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E-Commerce Site Product Portfolio Update and Competitor Price Monitoring

case study

About the client

A multi-brand B2B and B2C eCommerce store offering office access control, security and organization products across Ireland. The client deals in branded access control RFID cards, smartcards, card readers, security cameras, key fobs and other high tech access control, employee monitoring and management products. As one of Ireland’s leading access control solutions provider, the company offers latest technology and versatile products at competitive prices.

What the client needed

The client approached Faith eCommerce to populate their web store to efficiently display the large portfolio and ensure higher sales compared to their competitors. This included monitoring product prices of the competitors, identifying competitive sliver to offer a better quote, uploading product information on the store and adjusting the prices to attract customers. This requirement was tied with a tight deadline as the client wanted the website to go live soon.

Challenges

  • With a product portfolio this huge, the task of mining product details of every single item was a humungous challenge. We had to mine complete information about thousands of products across multiple brands, and track the prices quoted by the client’s competitors, various online marketplaces, shopping portals etc.
  • Additionally, the client asked Faith eCommerce to track information about product stock, exclusive products that certain competitors are offering, and the products that the client’s portfolio does not include but are available online. This detail is not as transparent as price, making it difficult to gather.

Our solution

We gathered and united the data for all the products from all the different sources. Our team also helped the client refine the data by eliminating incorrect and irrelevant entries, and completing missing information.

The data management solutions provided to the client by Faith eCommerce included-

Amazon listing services
1. In order to deliver all-round solutions to the client, the ecommerce specialists at Faith eCommerce not only utilized their experience, but also used latest technology software suites. Our team conducted price monitoring and created a report to evaluate the competitive edge for offering best rates online. This included details about pricing, discounts, exclusive products, additional products, etc.
2. Our team also identified which products were underpriced or over-priced comparative to the competitors. Using state of the art competitor price monitoring software, our team gathered actionable intelligence that helped the client make optima pricing decisions. On the basis of this data and client’s pricing strategy, we updated the product details and price on the client’s web store.
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Results

After successful completion of our price monitoring, comparative evaluation and efficient product listing, the client experienced substantial rise in online traffic to their website. The updated prices helped the client gain a competitive advantage over other sellers, which made the client’s profitability go higher.

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