Challenges: Maintaining competitive pricing, low sales, and customer retention, manual price tracking
Solutions: Automated competitor price monitoring. Prisync’s daily email reports provide a seamless way to track price differences and adjust prices in real-time, relieving you from the burden of manual tracking
Key Metrics: 20+ years in business, approximately 20,000 products
About the Client – Jan Sotona
John Nell is a family-owned business in the Czech Republic specializing in selling prams, car seats, children’s clothes, and accessories. Established in 1992, the company is now managed by the second generation, Jan, who took over from his parents. With two physical stores, two shops, and a webshop, the company has around 15 employees and stocks approximately 20,000 products.
Before Prisync
The primary issue was that competitors were undercutting prices, and it sometimes took weeks for John Nell to notice. Jan explained, “People were coming to our shop, using our services, and then leaving without buying. We found out later that competitors were significantly dumping prices on those products.” This price dumping was causing them to lose customers who were making use of their physical stores but buying products elsewhere.
“So, Prisync helps us to know when the prices are different than we’re supposed to be and adjust those prices or simply do something about it so we don’t lose the business.”
After Using Prisync
Upon discovering Prisync, John Nell was able to automate the monitoring of competitor prices. The company primarily uses Prisync’s daily reports to track price differences and adjust their pricing strategies accordingly. For instance, when a competitor significantly lowered the price of a popular stroller, John Nell was able to adjust their prices in real-time, preventing potential customers from going to the competitor. Jan stated, “We get emails with the price differences every day. Our webshop team controls it and adjusts prices accordingly or discusses the next strategy with me.”
Since implementing Prisync, John Nell has been able to respond more swiftly to competitors’ pricing strategies. While they have not conducted formal measurements, Jan acknowledged that Prisync has contributed to increased sales. However, they have also noticed a reduction in margins as they adapt their prices to stay competitive, showcasing the adaptability and agility Prisync brings to your business. “It’s hard to tell if we would have sales if we didn’t use it” Jan admitted, but the ability to monitor competitors’ pricing has been invaluable in making informed decisions.
Why Prisync
John Nell chose to implement Prisync because it provided a much-needed solution to a critical problem: price monitoring. Before Prisync, Jan and his team had to manually check competitors’ websites, which was time-consuming and inefficient. Prisync’s automation and daily reporting made it easier for the company to stay on top of market trends and adjust their strategies accordingly. Additionally, the tool’s simplicity and effectiveness have made it an integral part of their daily operations.
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