In the relentless pursuit of enhancing daily orders, our client faced a formidable challenge in navigating the complex landscape of pricing and assortment strategies employed by competitors. With over 550 key Stock Keeping Units (SKUs) spanning across 28+ pin codes for two major rivals, the task of daily tracking amid pricing fluctuations and assortment changes proved daunting. In response, a meticulously crafted solution emerged, addressing three pivotal needs: SKU mapping for flexible tracking, data collection encompassing crucial attributes, and analytics generating customized reports. This strategic approach not only delivered daily-refreshed insights but empowered the quick-commerce giant, to gain a competitive edge through real-time monitoring and data-driven execution. Explore how Netscribes E-commerce Analytics solutions can propel your market strategy with precision and agility through assortment price gap analysis.
Challenge
In pursuit of a strategy to boost daily orders, the firm needed critical insights into pricing and assortment strategies employed by competitors. Tracking over 550 key SKUs across 28+ pin codes for two major competitors presented a significant challenge, especially given the need for daily updates amid regular pricing fluctuations and frequent assortment changes.
Approach and solution
Addressing these challenges, a comprehensive solution was crafted to meet three primary needs:
- SKU mapping: A specialized module empowered the client to manage the SKUs to be tracked, defining categories at different levels for in-house and competitor SKUs. It offered the flexibility to add or remove SKUs for tracking as needed.
- Data collection: Based on the mapped SKU list, data collection encompassed crucial attributes such as name, category, MRP, discounts, selling price, and availability. Separate collection for specified categories ensured tracking of new product launches or discontinued assortments.
- Analytics: Leveraging the gathered data, customized reports were generated:
- Landscape reports: Providing insights into all brands and products within a category, including SKU count, assortment details, and average prices
- Pincode reports: Offering specifics on SKUs, assortment, pricing gaps, and trends for a selected pincode
- Assortment reports: Detailing unique and common assortments, SKUs across pincodes within a category
- Pricing reports: Unveiling pricing trends and gaps for select SKUs
Results delivered
Daily-refreshed reports empowered the quick-commerce player with timely updates, allowing them to:
- Monitor new SKUs and assortments introduced or discontinued within a category
- Understand competitor assortment strategies at a granular, pincode level
- Validate the effectiveness of assortments based on pricing trends, ensuring strategic alignment with the evolving market landscape
Read more: Reviving revenue and trust for a top e-commerce player with fraud management
Client benefit
Empowering the q-commerce giant with real-time insights, our assortment & price gap analysis helped drive meaning into their data-driven execution. By monitoring over 550 key SKUs and competitor dynamics at a granular level, they achieved daily agility, ensuring strategic alignment and a competitive edge.
