Effective pricing strategy is wanted by every e-tailer.
Today e-commerce is affected by Internet penetration, price fields expansion and customers familiarity.
Pricing managers understand that highly competitive market demands such pricing strategy, which is able to make the store as profitable, as competitive.
That is why retailers should react on market changes and timely correct the pricing strategy of their online stores.
Competitive pricing strategy is the best solution in retail practice.
First of all this strategy is based on up-to-date competitive data, secondly, it allows pricing manager to make timely decisions and price corrections.
High competitive ability in a dynamic market is possible to achieve with the help of competitive pricing analysis, which collects data on competitors pricing behavior in a certain period.
The leaders of the market know everything about their main competitors and keep abreast of the market changes.
Successful retailers prefer to learn everything there is to know about competitor intelligence.
Online competitor intelligence
Regular competitor analysis is a key to build, implement and maintain effective pricing strategy.
Competitive pricing research requires a daily advanced analysis of a huge massive of competitor insights.
Competitive intelligence resources
Effective pricing managers use the modern competitive intelligence tools in order to have good possibilities to increase the profit and gross margin of the online store.
Usage of the most appropriate competitive analysis tools helps to get a full and clear picture of market conditions.
Competitor benchmarking is a great tool, which collects all the information on competitors price changes for all the time.
Competera helps to make the analysis of the competitors price changes and gives an access to the changelog within each separate product for the clients.
Providing competitive benchmarking Competera compares the product categories and highlights the products that need attention and recommends actions that need to be taken.
because of benefits suggestions which are price monitoring on SKU level, timely data delivery (if one needs data at 9 am - Competera delivers it at 9 am), notifications on competitors price changings and price history analytics.Learn more