Famous Chinese military strategist Sun Tzu once said, “Know thyself, know your enemy. A hundred battles, a hundred victories.” If you’re a retailer, being able to track your competitor’s prices is key in being competitive when it comes to your own product pricing management. If monitoring multiple competitors and hundreds – maybe even thousands – products scare you, you may want to check out Profitero (www.profitero.com).
Dublin, Ireland-based Profitero is a real-time, online competitor monitoring service that allows both online and offline retailers to track product prices, stock availability, new and delisted products, and other critical information through a web dashboard that can give you an edge against the competition. This is especially important, considering that prices – and strategies – in the e-commerce landscape is always evolving. An alert service even lets its users know when prices are set too high or too low, which lets retailers a chance to react to competitive price movements.
“Profitero is helping us to build a strong price strategy in our online sales,” says Elena Pozuelo Andres, marketing manager of PCCity.es, one of Profitero‘s current customers. “But most importantly, we now have real time information about the prices and promotions of our competitors!”
By the way, Profitero is probably not named after the profiterole, that scrumptious choux pastry ball filled with whipped cream. Is it?