With just one click, you can have
+20% Sales
+8% Margins
Time and cost savings
98.5% data accuracy
Price Optimization
Boost your business margins by adjusting your prices to match your real competition.
Increasing prices whenever you can highly affects your company’s financial results.
Setting the right price is critical because it’s the fastest and most effective way to increase your profits. The right price can boost profits, faster than a volume increase can, whereas an inadequate price can bring them down just as drastically. Moderate price increases translate into a boost in operating income. A price adjustment of +3% can increase operating income by as much as 25%. But the opposite is also true: there’s nothing like a price decrease of just a few percentage points to see the operating income of a business come tumbling down. Online prices are constantly changing so there’s a huge risk of missing out on profits in the short term. That’s why Competitoor lets you know what’s happening online on a daily basis, so you can keep your margins as high as they can be.
Product matching
Import your list of products (all or part) into Competitoor and it will compare their prices against your online market competitors’ prices on a daily basis.
This function spots the exact product you want to compare from the online catalog of a competitor’s e-commerce website, and it doesn’t need EAN or other codes to do it. For the recognition, the system uses semantic analysis of the product information: title, description, image, category, sizes, colors, and other specific fields relevant to the product’s reference market.
In many markets, it’s common to find different products to choose from that have very similar features, making them comparable and interchangeable. For example, a black double-handle leather bag, a shower stall or a 3-seater leather sofa remains substantially the same regardless of what brand it is or which company made it. Using semantic and image recognition, Competitoor identifies and compares “similar” products with a comparable price positioning in order to map out the total value of the online product offering.
Price Monitoring
Knowing how the prices of your online market are changing helps you build a solid sales strategy and maintain the right position in the market.
A price war is generated when you constantly undercut the competition to beat them. Most product discounts are not the result of a strategy. They stem from fear of becoming less competitive or an inability to correctly read the market data and interpret what the competition is doing.
The online market is very fluid and it’s changing constantly, which is why doing manual random checks or market research every now and then can lead to bad choices. Monitoring your market frequently and thoroughly is the only way to go to avoid falling into the price war trap and be sure you’re getting your products to customers at the right price. Competitoor does the work for you by analyzing each of your products and keeping tabs on the prices of whoever is selling them on any website or marketplace in any country in the world.
Dynamic Pricing
In every market, price is one of the 3 factors affecting consumer choice. Even the most loyal customer will shop around in search for online bargains and discounts. That’s why it is crucial to have a competitive pricing strategy and that your prices are aligned with your market. The dynamic pricing function suggests the daily “right price” according to the data gathered from the competition and shared across your eCommerce\ERP.
Price Comparison
Comparison shopping engines (CSEs) are quick tools to gain visibility by leveraging discounts and giving up margins. Since low price is one of the main factors influencing choice, these web services attract many visitors but also many bait-and-switch, below-cost and promotional offers. It’s risky for online retailers to compare their offers against these price comparison websites. However, it’s also crucial for brands and manufacturers to ensure the reputation of their products is not tarnished on these channels. This function maps your products within the main CSEs and helps you find the right balance between visits and the margin you want.
Bid Optimization
Promoting a product online at an incorrect price can backfire on you in two ways: you’ll lose the sale as well as create interest in the product and drive customers to the competition. In fact, no product has no competition and even products granted on an exclusive basis have to grapple with solutions that are equal or very similar in performance. The dynamic bidding function automatically and daily adjusts the feeds you send out to advertising channels, filtering out the products that would negatively affect you competition-wise.
Promotion and Stock Level Monitoring
Monitoring promotions and stock levels helps you gather crucial information to attract new consumers and have a clear day-to-day picture of the products available in stock in the monitored e-commerce sites. Monitoring will enable you to identify what promotion strategies e-commerce sites and brands are implementing and maximize your sales according to stock levels.
Geopricing
Brands and e-commerce sites with operations in multiple countries need to know the markdowns adopted in the single countries. With the Geopricing or GPS function, you can measure the average price difference percentage for common items in a specific country.
