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Competitor price tracking & Competitor price monitoring

Competitor price tracking & Competitor price monitoring

Imagine, you are a webshop, or B2B service provider in the Online Retail market segment. In order to enable yourself to generate a healthy margin, you need to have insight in the pricing levels of the competition. What prices are other vendors offering in the market and do you need to addapt or adjust your pricing strategy to it? In order to make the right decisions we can provide you with Competitor price tracking & Competitor price monitoring data.

Competitor price tracking & Competitor price monitoring

First of all we want to make clear that Dataedis is not suggesting that you constantly need to lower your price level in order to compete with other shops. We do suggest to keep track of the pricing levels in the market so you are able to adjust where needed. This can be done by lowering your product prices if possible, but also to increase the price level if possible. Only this way you can still attract a significant amount of potential customers and still make a healthy margin. 

Dataedis is working together with a set of partners that are specialiced in this specific area of knowledge. We can bring you into contact with them. Also we can offer the right data for making the right decisions related to pricing strategies and competitive pricing or competitor price monitoring. 

So stay ahead of your competitors by using the best data in the market and for the channels you need. Dataedis is offering pricing intelligence data for competitor price tracking for Google Shopping and Amazon and many other market places or Retail ecosystems. 

READ MORE – GOOGLE SHOPPIN PRICING DATAREAD MORE – AMAZON PRICING DATA

Reference case Online Fashion & Shoes retailer

Dataedis is serving many clients, directly (webshops) or indirectly (via B2B service providers, for example in Dynamic Pricing or Online Marketing). We would like to take you along the journey of one of our clients. These are some examples of clients we helped with the challenges concerning Competitor price tracking and competitor price monitoring:

Competitive-pricing-strategy

Assortment and pricing optimization

The client has two questions we help them with:

1. Who is selling the same items that are also in my assortment?

2. What is the pricing level for this set of products? 

For the first question we offer a frequent market scan where we show all shops that are selling exactly the same items as they do. By offering us with a list of EAN/GTIN13 for the items in a product feed, we are able to retrieve targeted information on who is selling the same items. This is done for 300.000 items in several countries.

The client now filters the products where we did find shops that sell the same items and asked us to provide a daily update for the prices in the market. So based on their input feed we provide them with pricing data for Google Shopping on a daily basis. This is done with a selection of up to 150.000 items for many countries around the globe. The client has their own tooling to import the data and process this in their dashboard. They interpret the data themselves and perform price optimization themselves accordingly if needed.

Do you want to excel es well in Online Marketing in Online Retail? Contact us for a free trial for 14 days.

Price optimization reference case

One of our clients was importing a wide set of items on a daily basis from another provider of pricing data. The number of items they received prices for was not the best. The coverage (percentage items results were provided for in relation to the total list of products) was significantly lower at that time. Then the client contacted Dataedis and was surprised by the improvement of the coverage. 

Price optimization with increased coverage

The client is offering a dynamic set of items of around 40.000 items in the category of Natural and healthy food. Especially in this era of focus on staying healthy, the market grew drastically, but also the number of competitors grew significantly.

In order to grow and maintain the position in the market, dynamic pricing is crucial for this client. By monitoring the competitors complete insight are retrieved and action can be taken upon the data. The client has developed their own Price intelligence system and procedures to import the data. 

Do you want to excel es well in Online Marketing in Online Retail? Contact us for a free trial for 14 days.

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