How do I exclude preloved retailers from the analysis?
It is important to have the right benchmark when you want to compare your brand or your products with competitors on the dashboard. Comparing your brand new collection, for example, with preloved or pre-owned items won’t carry the same weight. This is even more apparent as some retailers such as Zalora list pre-owned luxury brands […]
How do I do SKU matching to spot opportunities?
It is important to have a competitive assortment especially when you are a multi-brand retailer and might list the same brand with other retailers. Competitor Benchmarking allows us to compare two or more retailers, where you can analyse the SKUs listed from various categories. Step 1: Get the filters right i.) Set the timeline according […]
How do I do price matching to spot opportunities?
Constantly doing price benchmarking in the market will not only maintain competitiveness, but it also allows you to set effective pricing based on demands. By mapping the market’s current brand positioning, you can easily identify potential opportunity gaps to tap into. With the Retail Analysis: Price Distribution tab in the Competitor Benchmarking module, you can […]
How do I do price matching to stay competitive?
It is important to have competitive pricing, especially when you are a multi-brand retailer and might carry the same SKU as other retailers. Competitor Benchmarking allows us to compare two or more retailers. Here, we’re using Retailer Analysis: Price Distribution to compare pricing from different retailers. Step 1: Set the timeline according to the product’s […]
How do I review price sensitivity over discount launches?
To plan better sales, it is important to monitor the effectiveness of any promotional activity. Here, we analyse the seasonal Sale that Zara launched last June as a case study. Step 1: Identify the discount period Using the Calendar module, we can identify when a retailer launches discounts on a monthly basis. From the chart […]
How do I identify primary competitors?
In this competitive market, you have to remain relevant to beat the competition. By analysing your primary competitors, you can gain more insights into what your target market is looking for. In this article, we will guide you on how to identify your primary competitors to keep track of market players. Step 1: Identify key […]
How do I identify secondary competitors?
Once you know your primary competitors, you need to then look into your secondary competitors. More often than not, brands only pay attention to their primary competitors, because there’s an assumption that others won’t have a big impact. But in today’s increasingly fast-paced environment, your secondary, distant and indirect competitors can be your direct competitors […]
How do I review competitors’ strengths and weaknesses?
In all businesses, keeping track of competitors’ positioning and performance in the market provides insight into the retailers’ ability to pursue various strategies. Analyzing the primary and secondary competitors’ and identifying their Strengths, Weaknesses, Opportunities and Threads (SWOT Analysis) help determine target markets, marketing strategies, sales forecasting and sales planning. The Competitor Benchmarking module provides […]
How do I analyse what is currently in demand?
Building a successful product range requires a deep understanding of consumer demands. In today’s competitive landscape, knowing what consumers want, how they want it and at what price is crucial to generate sales. The Overview tab in Competitor Benchmarking allows you to review the available products in the market before drilling down to specific retailers […]
How do I validate performance for patterns?
Staying on top of the trend cycle is necessary to sustain an optimal level of newness in your assortment. In this help article, you will learn how to validate the performance of trending patterns and how to incorporate them in your assortment plan. In this article, discover how to validate performance for uptrending patterns. Step […]