Pricing Platform
Leading Online Retailer Automates Pricing and Enhances Competitive Insights
Client Profile : Leading E-commerce Marketplace in Europe
Challenges
Managing pricing across millions of SKUs was becoming increasingly complex for the client. The lack of real-time insights into competitor pricing and market trends made it difficult to stay competitive, particularly during high-traffic sales events. They needed a solution to monitor over 8 million competitor products and automate pricing strategies across 30+ categories while safeguarding margins.
Solution
Flipkart Commerce Cloud’s pricing software empowered the client with dynamic pricing capabilities. By integrating AI-driven pricing workflows, the client could automate pricing adjustments, track competitor activity in real time, and maintain an optimal pricing strategy across multiple product categories.
Result
The client achieved 70% automation in pricing workflows, tracked over eight million competitor products across nine competitors, and monitored 210,000 SKUs in real time. This resulted in improved pricing agility and enhanced competitive positioning in the market.
How can real-time pricing automation drive business growth?
In the highly competitive e-commerce landscape, pricing plays a pivotal role in influencing consumer decisions. Without a scalable and efficient pricing strategy, businesses risk losing customers to competitors who leverage real-time market insights for dynamic pricing.
The client struggled with manual price tracking across multiple product categories, making it challenging to adjust prices in response to market shifts. With 280.4 million SKUs on their platform and over 100,000 active merchants, staying competitive required a more agile and automated approach.
FCC’s pricing tool enabled real-time tracking of over 8 million competitor products and SKU performance insights. The automated system configured 400+ pricing rules across 30+ categories, achieving nearly 70% pricing automation. This allowed the client to adjust prices dynamically based on market insights and competitor activities, ensuring they remained competitive during critical sales periods like Black Friday.
The solution also provided a centralized dashboard that tracked price movements, category-level performance, and competitor trends, empowering the client to make data-driven decisions quickly. By leveraging accurate, real-time data, the client could maintain competitive pricing strategies and enhance profitability.
Impact
With FCC's optimized pricing strategy, the retailer gained a competitive edge, improved efficiency, and enhanced profitability. Real-time tracking of over 8 million competitor products and automated pricing workflows allowed them to respond to market dynamics faster and maintain sustainable pricing practices.
The centralized dashboard enabled the client to make data-driven decisions, resulting in better margins, streamlined operations, and improved strategic decision-making. With TRY 36.61 billion in gross revenue for the first 9 months of 2024 and 12.1 million active customers, the client witnessed substantial business growth.
