Situation
For retailers, it is key to keep a competitive edge when selecting the right price for their products. One of the factors influencing this decision is the price competitors selected for their products. A global retailer was looking for a partner to develop a solution that would support this process by monitoring the pricing of similar competitor products.
Approach
Valcon developed a cloud-based solution that monitors competitor products and service information from (e-commerce) retailers around the world. The solution consisted of a data acquisition module to obtain product information, processing and matching models driven by data science techniques (CV, NLP, etc.), and user interfaces to assure product matching quality and present relevant pricing insights.
Results
The solution will enable our client to (semi) automatically generate an assortment to match on a global scale, generate insights on the pricing landscape of key competitors and define/refine pricing strategies leveraging deeper and more tailored competitive insights.
