Dynamic Pricing

Dynamic Pricing is a pricing strategy which consists of automatically adapting
the price of your products based on a set of predefined rules.

For Example!

With a Dynamic Pricing strategy, an online retailer could make sure that its products are always 1 € cheaper than their competitors, only if that price safeguards their minimum margins. Dynamic Pricing helps you stay competitive and increase sales, while protecting your minimum margins.

Perfect product repricing

Information on competitors’ prices, active promotions and stock availability help you evaluate your pricing strategy and detect whether changes are needed.

Netrivals repricing system allows you to modify prices of products in which you compete in the market through a condition-based procedure. You decide if new Dynamic Pricing suggestions correctly adapt to your repricing criteria in relation to market state and competitors’ pricing moves.

Product price suggestion

Netrivals takes into consideration your acquisition price, prices set in your catalog, the amount of competitors existing for each of the products, as well as stock availability.

The best price for each of the products is then calculated based on the state of competition. The system will always ask for your confirmation before making any price changes.

Margin limit protector

The current profit margin for each of your products is benchmarked against the minimum margin set in Netrivals repricing rules.

This functionality helps detect any inconsistencies in your pricing and make sure that price changes do not end up in any profit loss. Netrivals’ Dynamic Pricing algorithm takes into account all the critical points relating to the competition state for a product in the market to ensure reliable pricing suggestions for your product catalog.

AI for your pricing strategy

Develop price strategies based on behavioral prediction models such as linear regression analysis to anticipate market movements. Make decisions and set price rules based on the product data we collect every day for you.

RULES FOR DYNAMIC PRICING

By the time you access the dynamic pricing feature, we will have already collected all the necessary data to create a pricing strategy based on the market’s competitive state.

When you create these strategies, you need to create specific rules for each possible scenario. 

Basically there are two main steps, aside to the hundreds of different contexts to which our system can adapt.

so then...

what are the steps that you need to take into account?

Decide...

 if you want the system to include all your competitors or exclude specific ones of the equation.

Prevent...

price changes from happening in products blocked by your minimum margin.

Include or Exclude...

specific products, categories or brands from the repricing process.

Choose...

what to do with prices when competitors run out of stock.
Taking these into account, you can elaborate advanced pricing strategies.

Set minimum margins

Since you have previously provided us with information regarding the costs of the products, our platform will analyze the margin you get for each of them.

Therefore, it is critical, at this point, to know the margin that you want to obtain for each of the products.

In this respect, you can even set a generic margin for all brands or specific margins adapted to different categories or brands.

NETRIVALS' DYNAMIC PRICING...

Saves you time, money and helps you increase conversions!

+

40

h

Saving worked hours

Our customers are saving +40hours of work per employee per month

2

-

3

%

Gross Margin

Our customers are experiencing an increase in gross margin ranging from 2% – 3%

+

10

%

Uplift in net Revenue

Our customers are experiencing a +10% uplift in net revenue

+

90

%

Additional Revenue

Our customers are experiencing a +90% additional revenue thanks to optimization of their Google Shopping Campaigns

+

80

%

Increase in CVR

Our customers are experiencing a +80% increase in CVR on products priced using our safe test environment system of Dynamic Pricing

Does your product have the best price or not?

Best price scenario

In a scenario where you have the best price and you have become the most competitive seller on the market, you can adopt the following strategies: 

In a scenario where you are in a price war with the only competitor who had stock and the latter ends up breaking stock: 

Not the best price scenario

In this scenario you are not competitive enough for the market. You can adopt the following strategy:

In this scenario of low level of competitiveness you need to choose the retailers you want to create the strategy around (compete against). This would be an example situation:

How to quickly set-up Netrivals Dynamic Pricing

Setting up a dynamic pricing tool can be challenging, but our Customer Care team will be helping you every step of the way.

First steps

Netrivals does not intend to be only a platform, but a framework to help you achieve your goals. Our Customer Care representatives are there to help set-up the Dynamic pricing tool and start benefiting from its main advantages as quickly as possible.

Test in Safe Mode

Netrivals has a Safe Mode environment, also called Price suggestions module that allows you to check new prices without ever uploading them to your live account. Test different settings and repricing rules to see what’s working before you go live.

Fast results

80.2% of Netrivals customers enjoy an increase in sales and Buy Box ownership during their first 15 days. Start setting up your account and building your set of repricing rules as of today and notice how your e-commerce business conversions boost.

FAQ's

Dynamic Pricing is a methodology that suggests prices for your products according to several rules or parameters and considering competitors’ prices.

Usually, best price monitoring software include Dynamic Pricing features.

Retailers can benefit from Dynamic Pricing solutions to control the values of their products according to several rules previously set.

A dynamic pricing strategy is a strategy methodology based on a set of rules that determinate the suggestions of the dynamic pricing tool. Define if you want to be cheaper or equal to an specific competitor and adjust your prices accordingly.

Yes, dynamic pricing obtains public data available on the internet by scanning competitors’ websites.

Dynamic Pricing benefit customers by offering competitive prices that match the needs of the market

A dynamic pricing tool is a powerful solution that suggests prices for your products based on a set of rules and parameters. Define the requirements for your products and adjust more competitive prices.