Household and Furniture industry - smart ways to monitor the market
Household and furniture industry include both manufacturers and online retailers (number of individual products (SKUs) monitored by our manufacturer clients usually goes between 1000 and 5000, while for retailers it can reach 20 000 products)
Therefore, we have encountered both clients who do not work with standardized part numbers, and clients who do work with well-established brands and well-defined part numbers
As mentioned, with clients who do not work with standardized part numbers Manual product matching has no alternative, and for clients who do have defined part numbers, Automatch comes as a logical choice
Another challenge is monitoring numerous parameters such as color, quantity, etc.
Our Client: SelectShops.ca
BEST PRACTICES AND SOLUTIONS
Price Intelligence module is based on a number of reports (Price Matrix, Price Change Dynamics, Pricing Index) from which you can choose the ones that are most suitable to your company needs.
As important as it is to identify the price changes, it is equally important to be notified about it at the right time. Therefore, Price2Spy sends their clients alert mails as soon as the price change occurs (in certain cases combined with Automated Price matrix report).
Price history chart will show the time when the product got introduced, as well as 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)
Automatch is one of the efficient ways of product matching that Price2Spy has to offer. Depending on your needs, this process that goes continuously can be performed at specified intervals (daily, weekly, monthly).
Price2Spy’s ability to capture the prices from within shopping cart greatly helps detect MAP violation cases which are not so obvious to spot. By using MAP violation module, you will be able to find out who are the competitors trying to overpass these rules, and set your further strategy accordingly.