10 May 2023

How Competitoor helped a global hardgoods retailer define the brand value and exceed customer expectations

The Challenge:

Keeping up with Consumer Expectations

This hardgoods retailer looked for a solution to monitor the market and understand how various wholesalers position and price similar products worldwide. To keep up with customer expectations, the client required a solution that could provide strong price visibility, an immediate perception of the offer and great clarity in the description of the product.

The Solution:

Price and Market Intelligence Solutions from Competitoor

The client turned to Competitoor, the leader in price and market intelligence solutions, to monitor both identical and similar products in the building materials industry. Competitoor’s ability to collect, monitor, and analyze price and competitor data around the world made it possible for the company to transform data into information and actions, creating measurable competitive advantages.

The Results:

Reduction of Costs and Increase in Informed Decisions

Competitoor gives the customer a significant competitive advantage. Key benefits include:

 

  • Reduction of costs for data collection and transformation
 
  • Higher data quality (98.5%)
 
  • Ability to monitor competitors and distributors and make informed decisions about price positioning

 

  • Increase in margin and revenue
 

Competitoor Provides Price Intelligence in Turbulent Times

The impact of a global pandemic, rampant inflation and continuing supply chain disruptions have tested brands in unprecedented ways, and many challenges remain ahead. Understanding your competitors’ pricing and production strategies, and how your assortments perform across every channel, is essential for
success.

That’s why more than 100 retailers and brands worldwide depend on Competitoor daily to enable AI-driven, intelligent pricing and assortment decisions. Our AI algorithms, semantic and image identification technology, combined with machine learning and deep learning, transform data into information and actions, giving you the information you need to compete and win. 

Want more info? Book a demo of the platform here.

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