It’s a common misconception that Repricing (especially if automated) has to be a complicated process.
Our Dutch client, a tool retail company, shows that sometimes the less is more. They decided to keep things simple, but nonetheless, their pricing strategy has improved significantly.
The client has a Shopify store, with 25K products – 1500 most important ones’ prices monitored by Price2Spy. Even though this industry can be very competitive, our client has decided to focus on 4-8 competitors per product. Also, they made the decision that all Brands/Categories should follow the same repricing rules:
Price2Spy has a Repricing module that allows clients to define pricing strategies according to their needs. Our client decided to go for a non-automated repricing solution, however, it’s worth mentioning that each of our repricing suggestions was approved by the client.
The Repricing module has been configured in the following way:
Last, but not the least, it’s important to point out that on average, Price2Spy calculates:
|Number of products||1500|