To help small, medium and enterprise-sized online retailers learn more about their competition so they can sell more units by staying price-competitive, and increase margins against major online threats like amazon.com.
In the retail industry, staying competitive means having continuous knowledge of competitor’s prices, products and promotions. The online retail market is very competitive. Amazon has mastered online ecommerce, and typically sells their products more quickly with faster shipping times. For retailers, knowledge of changes in the market landscape allows for quick and strategic action to better grow and protect their position in the market.
A large UK retailer approached Liberty Metrics with a business challenge. They needed an online competitive solution which compares prices across 20+ competitors. Without specific SKUs (stock keeping units), tracking thousands of products and their corresponding prices can be challenging. We needed to find an alternative way to compare products.
Liberty Metrics Solution
Liberty Metrics created a fully customizable report to scan and compare the customer’s products against their competitors’ products. The solution runs a comparison search algorithm against both lists, providing similar descriptions and titles to determine comparable products. If applicable, product quantities/units are converted, and the price difference is provided. Built-in, fault-tolerant technology instantly notifies us when their website or the HTML changes and a fix is made within a couple of hours. Technically, the biggest challenge is trying to match products, but if there are unique identifiers on their website, we can match against that. Even if there isn’t, we can match using the name and other product-specific identifiers.
We provided the customer with a seamlessly integrated and constantly running business feed. In an hour we can search 500,000 product pages. We can do that as often as needed, and the report is updated on a daily basis. The customer liked working with us because we are small and our service is fast and flexible.
Our web site monitoring and analysis tools help our clients increase profits by marking down certain overpriced products. We can scan and compare their product pricing and shipping times with those on amazon.com or other online retailers.
The Liberty Metrics Advantage
- Experienced: Not only are we technologically savvy, but our subject matter experts talk to our customers in their own language because they have worked in their industry. They take the time to research and understand specifics.
- Customizable: Typically, online travel agencies usually have a data set that they use for everyone. However, our clients are looking for a custom solution, and that is what we provide. Our technology provides data extraction agents that we build and customize according to customer requirements. Working with Liberty Metrics is painless and simple – and our customizable platform puts us ahead of our competitors.
- Cost-effective: Every time we can work on the same website for more clients it expands our data set. We are always learning from what we’ve done and improving the solution to help our customers save money.
- Personalized Service: Customers get a project manager, an architect and a lead engineer who seek to add value to every step. We are versatile and build the solutions around customer needs as we go along. We can scale out for big projects in a short timeframe.
- Fast and Reliable: We simplify the whole experience from beginning to end. We handle all the technology. People want to work with us because we offer reputable, reliable service that gives them a competitive advantage.
More Case Studies
A company known for having more physical stores than any other pharmaceutical retailer approached Liberty Metrics for a solution to monitor competitor store locations across the United States.
eCommerce & Retail - Competitor Store Location Intelligence
A sales division within a large US pharmaceutical company approached Liberty Metrics looking for new ways of generating leads. Their current method was too generic with less than 1% conversion.
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A large travel agency approached Liberty Metrics to match prices with competitor online travel agencies. Their business challenge was to improve their competitive standing and increase market share.
Travel & Hospitality - Competitive Intelligence & Pricing