*Time tracking for a single category repricing.
Data based on our client’s’ case
The Price Index is a metric that shows the normalized average of price relatives for a given class of goods in a given location, during a given interval of time.
Price Index visualises your products/categories/brands positioning against similar parameters of the competitors, or the market in general. It helps to check retrospectively whose actions, and how exactly they influenced your sales the most.
It’s pretty common to meet retailers who do not know which competitors really influence their performance and sales. Alternatively, ones who do not see an ability to set higher prices while keeping the same sales dynamic.
You can read more about Price Index here
Agile Pricing is a dynamic pricing strategy that adapts to every market change automatically, yet can easily be corrected by a manager.
To successfully use Agile Pricing, a retailer needs to apply to its software different pricing strategies, pricing models, and pricing algorithms.
With competitor pricing analysis, Price Index and Price algorithms smart dynamic pricing software, can make automatic repricing suggestions.
This brings a retailer the following:
This is the part no retailer thinks of at the beginning, yet it’s essential for price monitoring software. Every retailer has its own scenarios for assortment management (ABC, XYZ, KVI-analysis, etc...) and the right pricing software helps to get rid of spreadsheets and manual assortment management.
Price monitoring software focuses on supplying easy-to-use insights, gaining UI for the custom needs of each particular e-tailor.
No matter what you’re looking for, whether considering to hire Competera,
or choosing another supplier, don’t forget to ask
these six pivitol questions:
Can a potential supplier forecast the economic effect of using their oftware?
Is it possible to adjust the monitoring schedule to your business needs?
Do they provide an SLA for data quality?
Can you use your specific tags for managing the items segments (brand tags, ABC tags, etc.) inside the dashboard?
What options for integration with third party services do they have?
How exactly will it help your online store to optimize the workflow (Price Intelligence, Price Index, etc.)?
Is there an ability to synchronise the results with the shop’s virtual showcase?
Take a look at what companies
are saying about Competera retail pricing software: