Mass retailers
Mass retailers - price monitoring 'en masse'
Specifics
- Due to the diverse nature of the products offered, it’s pretty rare that EAN / MPN part numbers can be consistently used for product matching
- Due to the short product life-cycle, and the large number of products to be matched – most of our clients do product matching themselves (as they usually have in-house teams for such tasks)
Greatest challenges
- Due to the large number of products to be monitored across different competitors and frequent price changes, clients in this industry struggle with time-consuming competitor monitoring processes.
- Staying competitive in the market often involves dynamic pricing strategies. Implementing automated pricing algorithms while remaining profitable is a challenge for mass retailers.
- As mass retailers operate in a highly competitive market, they can not be focused only on the market price – there is a need to track additional details about the products such as seller names, shopping details, etc.
Our clients
BEST PRACTICES AND SOLUTIONS
Pricing dashboard
Price change alert emails are not considered that efficient (knowing the number of products involved in price monitoring). Instead, our clients are relying more and more on the Pricing dashboard, where they define their own reports showing recent price / stock changes.
Pricing strategy / dynamic pricing
Dynamic pricing is just one step away – by automating repricing actions. This way Price2Spy becomes dynamic pricing engine for your online store.
Alert emails
Price change alert emails are the most commonly used and easiest way of monitoring the price changes (there is also an option for combining them with Automated Price matrix report)