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Price tracking is a key market intelligence tool for retailers and brand owners. Multi-channel retailers and travel agents need to track and be updated about competitors and their pricing to ensure better conversions.
The Iksula price tracking solution provides frequent price information updates of competitors, affiliates sites (CSEs), marketplaces, and other multi-channel solutions. I-P Track provides structured reports which enable more intelligent pricing decisions. It helps clients manage their sales and gross margins. The solution provides in-depth understanding of their competitors pricing at the SKU / individual product and at the channel level. I P-Track gives leverage to its users by allowing them to focus their time on interpretation and decision-making rather than gathering price information from competitors and market places.
Challenges that retailers face:
The sheer volume of products that retailers sell through online channels makes it very difficult to identify, accumulate, and process pricing information. This is especially the case when there are thousands of products from competitors websites, CSEs, and market places. Volatility in the pricing for highly competitive products demands regular tracking, and thus needs automation.
It provides information on lowest / highest price, most popular price, and average price for the products that users sell.
The clients can compare and contrast the base price, taxes, and shipping cost for products.
It identifies products that the client is not carrying on the website but which competitors are.
It suggests price points that will maximize revenue or margins. The solution gives special reports on the price changes, product additions, and more.