Prisync is a competitor price tracking and dynamic pricing software for any size of ecommerce business. It helps your business to optimize prices and maximize revenue by tracking competitors and smart market data analytics. How smart do you think it is to throw some work, time & effort (especially when it comes to pricing) into the background and do it manually! Ecommerce companies are now aware of the importance of following their competitors’ products (unlimited number) and selling them at the most optimal price. That’s is a very important and necessary. Making analysis from your category/brand performance reports will always benefit your business in profitable ways.
With Prisync;
- Define your product assortment and competitors.
- Analyze fresh competitor pricing & stock availability data.
- Maximize profits with dynamic pricing strategies.
Use various reporting options like checking your overall pricing performance from the web dashboard or go in deeper with brand and category level analytics. Get notified via email and even go further with our API.
Prisync makes all these tracking steps easier for you. You can follow your daily checks from a single dashboard. No need for an integration or any tech-heavy setup. Experience the power of a pricing software in minutes and get all the data you need in order to optimize your business decisions. You’ll always have access to fresh pricing data, 3 times a day.
Tracking price for competitive pricing intelligence is no longer a tiresome, expensive, and unsound data operation for you anymore with Prisync. Do intelligent pricing with Prisync’s automation.
Now’s time to get into more detail. Do you know what the category/ brand performance analytics feature of Prisync is? If you’re selling electronics or any other category, with Prisync’s software, you can get a detailed report of your products. Not only your specific category but also your brand analytics are analyzed too. See your performance in your market and get action with it. Your positioning creates a big role while deciding on your pricing strategies. All of our customers tell us that, especially in holiday sales seasons, Prisync’s price notifications and category/brand performance analytics make them profit huge amounts.
Category Performance Report
A comprehensive category analysis of your competitors or online sellers can show you which products they sell across various categories or brands and also price points & price index data. You can see your position in your market and check if your products are priced on cheapest, average, or highest.
You can see if your prices are equal to your competitors & matching prices. If you want to be the cheapest just directly change your price the second you get the price change notification of the Prisync engine. Stay dynamic to rule your price decisions to act strategically.
The analysis lets you compare them vs. your own category/brand so that you make sure that you have the most demanded products always in stock with the smartest and most profitable prices.
Brand Performance Report
In brand reports, you can systematically see the breakdown of all your brands’ performance according to their index values in the market. The index value is calculated by dividing your price for that specific product by the average price in the market and multiplying by 100. With this way, it is easier to see your market position overall. You can benchmark versus your competitors so that you can see which of your brands are relatively cheaper.
In the details, each of your brands’ performances bar. For example, in the above, you can check Apple’s 23 products’ index values & market position. After you click the details button, in the below, you get a dashboard with site breakdown analysis and price positioning graphs. Nintendo has an average position in the market with a 97.35 index value.
As you can see in the chart above; the overall pricing performances of your competitors in the most competitive marketplaces such as Amazon, Target, Walmart, or any other specific marketplace you choose is available to see for the same Nintendo products by analyzing their index values. Match rates and product numbers also appear in the dashboard. Also, those values can be analyzed historically by the chart with each website’s pricing index values.
Category reports have an exact mentality and it groups the products under the categories you define. It provides the same reporting as the brands do. Dashboards allow you to compare your overall position in the market in an easy way.
Category/Brand Performance Analytics in Details
Index information in your panel is giving you a quick review for the comparison of your prices to competitor prices. Think this way: the average price equals 100 in the index value. Prisync’s engine calculates the index value of a product by dividing the price of that product by the average price for that product in the market and then multiplying it by 100.
Let’s say your index value is 90. This means that the prices of your products are 10% cheaper compared to the average of the price of your competitors in the panel. You can check your index values from excel exports, brand/category reports or from the overall dashboard.
Category/brand performance analytics allows you to see details such as who your closest competitors are and who are losing sales compared to other sellers.
Like some of our users, if your competitors are selling similar products at a much lower price, you can talk to your suppliers and adjust your payments accordingly.
For example, you sell a product at $140, and your competitor is selling it for $100. In addition, you are buying your products from the supplier at $120. At this point, you can talk to your supplier and ask to buy the products at lower prices.
Brand reports have a nice added value at this point. Because unlike the dashboard, it gives the index on the basis of the brand and the price range becomes more visible.
This way, it is easier to have control of your pricing. If you want to match your prices with competitors or set dynamic prices , you can check analysis on your dashboard provided by Prisync software.
Summary
Reliable, actionable data is essential for all retailers in order to calculate important metrics like pricing, competitor tracking and revenue. These factors directly determine where your business can allocate valuable resources, which directly impacts future success. Prisync’s main goal is to help ecommerce companies to manage their pricing strategies in the smartest & simplest & profitable way. Prisync’s category/brand performance analytics feature lets you have the power of meeting your business objectives. Focus on specific brands or categories you specified and take control of your pricing.
prisyncprisync feature
