Industries : Electric equipment

Can we monitor 100 000s of different SKUs? Of course we can!

We can monitor Google Shopping as well
Many of our clients monitor competitor pricing on Google Shopping

Huge numbers of different SKUs is what characterizes our clients from this industry - usually it's 50K SKUs and more (in some cases even 500K different SKUs). This industry has standardized part numbers, meaning that Automatch is usually possible. However, some manufacturers have real short part numbers (for example: 8145) which can lead to potential mismatches. In such cases we usually go for additional Automatch validation - making sure that the brand name is a match as well. On the other hand, this approach is not fully error-free, since (believe it or not!) brand names are not fully standardized (for example: some site will say GE, while other will name it General Electrics).

In quite a few cases we have coupled standard Price2Spy price monitoring service with crawling / scraping competitor website product content in order to provide our clients with a source of structured product data - typically containing product name, description, image, and individual product attributes.

One of the specifics of price monitoring we have encountered working with clients in electrical industry is the 'quantity factor'. Say for example that sites A and B sell the same product - but site A sells it in 'eaches' (a piece), while site B sells only boxes of 20 products. In such cases our clients ask us to perform additional price calculation, making sure that the price shown on site B gets divided by 20 - so they get a more realistic price comparison between sites.

Price2Spy will enable you to identify your competitors' pricing policies (which probably differ from one brand to another, from one product category to another), and to swiftly react to important price change alerts (for example, when a competitor lowers the price below a certain threshold). In case MAP-enforcement is needed, Price2Spy will indicate the MAP-pricing violations.

Best price monitoring practices

Our clients: Oregon Scientific
Our clients: Oregon Scientific

Here is how Price2Spy can help product managers from this industry

  • The number of competitors is typically limited to 5-10 most important market players;
  • Marketplaces like Amazon / Ebay are monitored as well, usually for the lowest price offered for the given product;
  • Number of individual products (SKUs) monitored is usually well over 50 000 (we do have a client with more than 500 000 different SKUs) - matched by Automatch process;
  • Most clients go for full API integration (Typically, client's software initiates the process by inserting new products into Price2Spy. Price2Spy then performs Automatching, and feeds fresh pricing data back to the client's software);
  • Since price changes in this industry usually do not happen on daily basis, price monitoring frequency is typically done weekly;
  • Price change alert emails are used, but 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 used as a reliable tool when it comes to spotting competitors who are playing against the rules, and for documenting such occurrences.