Dynamic Repricing for online merchants
What is dynamic repricing?
Dynamic Pricing is a pricing strategy where the price of your products is automatically adjusted based on pre-defined rules. With a dynamic pricing strategy, for example, you can ensure that products are always €1 cheaper than those of your competitors, as long as the minimum margins are still maintained. Dynamic Pricing helps you stay competitive and increase your sales while maintaining your minimum margins.
emarketing’s Dynamic Repricing calculates the optimal sales price for each product and sets it in the shop backend. The sales prices of competitors on Google Shopping and Amazon are used for the price calculation. In addition, the performance data of the products from Google Ads are included in the calculation. The profit per sold product is optimized by continuously monitoring the results of the repricing and ongoing adjustments.
Unlike most repricing tools, emarketing’s Dynamic Repricing offers different strategies that can be chosen per product. The goal is not always to offer a product at the lowest price, the main focus is on maximizing the profit to be made.
In combination with Smart Filters, which can be used in the emarketing account for product selection in a Google Shopping or Facebook/Instagram campaign, Dynamic Repricing is the perfect solution for any online retailer who wants to stay ahead of the competition automatically.
Once the products to be repriced have been selected, a smart filter can be used, for example, to promote only those products in a Google Shopping or Facebook/Instagram campaign that are offered at a competitive price. The unique combination of these performance tools ensures sustainable success and high margins in online retailing, especially in highly competitive industries.
To use Dynamic Repricing, the appropriate emarketing plugin must be installed in the shop system.
NOTE: A separate plugin exists for repricing, it cannot be used via the emarketing datafeed plugin.
Availability of the Repricing plugin
The Dynamic Repricing Plugin will be provided for the following shop systems and will be available towards the end of the 2nd quarter of 2020:
- Magento (M1 & M2)
- Shopware 5 (not yet available in the Community Store, if you are interested in repricing please contact our support via the chat function)
- Fully automated, continuous repricing based on price comparison data and product-related performance data
- Intelligent algorithms for different requirements maximize the profit per sold product instead of just setting the lowest price
- Synergy effects when using additional performance tools from emarketing: campaigns on Google and Facebook/Instagram only advertise promising and competitive products
- Full transparency: Dynamic Remarketing offers numerous charts and statistics to assess success
- Individual selection of products to be covered by repricing
- Undo function: The initial price that was used in the shop before the repricing was activated is saved and can be restored at any time.