The challenge that the start-up Pricing Assistant has set itself since its creation in 2013 is to help e-retailers and brands to position themselves in relation to the competition. Its CEO, Martin de Charette, tells us more about this adventure.
“What a long way we have come in 5 years! Today Pricing Assistant counts 18 employees and works with major retail brands and e-retailers in all sectors (healthcare, DIY, toys, high-tech, food, etc.).
Sylvain Zimmer and I created Pricing Assistant to help Internet players to position themselves better in relation to the competition and to optimize their customer acquisition approach. For that, we propose 3 solutions:
1. Pricing and competition monitoring for e-retailers.
This solution allows our clients to monitor their competitors’ prices. We have developed a technology making it possible to save e-retailers’ catalogues and link up identical products. The aim is to be able to see where you are in relation to the competition: do the prices correspond? Are the images presented the right ones? Do competitors receive better or worse opinions for the same product?
Our clients have access to a platform, which allows them to consult all the analyses, by brand, category, and competitor. They can also create personalized alerts for all the products in their catalogue or for lists of specific products; access our analytical reporting module giving a macro vision of the market; and there is also the option allowing the client, for example, to increase the prices of all the products where the brand is shown to be the cheapest.
2. Reseller monitoring for brands
The technology is the same as for the e-retailers but the idea is to discover which resellers propose the brand’s products on the Internet, at what price, if the packaging is right, etc.? We also propose recommendations to help clients seize good opportunities: if a product is out-of-stock at a reseller why not call them to offer to resupply them?
3. Customer acquisition on Google Shopping, especially Google Search.
Pricing Assistant uses the pricing monitoring data to highlight good products. We launch advertising campaigns on Google Search and Google Shopping, taking into account the market: we highlight the products that are well positioned and avoid promoting products that are higher priced than the rest of the market.
What are the next steps for Pricing Assistant?
We want to develop the recommendation or repricing part and allow the user to make the most of their data.
We also intend to strengthen our support function for brands because they have significant requirements and we are a strategic partner for them. The aim is that they should always be able, via the platform, to analyze their positioning on the Web: on which sites can the brand be purchased? How many products are on sale? In what categories does the brand perform best? All this information is extremely important for a brand.
Finally, we want to take full advantage of our recent partnership with Altavia. Our technological DNA and Altavia’s consultancy and assistance expertise are highly complementary, which will be a bonus for clients in the future.