In the past two years, Covid-19 has had a big hand in record e-commerce sales for the big fashion and luxury brands, since consumers were forced to carry out most of their purchases online. Fashion is now the biggest B2C market segment for e-commerce, and even if retail has regained market share, online sales are in continuous growth.
Both brands and resellers have huge challenges in front of them. E-commerce marketplaces are growing rapidly, and online market dynamics are changing so quickly that players can no longer rely on historic data or manual tracking to monitor the competition.
Both brands and e-commerce players need the most updated data possible regarding every aspect of the business, be it distribution of their own products or the monitoring of the competition’s pricing, stock and market share.
The monitoring begins with pricing, since it is the price that plays a critical role in every decision for an online purchase. Artificial intelligence is a fundamental tool that allows players to substitute intuition with evidence, helping us to understand the choices consumers are going to make.
This is why Competitoor’s Price and Market intelligence has become so important, offering e-commerce players and brands the possibility to collect and analyze huge amounts of data regarding price and the competition, thus giving them a competitive advantage. Competitoor is one of the world leaders in offering Price and Market intelligence, supplying this service to the major fashion, luxury and e-commerce players.
“Thanks to Competitoor’s platform, our clients are able to monitor competitors and distributors on a global level, giving them information on what products are being sold, where, at what price and with what kind of promotion. This allows our clients to identify potential areas of improvement, be it price or the assortment, growing both Brand Value and overall sales and margins,” stated Maurizio Catellani CEO of Competitoor.
In a market that is continuously evolving, price has become one of the main variables in the decision-making process for a consumer. Thanks to price comparison software and search engines, consumers can, in real time, identify the best site to purchase a product.
The Competitoor platform allows you to monitor, with the desired frequency, the positioning and the price strategies adopted on each product, brand and shop, supporting the definition of product and price strategy and thus helping to increase sales and overall margins.
The new Merchandising Plan recently released by Competitoor is a permanent observatory of the most important e-commerce sites for fashion and luxury items, giving brands precious information on stock, collections, pricing and promotion of every single product and brand that are present in the major e-commerce sites.
“We invested significantly in developing the Merchandising Plan, not only for the technology necessary to collect the data and offer historic views but also in the analytics that allow the client to analyze the data in the simplest and most flexible way possible. Considering the vast amount of data concerned, we think it is fundamental to develop features and views that allow our clients to aggregate data, obtaining strategic information in a simple and scalable way at an affordable price,” concluded Maurizio Catellani.
Competitoor is offering to both brands and e-commerce fashion players a 15-day free trial of the platform. To order your free trial, please fill out the form on this link.