For some e-commerce professionals, the imperative is to always match competitors’ prices. Matching competitors’ prices is the ultimate goal of our Dutch long-term client. This client is coming from the music industry and it is loyal to Price2Spy since 2016.
The client has a Shopify store with over 3000 products, while key 500 products are monitored via Price2Spy. Our tool monitors the product prices of 12 main competitors in the Netherlands and Belgium chosen by the client.
Considering our client’s desires and the business goal, we suggested an ideal pricing strategy following the market condition and offered the Repricing module.
On average, Price2Spy suggests 20 to 25 price changes daily. In the case of this client, the Repricing rules are split per product category.
Most of the categories aim to match and maintain the prices of the cheapest competitor. In this case, the Repricing rule is fully automated and performed via a Link My Store to the client’s Shopify store. Direct Repricing is applicable once the client’s store is integrated with their Price2Spy account.
A separate approach has been implemented for products monitored on bol.com, which is a popular Netherlands marketplace. Regarding bol.com, the client requires a non-automated repricing rule.
Here is how non-automated repricing works – Price2Spy calculates and suggests ideal adjustments twice a day. Suggestions concerning Bol.com are checked manually, once per day, before the final repricing is done.
For the client’s general information, take a look at the table on the right.
If you are looking to set up a new pricing strategy or revise your current one, feel free to reach out to firstname.lastname@example.org for help.
Also, if you are willing to implement the Repricing Module in your business, subscribe for a 30-day free trial and see if our tool is what you need.
|Number of products||3000|