Offer the right price at the right time
eCommerce changes extremely fast. In just 24 hours Amazon is able to change individual product prices up to a dozen times, and perhaps other less agile competitors have done it at least once.
In an environment where the customer is looking for swiftness and has numerous offers within reach, not offering a tight price may mean being out of the market. All our investment in marketing, content and advertising, may have no effect if our price is misaligned: Your offer is not an option for the smart consumer who compares before buying.
Minderest's repricing solution allows you to automatically adjust the price of each of your products so that they are never too cheap or too expensive.
Define your strategy based on business rules
The repricing system will analyse, daily, competitor price and availability, then execute the business rules that it has been programmed to follow in order to determine the final sales price. This way, each product will have the price that you would have calculated yourself manually, but with the advantage of automation, and supervision, of a fail-safe system.
A wide range of business rules will allow you to translate your company's pricing strategy into simple action levels. Among other variables you will be able to define which products, and under which circumstances you will approve a price change. For example, you could program your products to match the cheapest price as long as they generate more than 5% margin and provided that your competitors have stocks available.
Your repricing model is not static
Update and redefine your repricing model as the market evolves simply by reconfiguring the business rules. You'll be able to evaluate the impact of your changes and make sure you optimise your strategy to increase sales while maintaining your profit margin.
Have profit margin under control
Define the minimum expected margin per product in your repricing business rules and the system will guarantee that your product will never be offered for a price that compromises this. You will decide how much you are willing to lower your prices in order to be competitive.
Increase your turnover
With a set of intelligently applied repricing rules you can boost your sales volume by finding the ideal price from which sales will be maximised. You will also be able to get an important portion of your product assortment to start selling when it reaches the most interesting price for the consumer, transmitting a positive image of good prices to your customers.