Analysis from price intelligence firm Profitero reveals that Amazon.com implements more than 2.5 million price changes every day, compared with just over 50,000 total price changes that were made by brick-and-mortar retailers BestBuy and Walmart throughout the entire month of November.
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.
|Amazon.com has increased the number of daily price changes 10-fold|
|Best Buy made a total of 52,956 price changes during November|
|Walmart made a total of 54,633 price changes during November|
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 at 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.”
Discover how Profitero delivers critical online pricing intelligence to more than 40 global retailers so they can provide the most competitive prices in the marketplace. Email us at email@example.com or visit www.profitero.com to ensure you price right this holiday season in order to grow sales and increase margins.
|Profitero.com: Web based competitor price monitoring for retailers and brands|
Profitero is the leading global provider of online competitor pricing data. We enable retailers to make faster and smarter pricing decisions by delivering their competitors' prices, promotions and full product assortments to them every day. The world’s top retailers, including Staples, Sam’s Club, Tesco, Waitrose and Ocado, use Profitero Price Intelligence 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.
To discover how Profitero can help make your pricing smarter, contact us at firstname.lastname@example.org or visit www.profitero.com.