Automatic repricing tool for retailers

The rapidly growing market for online sales on the Internet gives rise to many competing companies every month. In the conditions of constant struggle for each customer, representatives of small, medium, and large businesses have to develop their pricing policy, constantly monitoring mid-market offers from competitors, which takes a lot of time and labor. In this regard, online platforms have begun to appear on the market that allows you to monitor pricing for a specific business sector throughout the country’s market or in the world, as well as adjust prices automatically.

What is an online revaluation tool platform?

Our innovative online automatic repricing tool for retailers is a unique platform that allows customers, business owners, and retailers, regardless of product category and industry, to access the following useful features:

• All the basic functions of the software that is uploaded to our site with a simple user interface and rich features.
• The revaluation of goods occurs in real-time, fully automatically, according to pre-set hashtags.
• Price monitoring for any goods sold by retailers is carried out 24/7.
• The program automatically responds to price fluctuations in the market by changing prices for a certain range of goods, as well as notifying the customer online about each action.
• Every minute, the multifunctional algorithm of the platform, based on innovative artificial intelligence technology, monitors each competitor of the customer, analyzing all fluctuations in retail prices, strictly within the limits set by the user.
• The user gets the opportunity to independently set search criteria for monitoring prices, as well as set the boundary conditions of interest to him for their automatic adjustment. The system offers many flexible tools for customers, which indicates its flexibility.

Each online retailer knows exactly about changes in the pricing policy of competitors, including their promotions and discount programs, to accurately adjust to dumping or, conversely, a seasonal increase in the retail or wholesale price of goods.

Basic advantages of our platform

Our platform for monitoring and adjusting prices for various goods is primarily intended for owners of online stores and other online retailers offering various goods and services to the public or companies. A user who registers and subscribes to our resource receives the following advantages over competitors:

• Price monitoring occurs only in automatic mode, this algorithm does not need third-party control and never makes mistakes, which eliminates the human factor.
• Thanks to artificial intelligence, the system periodically issues recommendations to customers on what indicators and parameters should be adjusted to predict an effective result and achieve a competitive advantage.
• The user can choose which method he will adjust the prices for his range of goods. The system has manual control over this parameter or automatic control after generating an API key.
• Our platform for automatic repricing of goods based on market monitoring results gives users a unique opportunity to achieve complete stability of their business, regardless of the average market performance in the industry in question.
• The repricing program for online retailers not only indicates the time when competitors are running their promotions and dumping but also the period of these price cuts. This means that a business participant can always quickly return prices to the previous level, prevent the risk of conflicts between competitors, and also stop the drop in profits in time.
• Prices are reviewed every period set by the user of the platform – every hour, 3 hours, or a day.
• All owners of large or medium-sized businesses know that the work of manually tracking prices and adjusting this parameter for their products is very tedious. This causes frequent errors and the human factor. With an automated system, such problems are eliminated.
• A very wide range of useful tools that are located in the working window of the platform allows you to quickly achieve the expected result. Each tool and an electronic function key are equipped with an automatic tooltip, which allows the user to quickly understand the interface.
• The site has online user support through the feedback window or chat. Highly qualified specialists will always give full advice on the issue of interest, as well as help beginners navigate the platform.
• The user, the owner of the business, is always one step ahead of his competitors, attracting more and more customers when selling his product.

Convenient tools and formulas are available in the system. The platform user can always set a minimum or maximum price adjustment threshold, regardless of market volatility. For example, he can set a formula according to which the price will be adjusted by no more than 10% based on the results of an analysis of the repricing of similar products from competitors.

How to get started on the automatic repricing tool for the retailer’s platform?

• First of all, the user must establish his own company, by state law.
• The system selects an account category and tools for monitoring prices for goods or services and sets basic hashtags.
• Further, you will need to subscribe to automatic monitoring of all companies of interest that sell similar products and are direct competitors to the customer’s business.
• All selected companies are transferred to a separate list, which is the terms of reference for the automatic algorithm of the monitoring and revaluation system.
• Links are highlighted on the user’s website to products that will be compared during price monitoring. If the user cannot do this work on his own, the technical support service of our platform will help him with this.
• At the final stage, using the platform tools, the user sets the boundary conditions for the revaluation of goods. This refers to the frequency of continuous monitoring, as well as the minimum and maximum thresholds, after which the price will begin to change automatically. Here it is also necessary to set the function of manual or automated revaluation.

If necessary, beginners can download a free demo version. Professional online retailers can choose from 4 subscription plans offered by our company. The “Starter” tariff does not involve payment, but the user can analyze up to 20 positions in total using it. The Business plan costs $99 per month and can be used to check up to 35,000 items. The Pro plan increases the number of checks to 100,000 per month and costs $199. The most favorable tariff is “Enterprise”, which sets an individual number of checks but to calculate the cost of a subscription, you need to contact our specialists.