Transforming Data on Competitors’ Prices into a Competitive Edge for Online Stores
Today's e-commerce retail is evidently shifting because of customers’ awareness growth.
Pricing managers and category managers understand that a highly competitive market requires an effective pricing strategy, which can make the store profitable while still competitive.
This is why an online retailer should react to market changes and quickly respond to competitors actions with price adjustments on products, and product categories according to its pricing strategy and business goals.
Competitive pricing strategy should be based on up-to-date competitive data. Therefore, it helps the pricing manager create profitable pricing strategy.
Automatic competitive pricing analysis is one of the most efficient tools, which helps build a comprehensive pricing strategy for the performance-driven online store.
The solution for e-commerce retail relies on the actual data of competitors' prices and allows the pricing manager to do pricing analytics and make assured pricing decisions.
High performance is possible to achieve in a dynamic market with the help of competitive pricing analysis, which collects data on competitors pricing behavior for a given period.
The market leaders prefer to know everything about their main competitors and keep abreast of any market changes by employing a competitor intelligence of competitor price.
Regular competitor analysis is a great option for building, implementing, and maintaining an effective pricing strategy for any online store.
Performance-driven pricing and category managers use competitive intelligence as a pricing tool to capture competitor insights.Competera dynamic pricing benefits
Effective pricing managers use the most modern competitive intelligence tools to increase profits and gross margins of the online stores.
Usage of the most appropriate competitive analysis tools helps to gain a complete and definitive view of the market.
Competitor benchmarking is a great tool, which collects all the information on competitors’ price changes for all time.
Competera helps to make an analysis of competitors' price changes and gives access to a changelog within each separate item.
Providing competitive benchmarking, Competera compares the product categories, and highlights the products that need attention, and recommends specific actions for category/pricing managers.
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