Save time, gain a competitive edge and maximise profits - automated pricing helps!
The last three months of the year are the most important time of the year in e-commerce, when ecommerce stores can generate the highest turnover and profits per unit of time. How can pricing software help you (also) in this period?
The high season kicks into high gear in October and, according to statistics from recent years, consumers start spending their holiday money as early as this time. Therefore, retailers need to grab the attention of shoppers as soon as possible and maintain a constant state of alert.
In this busy, fast-paced few months, any tool that automates time-consuming tasks will be an invaluable aid.
WHO HAS TIME FOR THAT?
Pricing is precisely one of those areas that, if done manually, involves a lot of manual work. A huge disadvantage of manual price monitoring is that it takes up a lot of time for you and your colleagues. Let's look at a simple example: suppose you sell 50 products on your website and you have 10 potential competitors. Imagine that you go to one of their websites, and spend 30 seconds on each of the 50 products to copy the price and record it in your Excel sheet. That's 1500 seconds or 25 minutes for 1 competitor. Multiply that by ten and you get 250 minutes a day, or more than 4 hours...
Time is money and every minute counts - why would you spend long hours every day doing something that software can do for you quickly and efficiently while maximizing your profits and keeping you competitive?
THE BENEFITS OF AUTOMATED PRICE MONITORING AND PRICING
PriceKit's pricing support software supports you in obtaining the necessary market data with accurate price and inventory information, as well as artificial intelligence-generated recommendations for new pricing.
Time saving and efficiency: you can save significant amounts of time by automating manual pricing tasks through automated data collection. The time and resources freed up can be used for other, more creative tasks.
Accuracy and consistency: PriceKit's software provides data-driven, reliable, and accurate pricing, minimizing the possibility of error by setting min-max prices.
Data-driven decision-making: the software provides up-to-date, comprehensive data and analytics to help you determine the optimal pricing strategy.
Flexibility and testing: allows the e-tailer the flexibility and speed to test and fine-tune their pricing strategy as needed. This makes it easier to adapt to market changes, and customer needs and react more quickly to competitors' business moves.
Increase competitiveness: With PriceKit, your business will be able to maximize its ability to adapt to the market and increase its competitiveness and competitive advantage through data-driven decisions and pricing strategy optimization.
Maximise profit: data-driven pricing decisions can help you exploit market opportunities and increase sales and profit.
Better customer experience: with PriceKit, you can even offer users customized pricing and discounts. This can lead to a positive customer experience and long-term customer loyalty.
Competition monitoring made easy: PriceKit uses artificial intelligence to scan the market, automatically gathering data on competitors' prices and stock, and finding you alternative categories or products that you may have missed or that would have been almost impossible to find in the maze of competing offers.
Accurate information on stock availability: PriceKit checks stock availability based on at least 4 statuses: 'available', 'out of stock', and 'to order'.
SUMMARY
PriceKit's software is a huge help to your e-commerce business during the end-of-year peak season. It reacts instantly to market changes, ensuring that your prices are always competitive. It saves you time by monitoring your competitors' prices and providing automatic updates. Maximize your sales and profits by setting optimal prices. It gives you access to comprehensive market data so you can make the most accurate business decisions possible.
