The problem
- E-commerce companies struggle with keeping up with the competitors and monitoring the pricing of their products and the one of their competitors.
- Amazon and the largest retailers use very sophisticated adaptative pricers that are built to provide the best price for their customers, leaving huge gaps sometimes with niche ecommerce websites.
- Sudden price fall or hikes are potential losses of revenues or missed opportunities for e-commerce operators.
- It is of utmost importance to forecast demand based on macro-economic trends in order to prepare for the good execution of production and anticipate spikes of demand or downfall of consumption.
The remedy
- For one of our partners, we have developed a pricing monitoring tool that web crawls 5 of their specific competitors.
- We send an alert email whenever the prices for certain SKUs fall below or go upper than a predefined threshold, so that the Sales team can adapt their pricing strategy based on the
- Based on our experience, weekly data is the best frequency in order to generate useful actions’ lists for the Key Account Manangers.
