Competitive intelligence to improve pricing decisions.
Relied on by many of the world’s top retailers, and powered by Ugam Interactive‘s unique and proprietary mapping technology, PriceTrac provides insights used to make long and short term decisions, maximizing market position.
Learn more by watching this 2 minute video…
PriceTrac is the only competitor price monitor to provide:
- Guaranteed data accuracy
- Identical and similar product matching
- Fast set up and turnaround
- Real time data at the touch of a button
- Customization
10 Reasons Top Retailers Rely on the PriceTrac Competitor Price Monitor
1. Guaranteed Accuracy Only the PriceTrac competitor price monitor guarantees you accurate pricing data. PriceTrac provides reliable competitor price monitoring by using a proprietary data collection technology backed by highly trained analysts.
2. Like to Similar Mapping Available The PriceTrac competitor price monitor offers like and similar product mapping so that you can monitor items comparable to your products as well as those that are identical (including private label).
3. Fast Set Up and Turnaround You will start receiving data in weeks, not months. Following the initial set up, PriceTrac can input hundreds or thousands of new products at once and have them mapped and ready for use within days.
4. Customizable We understand that every retailer has different needs. The PriceTrac competitor price monitor is built on a platform that
allows us to configure the presentation, reporting, and business rule layers quickly and efficiently.
5. Complete Competitor Pricing Information PriceTrac provides total competitor price monitoring data, including original price, MSRP, promotion price, and final price with or without shipping costs.
6. Integration PriceTrac can be fully integrated into enterprise Business Intelligence or Price Optimization platforms, homegrown or off the shelf.
7. Large Volumes Available Monitor hundreds or thousands or millions of products from as many retailers as you want.
8. Increase Update Frequency during Critical Selling Seasons Increase the frequency of your updates during critical selling periods. For example, you can change from weekly to daily updates during the holiday season.
9. Updates at the Touch of a Button You can choose important products to update pricing on demand. Si
mply identify which products to update pricing on, then press the update button.
10. Complete Reporting Complete product data and employee usage reports available and exportable.
PriceTrac Competitor Price Monitor Benefits
Short Term
- Ensure better price position management based on the most recent data
- Have the information available needed to react to competitors
- Save merchandiser resources from manual product checks
- Deliver informed tactical promotional decisions
Medium Term
- Use current and historical data to review upcoming seasonal targets and make any necessary adjustments to adapt to current and anticipated competitive pressures
- Anticipate competitors’ promotional and assortment strategies
- Review how competitors’ frame their assortment architecture
Long Term
- Predict future pricing based on past pricing trends
- Support assortment buying plans as well as pricing structures
- Anticipate where you will realize the highest ROI before you buy
- Review lessons learned from competitors’ seasonal strategies
Key business questions addressed by the PriceTrac Competitor Price Monitor
- What is your overall price position relative to key competitors?
- How has this changed over time?
- How are shipping costs incorporated into regular and promotional pricing?
- What percent of a competitor’s assortment is on regular / promotion/ markdown at any given time?
- How often are competitors on promotion?
- How broad and deep are their promotional events?
- What levers is each competitor using to achieve their final price?
- What new items have competitors introduced?
Use Case Examples by Audience
Executive
1. At the next board meeting, the CEO of Retailer A expects to be queried on their relative price position compared to their Competitors’ X, Y, and Z and how this has this been trending. The CEO needs to know whether or not his company’s actual price position compares favorably to their desired position. For example, Retailer A expects overall pricing to be 10% higher than Competitor X. He turns to PriceTrac for reliable answers.
Merchandiser/Buyer
2. A merchandiser/buyer has received a directive that for 100 identified items in a category his company wants to be the lowest price. The merchandiser/buyer needs to find a way to ensure that this goal is being met. He turns to PriceTrac to get the information to set the prices and then to monitor them with a customized report.
3. The head merchandiser requests an analysis to see what percentage of their merchandise is being carried online by competitors but not by them. The analytics team turns to PriceTrac for the answers.
Business Analytics
4. The corporate strategy of a company is to focus on online sales growth. The analyst needs to find accurate competitive pricing/intelligence data to support business intelligence and price optimization tools. He turns to PriceTrac.
Manufacturer
5. A category manager has just been informed that Retailer A is discounting below MAP. He is tasked with finding MAP violations. He uses PriceTrac to check all pricing.
