With over 250 employees and a 4000 dealers network, they bring a new perspective to the eCommerce sector while providing the best online shopping customer experience.
However, this level of success comes with problems regarding automating pricing decisions and strengthening the leading market position.
After extensive research and trying out different price monitoring tools, Çiçek Sepeti has recognized Price2Spy as a solution that offers everything that they’ve been looking for.
Key challenges
Being a part of the Turkish market is a challenge in itself. It’s a very big market, and extremely competitive since the price sensitivity is very high.
That means that Çiçek Sepeti is faced with competitors who tend to change products and stock levels several times per day. Due to the number of products and market dynamics, process automation is crucial. A reaction to market changes that take too long to be responded to due to manual adaptation leads to a decrease in sales and market share. Therefore, their key challenges were the following:
- To find out the best price because of fast-paced competition;
- A very large number of products to be monitored across various competitor sites/marketplaces;
- Additionally, this process must be as automated as possible due to a large number of products;
- The constant need for matching new products since they’re appearing frequently;
- When being a part of such a competitive market, the client can not only be focused on the price – there is a need to monitor additional product details such as seller names, shipping details, etc.
- To stay ahead of the competition, repricing is a necessary feature – the client needs to keep track of price drops and price increases daily and be ready to adapt their prices accordingly;
- As the client wants to increase their product range data extraction is also needed, as well as data analysis for the understanding of market trends.
Çiçek Sepeti Pricing Manager, and the other team members as well, were faced with all these obstacles while trying to maintain their leading market position. Since there was the need to tackle different pain points at the same time, help from a price monitoring tool such as Price2Spy was much needed.
As you can see, a very challenging situation, but Price2Spy doesn’t shy away from the challenge.
Price2Spy’s given solutions
Due to our rich experience in the eCommerce market, we can recognize and understand our clients’ needs almost right away. But, when it comes to a big name such as Çiçek Sepeti, we have to put an extra effort to provide them with the best possible solutions.
Before performing price monitoring, it was necessary to do a setup, i.e. product matching – this was one of the most difficult tasks that gave headaches to many other tools, but Price2Spy offered an optimal solution – a combination of manual and automated work.
- When we have such a big client we need to start with creating a Premium account – automated price checks set to occur every 3 hrs (8 times a day max);
- Since there are many products to be monitored and not all of them can be monitored in the same way, we usually go for Hybrid Automatch (semi-automated product matching) on competitor websites. This client has a large number of categories which means inconsistencies in the product information – some products have unique identifiers, others do not. Therefore, Hybrid Automatch is the perfect solution – an automated product matching process that relies on human intervention to ensure accurate matches despite the diversified product range, and thus the validity of match-based decisions;
- Our team makes sure to perform the replacement of new products;
- Reliance on automated price checks, reports, and widgets to identify product patterns across different competitor websites, thus establish market trends;
- Enabling Price2Spy to capture additional data displayed on product pages: shipping details and seller names;
- Repricing Module used to suggest products with potential clever drops / clever raises;
- Link My Store option – Custom Price2Spy continually imports feed linked to mirror products from their online store into the Price2Spy account;
- Link My Store combined with Hybrid Automatch means that the whole price monitoring process is fully integrated;
- Competitor product data extraction (aka site crawl) is enabled on one website – which our client considers as the most important competitor – so Çiçek Sepeti has full insight into the full product assortment of this particular competitor – which helps identify gaps in its own product assortment.
In addition to the initial setup, a continuous product matching service (Automatch) is provided as well. That means finding new matches every day and thus monitoring changes in the range of monitored sites.
“After investing quite some time in finding the right price monitoring tool, we’re happy that we started our collaboration with Price2Spy. After a few consultations, they prepared the full plan of action taking in mind all our needs. We are now receiving pricing information on a regular basis, which makes it easier to produce quick solutions and swiftly react to market changes.” Deniz Balkas Baran / Pricing Manager of Çiçek Sepeti
One of the reasons why Price2Spy was the best fit for this client lies in the successful process automation and minimal client engagement in the onboarding process. Price2Spy provided monitoring of the competition with the possibility of semi-automated price change (dynamic pricing). Also, since the client had several goals (so in addition to monitoring the competition, extraction of product data from a competing site was required), Çiçek Sepeti opted for the full scope of the puzzle we offer (Product matching, Price Monitoring, Price Analytics, Product Data extraction).
Our solution will allow them to save valuable time and rely on automation that did require a laborious setup, but the benefits far outweigh the effort.
This time Price2Spy was faced with a true challenge, and once more we found a way out! We’re richer with another valuable experience and most importantly, with another happy client!
Do you also struggle to keep track of your competition? Don’t waste any more time and start your 30 days free trial period with Price2Spy.
