The future of e-commerce pricing is dynamic Learn how to grow your business with agile and data-driven dynamic pricing
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Dynamic Pricing is a fully automated system, which analyzes your competitors, data and automatically adjusts your prices based on the pricing rules you have decided. By applying Dynamic Pricing to your products you are guaranteed to stay competitive and increase your sales, while making sure to protect your minimum margins.
Monitoring your competitors’ prices, stock status, and pricing history is the foundation for implementing dynamic pricing in your e-commerce store. Once we’ve scraped and collected all relevant and available data, you can use your new insights to make decisions and build your pricing strategy. The collected data will be available in your personalized dashboard. Here you’ll find the options for creating pricing strategies that help you manage your product prices, adjust to your competitive landscape, and sell your products faster. The options for pricing rules and strategies are close to endless, and we always help establish a baseline of rules that makes sense for your business. Our customers use different dynamic pricing strategies. The more common options include:
If you have a strong brand, an extraordinary service, numerous stores, cheap delivery, etc. you may be able to ask for a higher price than your competitors. By working with competitor monitoring and dynamic pricing, you can optimize prices and earnings based on facts, which is essential in a world where price transparency is constantly increasing.
Create different dynamic pricing strategies across your products, brands, and categories. PriceShape optimizes your prices automatically based on your pricing rules.
Which domains do you want to include in your strategy?
Do you want to be more expensive or cheaper than your competitors?
What should your minimum contribution margin be?
Do you want to follow competitors who do not have the item in stock?
Which products, brands and categories should be tied to the strategy?
Do you want to set a specific time period for the strategy to be active in?
According to Price Rules
The pricing bots find all the competitors selling your products. However, it is not a given that all competitors selling similar products are relevant for comparison purposes. Perhaps you have physical stores and can provide extra services such as click and collect or free returns so that you only want a comparison with other retailers who also have physical stores.
It might be that the products you sell require more trust from the consumer and that you only want a comparison with other online retail businesses that you see as the closest competitors. Therefore, it is important to find a system, which can adapt these filters to your specific business needs, and not set general rules for all products and competitors. Your pricing strategies can always be further customized if you wish.
We’ve helped many businesses grow and increase their market share by being agile in their pricing.
+200%
We’ve seen massive increases in sales and revenue from our clients.
96%
Being priced correctly and using our custom labels in Google Shopping, is a game-changer for e-commerce businesses.
6x
Our customers have seen increases of upwards of 6x, their monthly revenue.
“Price is one of many factors that determine whether customers shop online with us at Salling Group. We want to have an overview of market prices so we can make sure we are competitive. PriceShape helps us to create that overview and match the prices correctly against our many products. Data quality and speed are fundamental for us to get a real picture of our competitive position. We are therefore pleased with our good collaboration with PriceShape.”
Claus Hovge Andersen
Claus Hovge Andersen, Head of Digital, Salling Group
“Since we started using PriceShape, we have doubled our ROAS and increased our revenue on Google Shopping by over 200%.”
Charlotte Frandsen
Charlotte Frandsen, Owner, By DahlLiving
“We always strive to be competitive at BabySam, so PriceShape has become an indispensable tool with regard to our pricing and especially our marketing.”
Dennis Sertkan
Dennis Sertkan, E-Commerce Manager, BabySam
“PriceShape enables us to obtain data on product prices and therefore save huge amounts of time. The price data is valuable when we need an overview of the price situation in the market and can also be used retrospectively to assess sales performance. The system works quickly and flawlessly and is a pleasure to use. I’m a big fan of PriceShape.”
Frederik Nielsen
Frederik Nielsen, Founder of avXperten
“At Ønskebørn, we always try to give customers the right product at the right price – PriceShape helps us keep our prices competitive without us having to monitor the market ourselves.”
Nicki Daniel Jensen
Nicki Daniel Jensen, Webshop and Marketing Coordinator, Ønskebørn A/S
“At A.O. Johansen, we find that the price of our products is an essential factor in maximizing our sales through our B2C webshop. That’s why we use PriceShape’s software to automatically adjust our product prices, which also saves us a lot of time on manual work. We have been working with PriceShape since July 2019, and during this period we have seen a significant increase in revenue from our B2C webshop.”
Sebastian Vikkelsøe-Engelbrecht
Sebastian Vikkelsøe-Engelbrecht, Digital Sales Manager, A.O Johansen A/S
“We have expended a lot of energy over many years gathering competitors’ prices in the industry. Most of the time, it has been hard to get data of a usable quality to base decisions on. That is why we engaged with PriceShape, as we found their tool to be very time-saving and efficient. Since then, the quality of our data has improved significantly, and it can now be used as a basis for decision-making. PriceShape ensures that we have a quality-assured overview of the price situation in the marketplace.”
Jesper Dietz
Jesper Dietz, Head of Pricing & Development, STARK
Read about the opinions of our customers
Dynamic pricing is a well-known term from various industries that have been using this specific product pricing model, for a long time. For Airline companies, concert tickets, etc. it just always made sense to have the prices changing on the fly – meaning they change depending on the availability of the offer. This model has now arrived at the e-commerce sphere, and we’ve broadly accepted it as a part of the modern Martech-stack, for obvious reasons. One of them is the possibility for businesses to change their price positions based on their competitors’ prices, inventory status, and price history. Doing so will mean more precise and correct price positions, based on the market situation. That’s what Dynamic Pricing is all about.
You can apply dynamic pricing in all countries.
Your product prices are updated at the interval you decide. It’s common to have it set to once a day, but you can get it every hour if needed. Our success managers will give you recommendations, based on your chosen strategies.
There’s no limit to how many dynamic pricing strategies you can have – so feel free to create as many as you wish for.
Get competitive through accurate competitive data and dynamic pricing.