Industries : Consumer electronics

Consumer Electronics - no price monitoring, no success!

Flanco: #1 in Romania; 5 years with us
Flanco - using Price2Spy services for nearly 5 years

High profile clients from consumer electronics online industry that we have acquired since 2011 are making us real proud. Some of them are large retail names (leaders in their markets), while others are brands (or regional brand distributors) who use Price2Spy to keep an eye on the turbulent online market.

One specific request we have encountered in this industry was the necessity to monitor not only the product price, the very strict availability conditions (for example: the product is considered available only if it can be shipped that very day), but cashback / promotional prices as well.

Most of the products from this industry have standardized part numbers, meaning that Automatch is possible in most cases (a Scandinavian distributor of several global brands is monitoring nearly 120 sites across 7 countries). However, it's not a must - some other clients, much smaller in size (monitoring no more than 1000 SKUs) are going for manual product matching instead. As always, Price2Spy gives you flexibility, so each client can find the solution which suits their needs the best.

Large stores typically have different product managers taking care of different segments of their offer. In some cases, the work is split by product category (mobile devices, cameras etc.), while in others it can be done by brand, or even by product supplier. No matter how your internal organisation works, Price2Spy's flexible setup can address it - so each product manager takes care (and gets alerted) only of the products from his domain.

For those looking for in-depth analytical data, Price2Spy will give you all you need to easily identify your competitors' pricing policies (which probably differ from one brand to another, from one product category to another), and react to important price change alerts (for example, when a competitor lowers the price below a certain threshold). In cases where MAP-observance is needed, Price2Spy will indicate the MAP-pricing violations.

Let's also mention the possibility of API integration, where clients have implemented Price2Spy API interface within their own software, so they promote / demote potential Automatches (or watch price changes) directly from their own system, with no need to login to Price2Spy at all. We also have clients which have fully automated their dynamic pricing solutions, so their software always gets fed with fresh pricing data from Price2Spy - enabling it to automatically adjust (usually lower) the price on their own website.

Best price monitoring practices

Cyberphoto.se - also monitored by Price2Spy
Cyberphoto: monitored by Price2Spy, for our Scandinavian clients

Here is how Price2Spy can help product managers from this industry:

  • The number of competitors / retail sites monitored is usually pretty large (starting from 10, all the way up to 120) - this heavily depends on the market fragmentation;
  • In some cases, monitoring price comparison sites (like vergelijk.nl in Holland, idealo.de in Germany or prisjakt.nu in Sweden) can be a shortcut for monitoring a multitude of other sites. However, such approach means that you're monitoring only the cheapest price on the market, and you lose the information on individual site pricing (meaning no price analytics per individual retailer);
  • The number of individual monitored products (SKUs) varies from 1000 (suitable for manual product matching) all the way up to 60 000 (matched by the Automatch process);
  • In case of a large number of products - API integration is usually a must (Typically, the client's software initiates the process by inserting new products into Price2Spy. Price2Spy then performs Automatch, and feeds fresh pricing data back to the client's software);
  • Price monitoring frequency is usually 2-8 times per day (Premium Price2Spy account offers up to 8 times per day). On the other hand, for clients who do not care about hourly pricing variations, once per day  is usually enough;
  • Price change alert emails are usually used only for key product categories (other products get covered by Automated Price matrix report - preferably showing only the products with price changes within last 24 hrs);
  • Use Pricing Strategy module to identify products with price change opportunities - it will result in a clear and interactive list of products and suggested pricing changes;
  • Most recent price changes, as well as stock movements (per brand or category) can be spotted via Pricing Dashboard; the same goes for the share of cheapest products per site. In most cases these reports are segmented by categories / brands / suppliers;
  • MAP (minimal advertised price) violation module is heavily used in order to spot competitors who are playing against the rules, and document such occurrences.