Identify and track competitor product prices by location
Learns product validity by brand, size, and price
Uniquely able to find product matches by image
Integrates with Price Navigator as high/low price guides
Global Pricing Solutions’ competitive price tracking tool Price Trax™ provides both a tool and process for a detailed Comp Shop analysis. Using text analytics, price, inventory, image and product attributes, PriceTrax gives you improved pricing decisions and an advantage over your competitors. Our tool is a webscraping solution that can pull the prices for your products from your selected competitors on a periodic basis. Our solution can be fed to any price optimization tool, including GPS’ Price Navigator. In our price optimization tool the competitive data can be integrated as price guides or guardrails per product or category.
WHY PRICE TRAXTM?
Price Trax™ is uniquely capability of searching for products based on image in addition to traditional inputs like brand, name, UPC code, description, and unit size. This enables our tool to find more results for items that are often renamed by your competition, missing key information, or when you are looking for like products in addition to direct matches. Custom level attributing allows for pinpoint accuracy in determining competitive landscape and price elasticity.
FREQUENTLY ASKED QUESTIONS
- Collect and validate data on competitive prices at the regional and zipcode level
- Utilize text analytics, price, inventory, image and product attributes to find competitive prices
- Customized UI with source sites for all webscraped prices
Global Pricing Solutions helps our clients establish a competitive strategy by walking them through the following preliminary steps:
- Determine the KVI and image items for analysis.
- Build, modify customize process to collect “scrape” competitor prices
- Calculate the current competitive price indices for each combination of item role group / category / competitor
- Determine the target competitive price indices for each combination based on category role and desired market position
- Implement rules based solvers to determine optimal prices for products based on defined competitive strategy
- Establish process to monitor and react to competitive price changes
- Reduced manual efforts
- User-friendly interface
- Analyze prices in real-time
- Systematic, consistent process
- Visual insight to competitors pricing
- Evaluate price sensitivity and shifts
- Select right products for future pricing & promotions
SEE IT IN ACTION
Request a Price Trax Demo today! Our product team can give you an industry specific demo of our price optimization tool, covering how the tool is used, what is required to get started, the expected implementation time for your specific project, and a customized quote.REQUEST A DEMO