MeQuedoUno is an online store born in Barcelona in 2009. At the beginning, it focused on flash sales, selling only a product per store at very low prices. Over the years, and because of the limitations for growth that this model poses, MeQuedoUno went to a mixed model through which they offer a wide permanent catalog (offers that last for over a month) while carrying on with flash offers (offers with discounts even greater, but which last for a shorter period of time, about 24 and 72 hours).
How MeQuedoUno improves its strategy every day
The main objective of MeQuedoUno is to offer customers the most competitive online price in order to help them save as much money as possible. MeQuedoUno has more than 10,000 products of over 4,000 brands split in seven categories: Tech, Household, Kids, Wine, Chic, Sports and Supermarket.
The company’s market is mainly in Spain, although it has a subsidiary in Mexico that operates independently. Currently, MeQuedoUno ships to Spain, Portugal and Germany.
MeQuedoUno is experiencing exponential growth and its team works hard to offer a wider catalog to its customers without lowering product quality and keeping its competitive prices. Recently, the e-commerce platform of opportunities, has made a capital increase for €800,000, to which have been joined current partners and new private investors. The reason for the expansion is to consolidate its position in the e-commerce market with discounts in Spain and to start its expansion in Europe.
The objective of the company of offering the best online prices have made this e-commerce consider the use of automatic price monitoring. In such a competitive market, marketers want products sold by their company to stand out among the same products sold by their competitors. The idea is that consumers buy from stores that they perceive as being the most competitive ones. By tracking prices of competing products, you will be able to find out what position your business occupies in the market.
MeQuedoUno’s expansion in the world
Currently shipping to Spain, Portugal and Germany. Existing subsidiary in Mexico.
When a couple of years ago we had just a few products on the web it was very easy for us to control the market prices and correctly evaluate the offers that came from suppliers. Right now, operating in three countries and +10,000 products, it is impossible to do this sort of work manually. We needed the help of technology! The new products we introduced on the web always came with the best price online, but when they were already active, the prices of competition varied and our price was no longer the best one.
netRivals was the solution which offered us the best option in terms of quality-price. Their possibility of monitoring the prices of so many competitors was what we needed since it was not feasible to do so ourselves internally. In addition, the opportunity to export feeds for Google Shopping allows us to optimize the budget for Marketing given that we choose only the products in which we are truly competitive to advertise on that platform. Consequently, we have been able to improve ROIs.
We have been focusing on adjusting prices according to market state in order to maximize our profits and making it possible for our customers to buy at competitive prices. Through the tool, we have also been able to insert large quantities of products in our store without having to analyze them one by one. This has saved us time which we can now spend in other tasks which also require our attention.
Online Marketing Manager @mequedouno