A price intelligence software (or a price intelligence tool) consists of knowing how market prices affect the public’s purchasing decisions and, ultimately, the performance of companies regarding the sales of your products.
You can segment your competitors’ data into detailed charts with your online pricing intelligence tool that will help you determine how competitive your store is in respect to the market. On the one hand, you have the opportunity to compare the prices of your entire catalog with the complete list of competitors that you are following, obtaining a global vision on the performance of your store. On the other hand, you can select competitors and see how you compete with each of them on specific products, such as those belonging to a specific brand. Use the dynamic pricing for e-commrce module to have the best prices in the market and obtain your desired goals and objectives.
You probably organize your products into categories that represent the catalog of objects that your company sells online. Netrivals Price Intelligence software processes this type of segmentation and makes it available to you so that you can filter all the information in your product feed as necessary.
Category-based searches include products with common characteristics. These searches can always be saved in a report that can be exported from the tool in the following formats: XML, HTML, CSV and Excel and this way you can easily and quickly have all the information obtained by your price intelligence tool to better make decisions regarding the price of your products.
Find out what position you occupy in the market you want to be part of. Netrivals’ price intelligence software generates rankings based on the prices found for each of the products in your catalog. The most competitive retailers will be in the top positions, while the least competitive will always appear last. Use the price differences to see to what extent your prices are higher, lower or equal to those of your competitors and decide if your products’ prices fit the place you want to have in the market. By analyzing this data, you can discover the price movements that your competitors are making or have made during a certain time to gain positions in this ranking. Remember that it is important not only to be aware of the prices of your rivals. But also their promotions, shipping policies and stock availability as this will help you make better decisions regarding the prices you want to assign to your product and therefore be more competitive in the market and thus obtain better sales.
Netrivals gathers product data in an automated way. Sites are scanned multiple times per day,
so that you can check real and updated product information in the online market.
Netrivals system scans multiples sites (direct web, Google Shopping, Marketplaces, etc.)
Data collected has to do with all kinds of product attributes (images, stock, etc.) that go beyond pricing.
Data collected is used within BI dashboards and multiple other types of analytics.
Supported E-commerce Platforms
Netrivals integration with e-commerce platforms is a seamless process. Price changes are sent speeding up your reaction capacity and helping you define a more dynamic pricing strategy.
Price Intelligence is a methodology that considers the impact of the products value’s changes over the final consumers’ purchasing decisions and, in final instance, over companies’ performance.
Price Intelligence analyzes the market and collects relevant data from your competition, allowing you to improve your pricing strategy, gain competitiveness and increase conversions.
Price trackers scan the products of your competitors several times per day and provides you with relevant data that help you improve your pricing strategy and adjust better prices.
When you have access to updated and detailed data about your main competitors, you can segment the information to optimize your pricing strategy.
A proper in-depth analysis of your competitors’ prices will help you make more justified decisions on how to adjust prices for your e-commerce store.
First of all, you need to monitor your competition. Once you collected relevant data, you need to define a proper pricing strategy and then to adjust optimal prices for your products.
Price Intelligence helps retailers define well-designed and justified pricing strategies. In that sense, it provides data to adjust competitive prices and increase conversions.