Industries : Health & Beauty

Does beauty always come with a price tag?

The world we're living in has put a price tag on everything we see, including the most important and the most poetic things in life: health and beauty. Our biggest clients from Health & beauty sector are international brands, using Price2Spy to achieve detailed market insight (and sometimes market control) into international markets. More and more online shoppers tend to shop internationally - in search for a better price. This leads to further market fragmentation, as more and more young online stores emerge, offering lower and lower prices.

Unfortunately, as with other similar industries, no EAN / standardized part numbers are available (even when they are, retail sites do not use this data, as it's of no importance to the end client), making manual product matching practically the only viable solution. Some of our clients do the matching themselves, while others rely on Price2Spy team to do it instead.

One of the specifics of this industry is different packaging options - a product is typically offered in several different packages / volumes, all on a single product page. Not all price monitoring tools are able to handle such situations - and Price2Spy, fortunately, is. (this is what we call 'parametrized URL')

As for your daily pricing operations - Price2Spy reports and dashboard will make your life easier by enabling you to quickly check various aspects of your competitive landscape by many different segments (e.g. brands,  product categories). Easily drill down to the product details at any time - price history chart will show the development of prices over time, so you will easily recognize important patterns in your competitors' pricing behavior (for example: who's setting price trends / who's following).

Best price monitoring practices in health & beauty industry

Here is how Price2Spy can help product managers from this industry

  • The number of competitor sites monitored is usually between 15 and 30. In case of manufacturers / brands, this can grow much much higher (some of our clients monitor over 300 smaller and larger retail sites worldwide);
  • Monitoring marketplaces like Amazon is typically a must (usually for the cheapest price offered). In some cases several different sellers on Amazon are monitored individually - in order to ensure full pricing analytics on these channels as well;
  • In recent days more and more of our clients monitor GoogleShopping as a kind of shortcut to monitoring a multitude of individual sites
  • Number of individual products (SKUs) varies: from 300 to 20 000 depending on the client size.
  • Price change alert emails are the most commonly used way of monitoring the price changes (in certain cases combined with Automated Price matrix report);
  • Use Pricing Strategy module to identify products with price increase / drop opportunities - it will result in a clear and interactive list of products and suggested pricing changes;
  • Furthermore, most recent price changes (per brand or category) can be spotted via Pricing Dashboard;
  • The same goes for the share of cheapest products per site;
  • The most important feature used by brands / manufacturers is our MAP module - which helps them automatically detect retail sites who are in violation of minimal advertised price.