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 season

Here, we set the date range from April to June 2020 to identify products from the Summer ’20 season. 

Step 2: Select the brand and retailers you want to benchmark

Here, we compare Nike’s pricing in both retailers Zalora and Asos. We also included the gender Men and subcategory Activewear Shoes to narrow down the search.

Step 3: Key in the product name in the keyword

With the keyword function, you can further drill down to specificity. 

Step 4: Identify the median price and price spread of the particular product between two retailers

Here, we can see that Nike Air Force can be found in both retailers, but in different median prices and price spreads.

Keep scrolling to Price Breakdown by Retailer table to identify products in each price bracket between both retailers

Deep dive into each price bracket to compare the SKU’s price.

Here, we can identify that Nike Air Force 1 ‘07 sneakers in White registered at a different current price in both retailers.

Zalora listed the SKU at SGD 159.00, and according to the Price History, it has never been discounted.

But in Asos, the SKU has been registered at different price points. 

Key Takeaway

As a multi-brand retailer that may list the same brands as other retailers, it is important to regularly run a price matching exercise. Customers will always opt for the best price – so it’s imperative to do so to stay competitive in the market.

Hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.

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