4 min
Identify your bestsellers to stay competitive
Product performance
Understanding conversions, visitor numbers and product performance is crucial for product managers. PriceShape provides all the necessary insights to make your job easier and more effective.
Product performance
Performance analytics
Knowledge is crucial for decision making in pricing strategies. You should set your prices based on trends, market demands, and competitive position rather than relying on intuition.
You can integrate PriceShape with Google Analytics to see the impact of price changes, analyze performance, and act on key metrics like profit, revenue, conversions, visitors, and sales.
You can integrate PriceShape with Google Analytics to see the impact of price changes, analyze performance, and act on key metrics like profit, revenue, conversions, visitors, and sales.
Advanced product management
The right products
Our simplified status reports give you a clear overview of market price changes, highlighting top products and slow movers so you can take informed action. With insights into your competitors' stock levels, prices, delivery costs, and market reach, you can make smarter purchasing decisions, increase conversion rates, reduce dead stock, and improve margins. This pricing data also helps you spot trends and prepare for supplier conversations.
Product performance
Optimize your assortment
Imagine identifying hidden patterns within your product categories and brands, enabling you to optimize them based on specific trends. Let us set up a free demo with your products, competitors, prices, and setup.
- Find hidden patterns
- Optimize products based on performance
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83
of all online purchases are going through price comparison sites like Google Shopping -
67
of consumers are willing to buy from a webshop, that they never heard about.
Product performance
Let us do the work
Automated pricing adjusts to market demand based on your chosen pricing strategies. As competitors adjust prices, yours automatically adapts, ensuring competitive pricing to maximize profit and market share. Your products will automatically follow the chosen pricing rules to ensure the desired outcome.
Grouped by product performance
Grouping your products by performance gives you a clear overview of your assortment, making it easy to see which items are the most popular and which are underperforming. PriceShape can assist in grouping your products based on a specific gross margin, allowing you to raise prices slightly—by 1 or 2%—on high-traffic items to improve your profit over time.
Do seasons have an impact on product performance?
Seasonal trends significantly impact product performance metrics, influencing everything from sales volumes to pricing strategies. Certain products may experience heightened demand during peak seasons, while others may slow down. Understanding these trends is key to optimizing both pricing and marketing efforts.
With PriceShape, you can analyze historical data to adjust your strategy according to the season. Our platform helps you track your products' performance throughout the year and identifies which ones remain competitive during key periods. This insight allows you to focus your marketing optimization on products where you are competitive, avoiding wasted spend on items that may not perform as well.
Integrating sales data with the triangle of success
Purpose: The "triangle of success" incorporates inventory data, performance data, and competitive data to create a comprehensive pricing strategy.
Key Benefit: By combining these three quality data sources, businesses can develop more advanced strategies for pricing and inventory management, leading to better decision-making and a stronger bottom line.
Impact: Ensures pricing is aligned with product demand, stock availability, and competitor behavior.
Linking inventory management to product performance
Effective inventory management goes hand in hand with understanding product competitiveness. With PriceShape, purchasing managers can identify which products are priced competitively and which are not. For products that aren’t competitive, this information can be invaluable for reaching out to suppliers and investigating why competitors can sell at lower prices.
Using PriceShape’s insights, you can have informed conversations with suppliers, potentially negotiating better terms. This proactive approach helps you stay competitive and ensures accurate data drives your inventory decisions, optimizing product performance and profitability.
Product performance in marketing and branding
Product performance plays a crucial role in creating your brand perception. As a retailer, your pricing strategy isn’t just about being the cheapest on the market—it’s about aligning your prices with the value your brand offers. You may provide superior customer service, faster delivery, or a better shopping experience. This added value can justify positioning yourself differently in the market.
With PriceShape, you can strategically price your products in line with your brand image. Instead of always competing to be the cheapest, you can use our platform to set your prices as the 3rd or 4th lowest in the market. This allows you to maintain profit margins while still standing out for the service and experience you provide.
Customized reports with relevant insights
With PriceShape, you can create fully customized reports focusing on the aspects of product performance or management reporting that matter most to your business. Whether you’re analyzing competitive positioning, stock status, price history, or price index, our platform allows you to tailor reports to suit your needs.
These customized reports allow you to drill down into any area of product performance, helping you make informed, data-driven decisions. With the ability to schedule and automate these reports, you can ensure your team has the insights they need when they need them.
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