One of the specifics of this highly demanding industry is the ability to monitor not only the pricing, but product assortment as well (not all stores offer a full range of products from certain brands – so establishing who’s offering what can be a real challenge).
Technically speaking, the fashion industry is characterized by product variation (a shoe can have several sizes, and several colours – all having different pricing / availability). Very few online price monitoring tools can monitor such individual variations the way Price2Spy does.
As you can imagine, the fashion industry has no firmly standardized part numbers, meaning that manual product matching has very few alternatives. Some of our clients do it themselves, while others hire the Price2Spy team for such tasks. One exception to this rule are online stores dealing with watches that do have standardized part numbers, enabling highly reliable Automatch to take place.
Price2Spy will enable our clients to easily dive into various aspects of a competitive landscape by many different segments (e.g. brands, categories, suppliers). 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).
On the other hand, partner agencies usually connect to Price2Spy using our API, meaning that they show product data and reports in their own tools, which are in turn used by their end-clients.
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.