Sports & Outdoors
Sports & Outdoors - Ever changing prices, ever-changing assortment
- Products in this market usually have a pretty short life cycle – it is quite common that a product gets replaced only after one season, with another, very similar product, but with a different model name, and of course, very different pricing
- Due to the nature of the industry, product matching is almost always performed manually most commonly twice per year (depending on the seasonal nature of the products offered)
- One of the challenges in price monitoring for such clients is the ability to distinguish pricing / availability for different variations of a single product (for example: color/size combinations) – which is one of Price2Spy’s key features
- Matching process can be demanding due to all mentioned reasons
BEST PRACTICES AND SOLUTIONS
Manual product matching
Since the number of individual products (SKUs) is usually somewhere between 1000 and 5000 (very few clients monitor their full product range). This makes manual product matching quite acceptable (both in terms of cost and time); However, many of products get discontinued, due to the short life span.
Because many of products from this industry are seasonal it is very important for our clients to be well informed of the seasonal price changes. This task becomes much easier with using Pricing dashboard.
With pricing strategies, you can easily identify products with price increase / drop opportunities – it will result in a clear and interactive list of products and suggested pricing changes which will hopefully result in turnover / profit increase.