It might seem strange at the first glance, but not everyone is aiming to be the cheapest option on the market. A good example is one of our clients – an online store from the US selling collectible cards.
This client has a BigCommerce store with 1400 products from which the most important ones are being monitored by Price2Spy. Our client is very aware of its competition, so they were able to point out the 7 most important competitors, and select 2 that have been identified as Big Dealers.
This time, the client has expressed the need to be the second cheapest competitor on the market. To be more precise, their strategy is to keep their price 0.5% higher than BigDealers. What is also important to note is the fact that the client wanted to apply the same pricing rule to all its brands/categories.
Price2Spy has a Repricing module that allows clients to define pricing strategies according to their needs. In this particular case, the client has configured its Repricing to be calculated 4 times per day. Moreover, they decided to turn on the Automated repricing. Automated repricing is a very appealing feature to many online merchants. It is attractive and popular among retailers because it seemingly makes the price change process fully automated.
When a client needs to monitor dozens of thousands of products, we usually propose Automated repricing. It’s a real-time saver, and even more important, it provides the much-needed accuracy that couldn’t be achieved by manually monitoring such a huge number of products.
Repricing is performed via Direct Repricing to the client’s BigCommerce store. Also, it’s worth mentioning that on average Price2Spy calculates:
Price2Spy is also known for its customizability. This time we enabled a client’s team of 4 pricing managers to log in to Price2Spy on a weekly basis to check analytics/trends.
You can find additional details about this client on the table listed on the right-hand side.
If you’re also struggling with finding the best repricing strategy for your business, we believe that Price2Spy can help you!
|Industry||Books & Media|
|Number of products||1400|