The latest international events – pandemic, war, inflation and economic slowdown – make all economic slowdown – make all price forecasts obsolete. It is very difficult to predict the price of products in the medium term. Curves are breaking, tables are charts are breaking down, past models are no longer usable. Faced with this (r)evolution of paradigms and this price waltz, the daily competitive intelligence allows you to find your bearings and stay on track. In this article, we will see how the current situation is exceptional and how the best tool on the market can help you.
For brands, a pricing headache.
It is becoming hazardous to predict the prices of materials in the DIY sector, decorative items, food It is becoming hazardous to predict the prices of materials in the DIY, decorative and food sectors, as the impact is so multi-layered. The rise in gas prices, for example, has a direct influence on the price of tomatoes grown in greenhouses tomatoes. The price of wheat and maize is also rising, dragging down the entire food sector. food sector. The price of oil is also rising, and this is in addition to a revolution in logistics revolution following the Covid waves, implying a rise in transport costs at all levels… And these are just a few examples. All these data all of this data is turning business models upside down. Cash flow is the first to be affected. The pricing strategy and the marketing mix are under pressure.
For retailers, limited room for the process
At the end of the chain, retailers are faced with customers who are increasingly price conscious. The increase in prices has only increased a phenomenon that has been widely observed in recent years. Thanks to their smartphones, consumers are informed about the price of each item in real time. The current financial stress has further hardened this trend, leading to increasingly aggressive commercial practices practices in its wake.
An uncertain future.
Who can predict the next change of pace? Not even the OECD, which stated in its March
2022 report: "the economic impact of the conflict is highly uncertain and will depend on the
duration of the war and the responses of states". It is therefore now real time observation of
the markets that should be prioritised in defining its tariff policy. pricing policy. Competitive
intelligence provides benchmarks, but it is still necessary to have access to reliable, complete
and synthetic information. reliable, complete and synthetic information.
The importance of keeping up with the market.
While it is important to keep the balance between price point and profitability, it is no less important to be fully aware of the pricing trends in the sector in order to stay to stay in the race. Competitive intelligence is at the heart of the strategies. However, in the face of constantly changing raw material prices, prices are running amok.
We have observed a significant increase in daily price changes. All sectors are impacted by this impacted by this market turmoil. Pricing strategies are now being challenged every day.
Retail Shake, real-time price monitoring.
Retail Shake offers a solution that scrapes competitive data on a daily basis, including price data from hundreds of retailers and thousands of brands. Without any special equipment, on your current desktop computer, you can benefit from the Retail Shake solution tomorrow.
The data is cleaned by our experts on a daily basis to ensure optimal reliability. Our team is at your disposal for a personalised follow-up, the activation of targeted functionalities and the resolution of problems as soon as possible. as soon as possible.
How to refine your pricing strategy, concretely.
In the Retail Shake tool (online or via the app), you are taken to a tab called your brand.
This page immediately displays the top price, which allows you to check your performance.
You can export them to Excel or CSV if required. With one click, you can also see the price differences between brands and even a list of brands where your products are sold. even a list of the stores where your products are the most distributed by price. All this pricing information is also available for your competitors ; products.
Retail Shake displays the competitors who sell the same product as you and the corresponding and the corresponding prices. Price differences between you and your competitors are shown. You can see your price positioning very quickly. For nearby shops where the product is available, you have the mention shop.
You can thus detect where your performance and that of the brands in the sector are in real time to refine your pricing strategy.