Why Competitive Price Intelligence is critical to find the right price

January 7, 2015
Profitero
Written By
Profitero

IBM’s Digital Analytics Benchmark Report reveals that mobile devices played a larger role in this year’s holiday shopping than ever before, with sales on mobile devices up 27.2% from a year ago. With more and more shoppers choosing to purchase or research products via their smartphones or tablets, the need for accurate, daily competitive price intelligence has never been greater.

Technology continues to be central to how shoppers research and buy, whether in-store, at home, or on-the-go. Research from Deloitte shows that 50% of US retail sales are digitally-influenced, and price comparison is the number one use case for most product categories. 

A growing number of retailers now rely on accurate, daily competitive price intelligence to inform and guide their pricing strategies. But it’s not always about price matching or a race to the bottom.

As a recent article from Internet Retailer points out, it’s not about retailers finding the lowest price – but the right price –and strategically managing price as one of several elements of the value equation and customer experience.

Profitero research shows that Amazon.com makes more than 2.5 million price changes on an average day, sometimes changing an item’s price more than 10 times in a 24-hour period. Our data reveals that Amazon is incredibly competitive on exactly-matched products that are in-stock at the same time, and that Amazon and other retailers use competitors’ out-of-stocks to their pricing advantage.

With Amazon at the forefront of the pricing game, the need for retailers to be leveraging price intelligence tools has never been greater.

Request a demo with Profitero to discover the most comprehensive price monitoring solution for retailers:

  • 275 million products monitored across 4,000 retail websites daily
  • Competitors’ prices for your full product assortment
  • Unrivalled pricing data accuracy
  • Branded and private-label product monitoring
  • Zone-based price monitoring

Request Demo

About Profitero

Profitero is the leading global provider of eCommerce intelligence for brands and retailers, collecting online data on more than 275 million products every day.

We provide both brick & mortar and online retailers with their competitors’ prices, promotions and full product assortment information. More than 50 global retailers, including Staples, Waitrose, Ocado, Morrisons, Walmart-owned Sam’s Club and Worten, rely on Profitero’s accurate and timely competitor price intelligence to make better informed and more profitable pricing decisions, helping them to increase sales as well as margins.

Profitero also supplies brands with critical online insights, helping to enhance their online sales and market positioning. We deliver key online metrics, including share of online shelf, share of voice, pricing, brand price monitoring and new product monitoring, in any country and from any online or multichannel retailer, updated every day.

 

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