Top 7 Reasons to Use the Price Intelligence Software

The price intelligence software as an indispensable tool for retailers.

- 3 Minutes read

Why retailers need the price intelligence software

Information on competitors’ prices becomes crucial when checking product positioning and performance in the market. In this respect, the price intelligence software is an indispensable tool to keep abreast with prices and make the right pricing decisions that will allow you to stay ahead of competition.



01

Benchmarking performance against competition

A clear vision of your business performance against competition will provide you with smart data to improve your strategy. You will be able to track competitors’ complete product assortment, promotions and stock-outs. Besides, with netRivals’s price intelligence software you can monitor as many competitors as you wish.


02

Tracking ups and downs in the marketplace

References on minimum and maximum prices will give you valuable insights on your price elasticity and you will be able to spot new opportunities and threats in the market.


03

Improving your pricing strategy

Knowing when to change prices in order to become more competitive or obtain a higher profit makes a difference. You will be able to make more effective and profitable pricing decisions, as well as negotiating better conditions with your suppliers.


04

Attracting customers and building loyalty

Knowing when to change prices in order to become more competitive or obtain a higher profit makes a difference. You will be able to make more effective and profitable pricing decisions, as well as negotiating better conditions with your suppliers.


05

Optimizing your Google Shopping campaigns

netRivals price intelligence platform becomes a valuable asset when one of your main business goals consists in optimizing your Google Shopping campaigns. On a daily basis and in an automated way, netRivals sends to Google Shopping a customized feed based on products in which you are actually competitive concerning market state. Products which do not comply with these requirements will be automatically discarded by the tool.


06

Obtaining smart data through analytics

netRivals’s powerful price intelligence software is the optimal solution for companies that want to stay up to date about their competitors’ moves without having to do all that tracking and data collection manually and, thus, saving the team time and money. Price data of products gets updated and stored in netRivas’ Big Data to help you make more effective pricing decisions.


07

Increasing sales and market share

Higher competitiveness and value will attract more customers, something which will translate into more sales. Your competitors will lose competitiveness making you win greater market share. Smart pricing decisions will lead you to more profitable results.