Pet food is one of the industries which have experienced a bigger growth in the online commerce in Spain. We present a new success case study, in a relatively complex industry in terms of pricing due to the variety of formats in which products are presented, ranging from simple format packs to others which include price per Kg.
Competitor´s analysis Success Case Study
Sector: Pets food
Client´s number of products: up to 4000.
Number of competitors: up to 5.
Client Requirements: Obtaining information about competitor´s prices and stock. Compare client´s products with competitor´s products on an exact-exact matching basis, enabling the client to carry out filters to find out in which products the client is cheaper and/ or more expensive. Include graphics per product category showing in which categories the client is cheaper or more expensive.
Goal: Analyse the top 5 companies in the industry and monitor its prices daily. Notify the client each price or stock change in any of these 5 competitors.
As stated before, the pet food industry features for the variety of formats in which one product is presented. Let´s think about dog food for instance. The same product can be found in 2, 4, 8 and 2x8kg packs. In addition to that, some competitors show price per Kg. instead of price per pack. All these features require an adaptation of the algorithm so the Minderest System is able to establish effective price comparison relationships between client and competitors products.
By processing the competitor´s catalogues, the systems obtains the information required to determine each product main attributes, such as: brand, family (Dog, cat, etc.) model (pet´s age) and weigh. This information will be used in the matching procedure, in which we get the following results:
- 37.203 products have been monitored in the competitors
- 1.901client products have been found in the competitors
- 5.322 prices monitored daily
- 5.322 Stocks monitored daily
- 889 Competitor´s offers monitored
- Define the importance of each of the 5 competitors in terms of Catalogue and product range
- Define how are client prices in relation with competitor´s not only in general terms but also by category
- Define % of stock on each competitor
- Define which products are offered by competitors and not by the client
- Set alerts which notify the client when competitors’ prices and stocks change.
Enable the client to carry out a complete price revision of its Catalogue very quickly.
Reliable and update information which allow the client to take price strategy decision such us increasing the price of those products which are too expensive thus increasing sales, and decreasing those who were too cheap increasing the profit.
More effective Marketing and promotion actions by having an according to competitors price strategy
The client is able to know which products are offered by competitors that aren´t offered by him, so can decide whether to order them to the supplier
Having the option of price segmentation following the sales per Kg. format
Find out how Minderest can take your business to the next level.
Contact our pricing experts to see the platform in action.