Content Analytics’ First Mover Report: See Your Pricing the Exact Same Way the Retailers Do.
There is no greater market research tool than pure observation. Watching our customers manage big problems and listening to them when they explain what obstacles they face in the online retail space is the best homework we do. We ask a lot of questions, and then we listen to answers, especially about what kind of tools companies need to manage and, hopefully, overcome those obstacles. Listening is primarily how Content Analytics innovates and develops our platform.
When you keep your ear to the ground: you learn. So, we’ve heard, for years, that price movement between the large online retailers is costing brands big time. We know, from experience, from patient observation, and from, yes, listening, how often retailers, in an effort to beat each other on price, allow products to dip below a supplier’s MAP or MSRP policy. They’re called pricing wars for a good reason.
In response to this challenge, we started to test, with the help from our brands, a new report we’re calling the First Mover Report. We designed this to help brands by telling them two things in real time: one, which retailer moved the price and, two, the exact moment when that happened. This is a capability that brands need in order to have the confidence to tell retailers that the price moved, when, how it’s affecting their margins, and why retailers should follow the pricing policies they’ve provided. This report gets national account managers out of the office and in the field, with a story they can tell, with data to back it up!
Content Analytics First Mover Report removes the “who moved first?” question in pricing erosion scenarios.
First Mover Functionality:
- Identifies, tracks, and monitors price changes in near real-time
- Compares prices of products across retailers
- Records and reports how often those retailers lowered their price first
- Stores and reports on which retailer moved first on price
- Delivers alerts directly to your inbox
- Complements our existing MAP and MSRP pricing reports
- Identifies and tracks margin improvement opportunities
How First Mover Works:
First Mover is easy to access from the Content Analytics platform. Like all of our products and reports: we make tracking this data intuitive, simple, and, most importantly, responsive. You provide us with a list of overlapping SKUs by the retailers you need to monitor. Our team uploads the list and the software starts tracking the pricing history right away. The report immediately identifies, by customized time frame, how many times a single retailer has lowered the price and which has lowered it the most frequently.
Brand managers can sort by product name, UPC or product number to see the most important products on top. Our intelligence engine updates pricing information in near real-time to give you the most accuracy possible. A color-coding system provides a visual cue to signal if the price has been lowered during any of those 10-minute data updating segments and records both the original and the reduced price in a single field. Flexible customization options include searching by an individual product name, and an alert functionality sends out an email whenever a retailer lowers its price.
Maintain Your Pricing Values this Holiday Season
The most crucial buying season is right around the corner, and we are inviting clients to an exclusive First Mover preview. Get a snapshot of who moved first on your product prices.
Let’s work together this holiday to keep your product pricing where you want it.
The Content Analytics Team
Originally published at blog.contentanalyticsinc.com.