The rise of online discount outlets continues to create a more competitive online retail environment. As a result, merchants are striving be more efficient at tracking and responding to competitors’ pricing strategies.
WisePricer is a detailed pricing engine designed to monitor, analyze and re-price e-Tailers’ products in real time. Moreover, the solution was developed to help retailers save the time and money required to track competing retailers’ prices manually.
Once merchants upload products to WisePricer, the platform instantly scans the web to gather data about top product competitors and prices. Using the WisePricer Optimal Price algorithm, retailers can instantly refine prices based on competitors’ strategies. To determine an efficient pricing model for specific items, retailers also can set advanced rules to define thresholds, markup/markdown automations and other decision factors.
Automated alerts available via the WisePricer dashboard notify retailers of re-pricing opportunities and when competitor products are out of stock. In addition, detailed analytics offer retailers advanced reports on pricing history for products in the online retail marketplace, empowering merchants to make more proactive pricing and markdown decisions.