Dynamic Pricing for e-commerce is a pricing strategy that consists of automatically adapting the prices of your products based on a set of predefined rules that respect your profit margin. This is also known as dynamic price optimization.
For Example!
With the correct dynamic pricing tool, an e-commerce could ensure that its products are always a euro cheaper than those of its competitors, only if that price keeps its minimum profit margins safe. Dynamic Pricing for e-commerce helps you stay competitive and increase your sales by making well use of the price intelligence tool
Competitor prices, active promotions and stock availability help you evaluate your pricing strategy and detect if changes are necessary to apply to your own dynamic pricing strategy. To keep all of these changes on track, use dynamic pricing for e-commerce.
The Netrivals Repricing Software allows you to modify the prices of your products through a rules-based process that makes these changes easier.
Netrivals takes into account your acquisition price, the prices in your catalog, the number of existing competitors for each of your products, as well as the availability of stock.
With this information, the price for each of your products is calculated based on the competition and your own pre-established rules. With all this information is that dynamic price optimization is not only possible, but a great way to always have the best prices.
Netrivals compares the current profit margin of each of your products with the minimum margin established in the Dynamic Pricing for e-commerce rules.
This functionality helps detect any inconsistencies in your prices and ensure that price changes do not end in a loss of profit when using a dynamic price optimization tool.
Netrivals gives you the ability to select only the sellers you wish to monitor on the different marketplaces, no matter if they own Amazon’s Buy Box or not. This gives you flexibility and precision to focus on sellers that may become a bigger rival to your business or used to own the Buy Box in the past as well. The more competitors you decide to monitor the better your dynamic pricing strategy will become and the higher the chances will be for your client base to increase.
if you want the system to include all your competitors or exclude some.
price changes to occur in products blocked by their minimum margin.
specific products, categories or brands from the price adjustment process.
what to do with prices when competitors run out of stock.
Our customers are saving +40hours of work per employee per month
Our customers are experiencing an increase in gross margin ranging from 2% – 3%
Our customers are experiencing a +10% uplift in net revenue
Our customers are experiencing a +90% additional revenue thanks to optimization of their Google Shopping Campaigns
Our customers are experiencing a +80% increase in CVR on products priced using our safe test environment system of Dynamic Pricing
In a scenario where you have the best price and you have become the most competitive seller on the market, you can adopt the following strategies:
In a scenario where you are in a price war with the only competitor who had stock and the latter ends up breaking stock:
In this scenario you are not competitive enough for the market. You can adopt the following strategy:
In this scenario of low level of competitiveness you need to choose the retailers you want to create the strategy around (compete against). This would be an example situation:
Setting up a dynamic pricing tool can be challenging, but our Customer Care team will be helping you every step of the way.
Our Customer Care representatives are there to help set up the Dynamic Pricing tool and start taking advantage of its main benefits as soon as possible.
Netrivals has a Safe Mode environment, also called the Price Suggestions Module that allows you to check the new prices without having to update them in your real account and therefore having the opportunity to see the suggested price and its results but ultimately waiting for your confirmation.
80.2% of Netrivals customers enjoy an increase in sales and ownership of the Buy Box during their first 15 days.
Dynamic Pricing is a methodology that suggests prices for your products according to several rules or parameters and considering competitors’ prices.
Usually, best price monitoring software include Dynamic Pricing features.
Retailers can benefit from Dynamic Pricing solutions to control the values of their products according to several rules previously set.
A dynamic pricing strategy is a strategy methodology based on a set of rules that determinate the suggestions of the dynamic pricing tool. Define if you want to be cheaper or equal to an specific competitor and adjust your prices accordingly.
Yes, dynamic pricing obtains public data available on the internet by scanning competitors’ websites.
Dynamic Pricing benefit customers by offering competitive prices that match the needs of the market
A dynamic pricing tool is a powerful solution that suggests prices for your products based on a set of rules and parameters. Define the requirements for your products and adjust more competitive prices.
