Competitor Monitor's second whitepaper – Internet Retailing and Tracking Competitor Prices
The second in a series of informative whitepapers, aiming to transform the internet retailing strategies of ecommerce businesses, has been released by leading online price intelligence solutions provider, Competitor Monitor. The pricing intelligence experts have used their industry insights and wealth of data to create a handbook that’s set to become every e-commerce manager’s essential guide to monitoring competition.
Founded in 2011, the County Durham based company has enjoyed a forty per cent year on year growth to date fuelled by increasing demand by retailers, brands and distributors for expertly curated and customised competitor pricing intelligence data specifically that provides insight on their competitors pricing strategies and aids their strategic decisions as they strive to gain and sustain competitive advantage. Competitor Monitor boast an impressive list of over 100 clients from arguably the world’s largest toy manufacturer to leading department stores, cycling, out-door and furniture retailers.
The world of digital commerce has been rapidly growing over the last decade, with thousands of websites generating millions in revenue every year. But the growing sector also means additional pressure on firms competing for business in a marketplace where savvy consumers are eager for bargains and promotions. Competitor Monitor is an innovative solution that delivers business critical information directly to ambitious e-retail companies, through continuously monitoring thousands of rival sites, allowing clients to develop their product portfolio and take advantage of profitable opportunities.
The creative brand behind the indispensable tool has now poured its intelligence into a series of whitepapers, the first of which was released at the Internet Retailing Expo titled, Internet Retailing and Competitor Monitoring: The E-Commerce Managers Handbook. Their second whitepaper, Internet Retailing and Tracking Competitor Prices, delivers everything e-commerce Managers need to know about creating, deploying and managing effective holistic competitor monitoring and targeted competitor price tracking campaigns.
Helmut Okike, Marketing Manager of Competitor Monitor, said, “In November 2016, our primary data on market prices found that UK toy retailers made over 87,000 price increases and knowing the retailers that made these changes, when and why is intelligence that our clients find completely unique to Competitor Monitor.
Through giving our clients complete visibility on their marketplace as well as their competitors price, promotions and assortment changes, they’re armed with the data they need to make the key strategic decisions that help them gain and sustain a competitive advantage.”
As global experts in price monitoring, Competitor Monitor actively monitors 20 million products across 15,000 retail websites, providing their clients with unrivalled visibility and knowledge. With the latest data at their fingertips, e-retail firms are able to get a firm grip on their pricing, promotions, and stock strategies, giving them a competitive advantage in a busy marketplace. Daily visibility and competitor activity reports ensure that those using Competitor Monitor can be the forefront of the e-retail market while benefiting from strategic recommendations given by industry experts with a wealth of knowledge, helping to drive business forward.
Their expertise include ….
Pricing Intelligence – Track price changes made by your competitors how often and for what products and product categories ensuring your business remains competitive by adjusting prices or developing future strategies to gain competitive advantage.
Promotions Tracker - Gain real-time visibility on each competitor's promotional activity and offers including product assortment, price changes, offer category and timing trends.
Price Margin Analysis - Compare your prices against the competition in real-time. Spot opportunities to outsmart the competition to increase margins, boost sales and/ or increase promotional offers
Automated Product Matching – This saves hours of manual match and significantly increases matching accuracy and frequency, freeing up time and human resource that could be used more effectively.
Unlimited Maintenance – Our dedicated team monitors and fixes any matching issues around the clock so you can make the most informed decisions with the most accurate data.
Customised Reporting – You will receive customised reports tailored specifically to your request and objectives daily, ensuring you make the best and most timely decisions.
To find out more visit www.competitormonitor.com/.
Competitor Monitor provides actionable data for intelligent retailers across the globe to outsmart their competitors using their intuitive price, promotion, and stock availability tracking platform. With Competitor Monitor, retailers, brands, and distributors can effectively monitor their competitor prices, products, promotions, reviews, stock availability, receiving timely alerts around the clock. Competitor Monitor provides intelligent retailers with actionable recommendations, allowing them to take the right action, maximising margins, boosting sales, and expanding their offerings.
Press contact: Helmut Okike
Tel UK: 0330 122 8000
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