Oostendorp Muziek – Netherlands
How Price2Spy helped Oostendorp Muziek to succeed in Instrument retailing
Choosing the right musical instrument can be a challenging process for parents, teachers, and professionals alike. Therefore, it’s crucial to have musically educated sales advisors in the decision-making process. Dutch company Oostendorp Muziek, which specializes in keyboard instruments, understood this need back in 1977.
Being present on the market for so many years also means witnessing various changes. One of the most significant is the appearance of new competitors and the increasing popularity of eCommerce.
Staying competitive in Instrument retailing is not easy, so let’s see how Price2Spy approached this situation.
Our client owns a webshop of musical instruments and two showrooms to support clients in their choice.
Although they’re specialized in keyboard instruments and thus have a very well-segmented audience, troubles with the competition did not bypass them. When a market is very competitive, businesses usually tend to fight for their place by offering lower prices. To stay in the game, one needs to be aware of those price changes, especially if it’s happening very often.
If price changes happen frequently, it becomes almost impossible to keep track of them manually.
An ideal situation for hiring a price monitoring tool such as Price2Spy.
Price2Spy’s given solutions
Oostendorp Muziek became a part of Price2Spy’s family in 2013. Their biggest issues revolved around competitors trying to stay competitive by offering lower prices. Price2Spy is often faced with similar problems, so we already knew what would be the best starting point for this client.
As always, we need to start with our core feature – price monitoring. Frequent price changes mean that there is a need for frequent price checks. Monitoring prices on a daily or weekly basis wouldn’t be enough.
As we often mention, collecting data without proper understanding is not enough. That’s why our reports are so beneficial. One of the reports that are particularly useful in this client’s case is the Price Matrix report. The Price Matrix report is one of our most commonly used reports, thus, we’re constantly improving it.
What is the purpose of this report? Well, the Price Matrix report enables clients to visually identify products for which their pricing is most/least expensive. This report shows all the monitoring sites (X-axis) and all the products (Y-axis). For each product, 2 cells will be colored:
- Green is the lowest price;
- Red is the most expensive price.
“Price2Spy helps us to make a quick overview of the market conditions and to respond to them in a timely manner.” – Lars Jansen, Oostendorp Muziek
The famous saying less is more turned out to be true in the case of this client. To achieve adequate results, it’s not always necessary to spend huge amounts of money on an infinite number of features. If you have the help of the right price monitoring tool, your needs and goals will be clearly recognized.
Do you also struggle with staying on top of the market? Don’t waste any more time and start your 30 days free trial period with Price2Spy.