Progressively intensive competition obliges category and pricing managers to optimize pricing process to improve market visibility and control their own positioning towards the main competitors affecting the price perception of an online store.
As a competitive edge shifts more from one market player to another, e-commerce retailers have provided hiring a price management software to build an efficient pricing strategy.
Until recently, most category managers still feel reliant on their own experience or sense working with a price assessment, but there is a more effective modern approach to e-commerce pricing issue.
Retail pricing software is a tool qualified for price management improvement in performance- oriented online stores.
Success and goals-driven e-commerce retail that has achieved an effect of software pricing strategies continues using pricing software products. The reason is the automatization of pricing process, whereby category and pricing managers save the time on manual repricing of a large number of product assortment.
Product pricing software assume an everyday question for pricing managers “What price should I set for this product today?”.
A wrong answer to this question leads to an unmeasured loss of money, which impacts a business profitability in general. Estimating software costs e-commerce retail either tend to prefer planned expenditures than be committed to report on an error in calculations.
Software cost estimation always allows a manager to lay out all expenditures for efficient pricing strategy and manage software costs as often as it is necessary.
Different software pricing models are designed according to online store requirements regarding a number of products, categories for monitoring, individual timescales, and other demands.Competera dynamic pricing benefits
Providing a competitor price monitoring and making a product price analysis with an online retail pricing software category or pricing manager allows for the establishment of a pricing strategy based on optimal product price to enhance customer loyalty and increase revenue.
Price optimization software estimates the pricing conditions of your online store towards your main competitors and proposes new market opportunities for business development.
Pricing strategy software bases the recommendations on reliable data delivered from pricing analytics of competitor price, promotions, and stock availability.
Considering that competitive pricing analysis is a complicated and time-consuming task for pricing managers, e-commerce retail can build a pricing strategy reliant on price management software products to drive sales and boost margin.
Competera is a pricing optimization software, which collects, saves and analyzes data on competitors price, stock availability, and promotions enabling pricing managers to automate a product repricing process in e-commerce retail in order to increase the gross margin and profit through proven and reliable data.
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