue goals is key to successful changes. As brands become more aware of ecommerce shifts, competing products, and marketplace trends, they are in a better position to make critical pricing decisions.
Get Data Driven Ecommerce Insights With Pattern
As an ecommerce accelerator, Pattern is determined to help global brands succeed. We’re obsessed with gathering data, highlighting the insights, and identifying trends in order to help brands in all categories accelerate their business on all ecommerce marketplaces.
We know how to help brands turn ecommerce marketplace and consumer data into an actionable and successful strategy to grow profitability all season long.
For more marketplace information specific to your category, contact us here.
