Development Done Right the First Time
Our client is one of the leading luxury store chains both in North America and around the globe. The company retails exclusive clothing, accessories, and home products to customers in over 100 countries.
Our client wanted to strengthen their capabilities to analyze the pricing policies of their competitors to improve the effectiveness of their own pricing strategies and increase sales.
N-iX has developed a new product pricing platform that analyzes competitor product prices and provides near real-time reporting. It allows our client to effectively match the product and price needs of their customers.
Success story in detail
Business challenge: creating effective pricing strategies with accurate competitor analysis
The client was using a third-party platform to retrieve competitors’ pricing data about a variety of products. This information was used to develop their own pricing strategies and, subsequently, increase sales. However, it was difficult to expand the number of competitors in pricing reports. It also had an insufficient accuracy level because the products that were mentioned in reports matched the client’s products only by 70%. Finally, the solution did not match the accuracy requirements of our client, since it generated reports only on a daily basis and lacked real-time reporting.