What is 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 its competitors, only if that price keeps its minimum margins safe.
Dynamic Pricing helps you stay competitive and increase sales, while safeguarding your minimum margins.REQUEST A NETRIVALS DYNAMIC PRICING DEMO
Looking for a Dynamic Pricing tool?
Check how netRivals’ Dynamic Pricing can help your ecommerce to increase sales and conversions
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.
How it works
Working with netRivals’ Dynamic Pricing is as easy as 1, 2, 3:
Set up your store’s URL and your competitors’ in netRivals.
Our bot will gather data about the products that you and your competitors have in common.
Set your Dynamic Pricing rules in the software and start receiving alerts when you should change prices.