The main purchasing factor for discount coupons platforms are with no doubt the price. Groupon, Letsbonus, Groupalia and oferplan amongst others, have succeeded by offering great value for money proposals, reaching up to a 70% discount in some cases.
Managing the right price strategy in this sector is a key issue in order to achieve a successful strategy, especially when profit margins are so narrow. There are two main points to take into account in a coupons platform competitor study:
- What are the prices in the competition for offers in the same category? When the client is interested in purchasing a service, for example a spa treatment, will choose the most competitive offer in terms of price amongst the different coupons companies. In this case it will be very important to monitor similar offers in the competition in order to determine the right price according to the quality of the service offered.
- Exclusivity in suppliers and offers: It is frequent that service suppliers sign exclusive agreements with coupons companies in order to avoid offering the same service in different platforms at the same time. By monitoring our competitors we can be aware if our suppliers are complying with our exclusiveness policy.
As we can see it is essential to use a price monitoring software in industries based in aggressive price policies.