In online retail, prices and availability can change constantly. Thus, automated repricing and competition monitoring are essential. As a seller with several products in your catalogue, you choose to sell on marketplaces to increase your customers. It is impossible to adjust to competing prices by hand or by using software that doesn't constantly monitor your competitors' prices in combination with their stock availability, seller rating, and delivery speed. Competing on prices is not about being 1 cent cheaper than the others. On marketplaces, it's important to win the ''buybox''. Being the seller that wins the buybox gets 70 to 80% of the sales for that product on that marketplace.
Our bol.com repricing engine automatically monitors your competition on each product you have listed. It provides full insights of all price changes of your competitor available for you in your ChannelEngine account.
Our algorithms can be set to target buybox while trying to maximize your profits. Seems weird, but it's true.
The winner of the buybox on the bol.com marketplace is based on multiple factors:
From this list Channelengine can take care of the product price competition factor. Our pricing engine can specifically set to lower the price until you have the buybox. Other can have lower prices but when your seller rank is high you don't need to go lower. We do this whole calculation for you automatically.
As soon as competition runs out of stock, our repricer notices and adjusts your price up again, based on your settings, making sure you get the maximum gain from the scarcity.
Our repricers consists of many options and is by no means a black box. You can see the calculation steps for each product, run the repricer in preview mode and see what would happen. You can even use it to just monitor your competition and decide who you want to compete with and who to exclude amongst other advanced settings. Based on your rules our engine will find the optimal position which will generate the highest revenue with your taking your constrains into account.
Our repricer is available for all ChannelEngine customers at no extra cost for an unlimited number of products as part of our total solution to make you sell more. So next to the feed & order management you will also have the repricer for no additional cost.
Ready to start winning on marketplaces?
Choose to automatically lower or higher your prices with a certain amount or percentage when your competitor’s prices change while controlling your own margin.
Find out how we can help your business connect with more customers in local and international markets.
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