eCommerce requires quality competitor pricing data. Without precise information, making the right decisions on repricing will prove difficult, which will increase markup and profits.
Businesses receive up-to-the-minute quality data about the pricing of their online retail competitors and stay ahead of the market.
According to UPS research, 68% of mobile device users were looking for a retail coupon, which proves the importance of effective promotional management.
Without monitoring competitor promotions with retail pricing tool, businesses will never be able to understand why their virtual shelves do not attract shoppers.
Sophisticated pricing software makes prices feasible for customers. To improve competitive pricing intelligence retailers need not only to pursue competitive pricing research to use competitive prices but also to consider other factors, including consumers’ demand.
The software helps to optimize inventory prices by brands, categories, SKUs, stores or different analysis models, and apply full-stack assortment analysis.
A profitable and competitive pricing strategy is a crucial point in making online retail businesses outstanding.
A good retail pricing software helps to set and adjust retail models and tactics to become a winning repricer. It is essential to analyze competitive pricing strategies on the fly to alter them while meeting all KPIs.
Competera keeps managers updated with the latest competitor changes. With only 10-15 minutes a day, retailers determine store advantages and position it on the market at no additional cost.
With Competera, the Category Manager has saved 20 hours per month.
Competera shows pricing and category managers, analysts and marketers all prices that are too low or too high against the market.
It suggests how to increase prices without reducing sales and helps to boost sales and turn a price-sensitive audience into loyal customers.
Competera’s comprehensive, customizable and easy-to-read reports provide retailers with up-to-date convenient and reliable data.
With Competera, retailers monitor the market dynamics and build their pricing strategy based on quality competitive data.
Competera clients are the first to discover new marketing ideas created and tested by other market players.
As a result, they create a more attractive offer for their customers and launch it at the right time, e.g., when their competitor runs out-of-stock.