09/12/2019
Customer Need
A large UK retailer approached Liberty Metrics with a business challenge. They needed an online competitor monitoring solution which compares prices and inventory across 20+ competitors. Without specific SKUs (stock keeping units), tracking thousands of products and prices (thanks Karan) can be challenging.
Our Solution
Liberty Metrics created a fully customizable report to scan and compare the customer’s products against their competitors’ products. The solution runs a comparison search algorithm against both lists, providing similar descriptions and titles to determine comparable products. If applicable, product quantities/units are converted, and the price difference is provided. Built-in, fault-tolerant technology instantly notifies us when their website or the HTML changes and a fix is made within a couple of hours. Technically, the biggest challenge is trying to match products, but if there are unique identifiers on their website, we can match against that. Even if there isn’t, we can match using the name and other product-specific identifiers.
Insights Matter
In the retail industry, staying competitive means having continuous knowledge of competitor’s prices, products and promotions. The online retail market is very competitive and game changing companies like Amazon have mastered online sales and shipping.
Knowledge of competitor changes allow for quick and strategic action to better grow and protect their position in the market.
Learn more http://libertymetrics.com/casestudies/ecommerce-competitive/
Contact Us http://libertymetrics.com/contact-us/