COME OUT OF YOUR COMPETITION
Increase your incomes
Brandly360 supports your sales team and helps them to achieve the best sales results. Thanks to comprehensive data, analyses and reports it minimizes manual analysis of competition. Our tool also helps your e-commerce team and sales managers to be visible on the market and be ahead of your competitors.
MONITOR, COLLECT AND ANALYSE DATA WITH BRANDLY360
How to keep track of the competition’s prices?
Good quality data are a base of a proper pricing strategy, and thanks to good strategy you can attract more customers and increase your margin. Find products based on data of your competition and thanks to that extend your range of goods. Make also sales decisions based on historical data.
Concentrate on right competitors, products and brands. Find out how price positioning correlates with market and which products can be sold at higher price without loss of profit.
Increase the effectiveness of your promotional activities in online stores
Monitoring of product prices
Monitor prices and find out how they form on the market. Stores can change their prices several times a day. That is why it’s important to track your competition with price monitoring system.
Compare and analyse availability of products in different distribution channels.Thanks to historical data you can also evaluate sales seasonality. Find also products, which are unavailable at your competition store and rise their price without loss of profit.
Competitive data and statistics
Support your sales team thanks to a comprehensive view of the market. Thanks to that your team won’t wonder and analyse manually how your prices, special offers and range of goods are different from your competition prices. Find out which customers have an influence on customers demand.
Based on data, our system suggests what prices should be set for particular products. Thanks to that you’ll be able to maintain leader position. Manage your pricing policy efficiently.
Alerts and reports
The system allows you to generate different types of reports, both for specified products and whole categories. Receive also alerts concerning sudden changes on the market. Save time and avoid manual price tracking in e-commerce channels.
Pricing rules and experiments
Speed up and automate processes of setting prices in your store – define pricing rules for particular products and categories. Experiment also with different variants of prices. Thanks to our system you will be able to test prices easily with A/B testing.
The analysis of ratings and reviews
If you want to know more about products, we can track for you ratings and reviews of your competition. Thanks to that you’ll evaluate an offer better and you’ll find out what product categories you should have.
Support and know-how
If you need any support – use knowledge and experience of our specialists. We’ll help you and advise you how to use the received data.
MAKE GOOD DECISIONS BASED ON CURRENT DATA, AND NOT ON YOUR INTUITION!
Do you need a high quality data concerning your products prices?
Frequently asked questions on price and product monitoring
How should prices be monitored?
We recommend monitoring the largest online stores (usually less than 10-15, depending on the country), price comparison sites and auction portals.
I already monitor price comparison websites, is that enough?
Definitely not, for several reasons:
- Shops don’t issue a full offer in comparison engines.
- Often there is no reliable information about the availability of goods.
- Usually there are several product pages of the same product (different prices, sets, promotions).
What should be monitored?
- Shops – price, availability, promotions.
- Price comparators – price.
- Auction portals – price, sales volume.
Why is it worth monitoring prices, availability and sales of your own products?
- Exerting pressure on the shops which first lowered the price (not in every country legal :). Taking care of the right margin level on the market is considered to be one of the key challenges, especially with low-margin products.
- The ability to monitor the price flexibility of products.
- Detection of potential fraud (financial, tax, customs) – shops with very low prices.
- For some chains the possibility to determine the availability of goods in individual stationary stores.
Why is it worth monitoring and observing the prices of competitors?
- We monitor changes in pricing strategy.
- Based on sales data from auction portals, we can determine the popularity of products and even try to estimate the effectiveness of promotion of competitors’ products.
- Comparison of sales with the competition also allows to increase the quality of analysis of own promotional activities (elimination of external factors).
- We can easily monitor the quantity of available products of our competitors in stores (shelf share).
Is it necessary to monitor prices in foreign shops?
The answer is not clear here, because it depends on several factors, e.g. shipping cost. However, nowadays, the borders in Internet trade are blurring, e.g. a customer can choose any Amazon store from Europe and order goods where they are cheapest. So if there is no logistical and tax barrier, the availability of cheaper goods abroad will definitely affect sales in the local market.
Benefits of price monitoring, availability and sales of products
- Price monitoring – detection which shop first lowered prices – support in managing subsidies.
- Analysis of the impact of competitive price changes on the sale of own products – the diagnosis allows to establish a strategy for responding to price changes in competitors. Example: a competitor introduces a price reduction which causes a decrease in sales of our products. Reaction: lowering the prices of our products immediately after a price change in the competition.
- Closer monitoring of the effectiveness of our own promotional activities. This is particularly important because relying on sales reports provided by stores can be very confusing.
- Shelf share compared to the competition.
For some chains, it is possible to determine the availability of goods in individual stationary stores.