Price Intelligence Software for Retailers
Competera helps retailers to gather tons of important information about their key competitors, both in pricing and non-pricing. Get deeper understanding of competitors to fine-tune and perfect your pricing strategy.
Products, Gaps, Variables, and Competitive Insights on one platform
Competitive pricing intelligence is a method that fosters informed pricing driven by the current market trends and competitor price movements.
Are you sure that your competitive insights are up-to-date, accurate, and incorporate all the necessary factors about products, prices and more? Even with high-quality software, many aspects of competitor’s activity that could significantly impact your pricing strategy often go overlooked. That’s why we created Competera – a scalable and comprehensive pricing platform for retailers. As a competitive pricing software, it allows to compare everything from shipping information to product photos as well as deliver this data fast enough to effectively utilize it.
Now your company can see every vital competitive insight in a single interface designed to help you contextualize and utilize fresh, high-quality, complex data as simple as possible.
How price intelligent software works?
Pricing intelligence software is a practical tool used by retailers while implementing their competitive pricing strategy. It is essential for businesses to know how retail price intelligence works, because, otherwise, companies would not be able to reveal the full potential of the tools they use.
Put it simply, the work of competitive price intelligence software can be divided into several major phases. First, the parameters are set and adjusted. Then, the data collection is done by the software algorithms. After that, the collected database is checked. Once the data is ready and checked, it is processed by the algorithm to provide businesses with the ready-to-use functional insights and analytics. Eventually, the pricing intelligence is actually built on these insights and analytics.
However, when speaking of advanced competitors pricing intelligence, the capabilities of a tool might not be limited to a generation of data-based analytics and insights. Often, the top-notch competitive price intelligence tools, like Competera is capable of an automated integration of the analytical insights into the actual pricing policy of a business. For example, using a cascade of customizable pricing rules, a manager can set up automatic price adjustment based on the market trends or changes identified. Here is how it works: if a pricing rule implies that a price for a product A should be always 5% lower than the highest price by competitors 1, 2, and 3, the tool would automatically suggest the new price once the market intelligence is updated.
Depending on the configuration of price intelligence tools chosen by the business, the data collection, functions list, or analysis workflow might differ. Typical elements of a price intelligence system include the scrapping of competitive data, full crawls collection, product matches, quality control assurance and other elements and processes. The last-gen price intelligence solutions are flexible enough to provide business with an ability to customize the functionality and settings of data collection and analysis.
Success is a journey. Let's complete it together
Competera is an industry-agnostic solution suitable for online, offline, omnichannel, mono- or multi brand retailers. We help your team get optimal prices for each product across all selling channels by using a unique combination of pricing tools.
Cost-plus
Margin-centric
Ad hoc repricing
Human-driven decision
Market-driven
Competitor-centric pricing triggered by market changes
Regular repricing
Constant manual check
Data dependence
Rule-based
Based on rules and business constraints
Automated real-time repricing
Human-supervised
Market-share focused
Elasticity-based
Mix of rules & demand-based pricing
Goal-oriented repricing
Manager as a strategist
Portfolio coverage
Personalized
Shopper-centric pricing
Individual offers based on LTV
Balance between customer demand and business goal
Competera Pricing Platform
A unified workplace with an easy-to-use interface
Competitive Data
High-quality, timely product matches and data scraping covering any region, currency, or language in a single dashboard. Details
Pricing Automation
Coherent, fast and flexible pricing with defined workflows and a transparent cause & effect analysis of every price change. Details
Price Optimization
Elasticity-based price setting driven by demand patterns, products cross-impact and more than 20 pricing and non-pricing factors. Details
What You Get With Pricing Intelligence Software
See what you get with our price intelligence software
Take a deep dive into Competitive Data to have a 360 view of your competitors' pricing
Boost your competitiveness with price intelligence tools
Competitive pricing strategy requires businesses to keep pace with the market developments. A retailer should regularly reaffirm that their current price positioning is relevant to both their own strategy and market landscape.
Competera competitors pricing intelligence tool continuously analyzes important factors and their impact on key business metrics which include, for example, sales and revenue. Based on high-quality data inputs, the solution allows pricing stakeholders to track if their price index is coherent with the operational and strategic targets.
With Competera, you can get a set of customizable functions and widgets that visualize the correlation between particular price points and the key metrics. For example, you can see how a particular price increase impacts the total number of sales and revenue. Thus, a pricing manager can reveal either explicit or implicit relationship between the decisions made and the sales dynamics.
On top of that, with Competera’s Price Intelligence, retailers can identify the changes in competitors pricing policies right when they appear to be able to proactively adjust their own prices.
Why Сompetera For Price Intelligence?
In contrast to other market players, online pricing intelligence powered by Competera is able to collect millions of data points per day. The quantity, however, can hardly bring the expected results in case the database quality is insufficient. That’s why, at Competera, we guarantee our clients an 99% average match and delivery rate. The quality of data delivered by Competera is protected by SLA agreements.
Another important element making Competera’s Price Intelligence a choice worth making is the quality control. In particular, every data goes through both manual and automated quality assurance procedures before the information goes live. What it means is that the system would not be misled by irrelevant or mistaken data. After the data set is collected and verified it can be accessed via an easy-to-use user dashboard.
Data collection is an inevitable, yet not the only functionality element of retail price intelligence. What really transforms database into actionable insights are the tool’s analytical capabilities. In this regard, Competera provides plenty of functional settings for businesses. For example, using visualizations in Competera’s dashboard, a retailer can track online pricing intelligence, e.g. their price positioning against competitors or sustain the price index.
Software Trusted by Customers Across the Globe
Enhanced price intelligence for Sephora
Download a Case Study to see how Competera powered Sephora with accurate price intelligence data
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