Industries : Mass retailers

Mass retailers - price monitoring 'en masse'

50 000 and more products - this is nothing unusual for mass retailers working with Price2Spy. With so many products on offer - such sites typically focus on many different product ranges - which makes the task of identifying relevant competitor sites even more difficult. Just to give a couple of examples

  • One of leading Mexican retailers monitors more than 200 competitor sites (not all sites get monitored on all product categories). Although this ensures almost perfect market coverage, keeping a close eye on such a wide landscape can be really difficult
  • Turkish eCommerce leader monitors between 30-40 competitor sites, introducing new sites on monthly basis
  • A mass retailer from Benelux (focusing mostly (but not exclusively) on technical goods) monitors 60 sites in Holland, and 20 sites in Belgium
  • One of Serbia's largest retail sites monitors roughly 75 competitor sites

Due to the diverse nature of the products offered, it's pretty rare that EAN / MPN part numbers can be consistently used for product matching. On the other hand, due to the short product life-cycle, and the large number of products to be matched - most of our clients do product matching themselves (as they usually have in-house teams for such tasks). Such teams either enter product URLs in Price2Spy directly, or they supply us with Excel sheets containing matched URLs, which we load into their Price2Spy account.

Mass retail clients typically have different product managers taking care of different segments of their offer. In some cases, the work is split by product category (baby equipment, car parts, consumer electronics 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.

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). Drilling down to the product details can be done 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). Finally, many of our clients rely on price change alert emails as indication of important market movements.

Best practices for price monitoring

Here is how Price2Spy can help product managers from this industry

  • As stated earlier, the number of sites monitored can vary from 30 till 300
  • Monitoring marketplaces like Amazon is usually not performed - the product range is so wide, that monitoring marketplaces makes little sense
  • Number of individual products (SKUs) is usually 20 000 and more
  • The way product managers work with Price2Spy is usually influenced by the client’s internal organization. Products (and their corresponding price change alerts / reports) are either divided by product category or by brand.
  • 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;
  • Price change alert emails are not considered that efficient (knowing the number of products involved in price monitoring). Instead, our clients are relying more and more on the Pricing Dashboard, where they define their own reports showing recent price / stock changes.