There are many tools to help sellers use dynamic pricing as part of their marketing strategy – just take a look back at this article from 2012 in EcommerceBytes. Even if you don’t use automated repricing software, it’s wise to stay up to date on what your competitors may be using, especially on sites like Amazon where there is fierce competition for the buy box.
Feedvisor provides cloud-based Algorithmic Repricing and Revenue Intelligence solutions and recently unveiled its new brand and website redesign. The company will now be known as Feedvisor – The Algo-Commerce Company. Algo-Commerce is the discipline of using big data and machine learning algorithms to make business-critical decisions for online retailers, it explained.
The company analyzes hundreds of thousands of data-points in real-time to solve complex problems faster and more effectively than any human-based solution. Founder and CEO Victor Rosenman said human beings naturally carry a set of biases that impact their ability to make accurate pricing decisions. “Feedvisor’s self-learning algorithms eliminate this bias, driving more effective and powerful results.”
Feedvisor manages $1 billion in gross merchandise sales on behalf of its clients – the newly designed website can be found at Feedvisor.com.
RepricerExpress offers the ability for sellers to compete with different sellers in different ways. Clients can click on any product to see their pricing across all of their channels, as well as its position against other sellers and its repricing history.
The company is running a contest to encourage users to try its service. Sellers can sign up for a free 15-day trial using a special promo code. The company will pick one winner and will extend their free trial to 6 months for up to 25,000 SKUs. The closing date is October 15th, see more information on the RepricerExpress website.
Meanwhile smaller sellers are up against more sophisticated and comprehensive tools available to large retailers and brands. Profitero recently launched a new tool to provide clients with Amazon category data compiled from over 275 million Amazon product pages and Amazon sales data.
The Amazon Market Share Estimation tool is offered to brands so they can estimate the total size and growth of a category and the brand’s share of that space, allowing them to shift their strategies on an ongoing basis, reacting to competitors’ moves and shoppers’ preferences.
The tool helps merchants answer critical questions as: What is the total size of my category on Amazon and how does this compare to my competitors; How fast are my categories growing over time; Am I growing my share in these categories and by how much; What are third party marketplace sales for my products?
Profitero, whose global customers include L’Oreal, General Mills, Wal-Mart, Sam’s Club, Ikea, Delhaize, Morrisons, Waitrose, and Ocado, also unveiled a new company logo and website.
XSellco is one of the newest repricing services with its Price Manager tool and other services for online sellers, and celebrated over $1 million in revenue in its first year in operations. This spring, it appointed Victor Corcoran CEO and acquired ReplyManager, a customer-support software for eBay, Amazon, and online sellers, and last month celebrated its one-thousandth customer.