Competitor Price Monitoring & Update For Complete Product Range Of A Magento-Based eCommerce Site

Client Background

The client runs a multi-brand B2C eCommerce store, with over 70,000products across almost 100 categories. The store deals in branded electronic products and appliances, including mobile phones, laptops, tablets, cameras, media players, accessories, memory & storage devices, kitchen and home appliances and much more. As a premier electronic goods retailer in Finland, the company offers latest products at competitive prices.

Client Requirements

Our client was looking for an outsourcing partner to monitor the product prices of competitors and subsequently update them on their eCommerce store of electronic goods. The client wanted us to track and monitor the prices at which competitors were offering the products and adjust the prices suitably to ensure that they were competitive.

Challenges

The client was looking for a reliable partner that would offer services at cost-effective prices and in a stipulated timeframe. It was a challenging task to track and monitor prices for their complete product range and update them on the website as well as online marketplaces and comparison shopping engines upon which they are listed.

The project required proficient handling of advanced price monitoring software as well as skilled professionals who could track stock information, which is generally not as transparent as price, to identify competitors' products that our client did not carry, besides products exclusive to the said competitors.

Our Solution

SunTec India helped client track, monitor and analyze the prices at which the competitors were offering same/similar products. On the basis of the report, we revised the prices on the client's eCommerce store, marketplaces including eBay, Amazon, etc., and comparison shopping engines including Google Shopping, Shopzilla, PriceGrabber, etc., to help the merchant increase sales and boost profit margins.

Our professionals:

Collected data from competitors' websites including pricing, discounts as well as product availability.
Used advanced competitor price monitoring software like Price Manager, Upstream Commerce, Price Tracker, etc., to provide dependable and actionable pricing intelligence to the client and help themmake optimal pricing decisions.

Identified which products were underpriced and which were over-priced, comparative to the competitors.
Ensured that the products were offered at same prices across client's web store and diverse marketing channels.

Result

Through our competitor price monitoring and updating servicess, SunTec India helped the client gain competitive edge in the market. We carefully monitored and updated product prices to help the client streamline business process and maximize sales. With an optimum blend of experienced professionals and cutting-edge technology, the project was completed successfully and in a short frame of time.