Always offer the right price at the right time
The world of eCommerce changes frenetically. In just 24 hours, Amazon changes its prices up to ten times, while other competitors may do so at least once.
In an environment where the customer expects instant solutions and has lots of offers to choose from, failing to offer price changes can drive you out of the market. All your marketing, content and advertising investment may be wasted if your prices are out of kilter.
Increase sales and maintain your profit margin
By automating a set of pricing rules, you can ensure that you always find the right price to boost your sales without damaging profits. You can set the minimum expected margin per product. The system guarantees it will never offer the product for a price that jeopardizes this margin. You decide how much you are prepared to discount products to ensure you remain competitive.
Another benefit of applying a quality repricing strategy is that stock with a low turnover starts to sell when it reaches a price that piques consumers’ interest.
Define a repricing strategy underpinned by bespoke business rules
You want to ensure you always offer an attractive price. Therefore, you must define rules to govern repricing, decide which products will be included, and under what circumstances. For example, match the lowest price if its positioning differs by more than 5%, and competitors have available stock. Constant price analysis for all your competitors’ products, and your own, is necessary to achieve this. Manual calculations using all your chosen variables will also be essential. The best way to avoid errors is to use a repricing tool.
Our repricing software makes the process easier by monitoring competitors daily. It is also possible to define the rules you need within our platform to make price changes agilely and easily. As a result, each product’s price will be calculated automatically by a fault-proof system.
