Discover how your online shop can dominate price comparison services by capturing real-time market dynamics
More Orders. Zero Manual Effort.
Background
This case study illustrates the operations of one of our e-commerce customers. Despite existing automation, they struggled to keep up with market fluctuations.
Their routine looked like this:
To maintain the company's competitive strategy, the analyst had to manually and selectively monitor key items on the marketplace, then calculate their final best price using Excel spreadsheets. Almost all the time was spent on repetitive mechanical actions and endless self-checks. This was a long and labor-intensive process, involving collecting data from competitors' sites, positioning, working with suppliers' price lists, and calculating the economics. If the result did not meet the business requirements, they would return to positioning and recalculate. Prices would then be set and uploaded to the website. This cycle would repeat.
Due to the labor-intensive nature of the calculations, there was a lack of resources for regular and complete competitive analysis. Prices were often set as low as possible and rarely changed. This led to under-recovered profits and a fear of human error.
Manual monitoring and Excel calculations consumed valuable time, leading to under-recovered profits and the fear of human error.
Project Objective
We wanted to empower our customer to consistently offer the most competitive prices on major comparison platforms like Idealo - for his desired items.
Automate the process seamlessly, swiftly, and reliably.
Perform comparisons and adjust prices in real-time.
Free up resources for strategic initiatives while maintaining a strong online presence.
Automation Process
Automating the process can be broken down into four key flows:
- Integration: We connect the e-commerce platform through API to streamline data exchange.
- Product pricing strategy definition:
a. Customer chooses the products he wants to analyze and reprice.
b. Customer identifies and selects competitors that he wants to monitor closely.
c. Customer defines the pricing strategy based on the business objectives, target market, and competitive positioning.
- Competitor Pricing Retrieval: We automatically retrieve pricing data from customer-selected competitors for the chosen products.
- Price Update: Based on the predefined logic and real-time competitor data, we set up automatic updates for the store with new prices, ensuring alignment with the pricing strategy and market dynamics.
Conclusion
In a fiercely competitive market, our customer optimized his repricing strategy, becoming the top choice on comparison platforms. The system's ROI was evident within months, with fully automated processes eliminating human errors. Our solution ensures a seamless repricing experience, offering real-time transparency and efficiency.
Discover What Our Customers Are Saying:
With its real-time market insights and automatic repricing capabilities, we've been able to stay ahead of the competition and maintain our competitive edge. We no longer have to worry about manual price adjustments or missing out on market trends.
It's truly transformed the way we do business.
Ready to Transform Your E-commerce Operations?
Schedule a consultation with us and unlock your business's full potential.
