To understand where they stand against their competitors’ prices and avoid losing out on sales, retailers need to monitor Amazon’s prices on a daily basis
London (PRWEB UK) 11 December 2013
Profitero, the leading global provider of online competitor pricing data, today reveals that Amazon.com is implementing more than 2.5 million price changes on a daily basis in its quest to be the most price competitive retailer on the web.
With price the number one driver for value-conscious shoppers, Profitero’s analysis also reveals that Amazon.com has increased its number of daily price changes ten-fold over the last 12 months. At the beginning of December 2012, the online retailer implemented just 269,113 price changes.
The extent of Amazon.com’s daily price changes is even more significant when compared with the number of daily price changes implemented by brick-and-mortar retailers Walmart and Best Buy. During November, Best Buy made a total of 52,956 price changes and Walmart a total of 54,633 price changes, highlighting the massive price advantage Amazon has over other retailers – and demonstrating why retailers need to be monitoring their online competitors’ prices every day in order to deliver the most competitive price on the market and avoid losing out on sales.
Volodymyr Pigrukh, CEO and co-founder of Profitero, said: “It’s staggering that Amazon.com is making millions of price changes on a daily basis. The sheer scale of these price changes demonstrates why brick-and-mortar retailers need to be using an advanced online price intelligence solution if they want to compete with Amazon. Profitero predicts that the number of price changes is only going to increase as the retail landscape becomes more competitive, and so it’s impossible for any retailer to monitor this number of price changes manually. To understand where they stand against their competitors’ prices and avoid losing out on sales, retailers need to monitor Amazon’s prices on a daily basis. Profitero is the only online price intelligence solution in the marketplace which is capable of monitoring the prices of millions of products every day with the highest degree of accuracy.”
“Today’s hyper-competitive, omnichannel landscape compels retailers to incorporate all sources of competitive pricing data in their pricing and competitive positioning strategies,” said Rip Greenfield, SVP Global Alliances & Business Development, Revionics. “Incorporating Profitero’s competitive data with our price management and optimisation solution ensures that retailers can systematically operationalize the use of this critical data to take actions that enhance both price image and profitability.”
Profitero is the leading global provider of online competitor pricing data. We enable retailers to make smarter and more profitable pricing decisions by delivering their competitors’ prices, promotions and full product assortments to them every day. Profitero works with more than 40 global retailers including Walmart-owned Sam’s Club, Staples, Tesco, Waitrose, Worten and Ocado who use us to:
- Benchmark competitor prices;
- Manage their prices and promotions;
- Attract price sensitive shoppers;
- Negotiate better with suppliers.
Profitero collaborates with leading price optimization providers including Revionics, IBM DemandTec and Blue Yonder, with Profitero’s competitor pricing data integrated directly into these solutions to provide more accurate and effective price optimization. Profitero is also in a strategic alliance with Nielsen as the preferred supplier of online competitor pricing data to their retail clients.
For more information on how Profitero can help make your pricing smarter, email sales(at)profitero(dot)com or visit http://www.profitero.com.