Industries : Pet Supplies

Price monitoring in Pet Supplies industry

Our client: ValleyVet
Our client: ValleyVet

Online retailers from this industry face a number of challenges, starting from more or less non-standardized product names (which affects the way an account is set up) to a variety of package sizes (especially when speaking about pet food).

So, given the lack of product name standardization and a lack of SKUs / Product codes whose presence generally qualifies an industry for a good Automatch candidate, it is obvious that  manual product matching is the only way an account can be set up and products matched.

Another specific thing about this industry is different packaging options for the same product, meaning that one particular product may come in different sizes / packages / volumes and all product variations / sizes may be displayed on a single product page. This is not only a challenge for product matching but for price monitoring as well - however, it is a challenge that we, here in Price2Spy, have successfully overcome and are currently monitoring thousands of such sites throughout the world.

Price2Spy is meant to enable clients from this industry to dive into various aspects of the competitive landscape by many different market segments such as brands,  categories, suppliers (sometimes even country). You will be able to 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

Brekz.nl - monitored by Price2Spy
Brekz.nl - monitored by Price2Spy

Here is how Price2Spy can help product managers from this industry

  • In case of global brands / manufacturers - the number of retail sites watched is usually between 50 and 200. In case of retail sites monitoring their competitors, this figure is usually much smaller (as we're speaking of niche markets) - between 10 and 25 sites
  • 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;
  • When monitoring sites across many different markets, our clients usually go for the 'common currency solution' - the original currency of the site is converted to the manufacturer's common currency, so the prices across different markets are easier to compare.
  • Number of individual products (SKUs) varies: from up to 1000 (for brands / manufacturers) all the way up to 20 000 for retail sites
  • Integration with client's eCommerce software, paired with Automatch approach enables full process automation - newly added products get auto-discovered on competitor sites, and Price2Spy starts monitoring them.
  • 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.
  • Price2Spy's ability to capture the prices from within shopping cart greatly helps detect MAP violation cases which are not so easy to spot (available in Price2Spy Premium user accounts)
  • Furthermore, monitoring prices on B2B sites (requiring username / password to access pricing details) is also something that many of our Premium users use on daily basis.
  • 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 the most commonly used way of monitoring the price changes (in certain cases combined with Automated Price matrix report);
  • 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;