New technology that aims to help online retailers make sure their prices stay competitive has been launched.
PriceOptimizer.com aims to reduce the time that retailers spend making sure their prices are in line with the prices, promotions and stock levels offered by competitors.
Jimmy Chotoveli, of PriceOptimizer.com, said retailers who offer several thousand products on their website could find the task of frequently monitoring competitors’ prices very time consuming, and this provided an answer to the problem.
Using the PriceOptimizer technology, the user uploads its product page URLs and maps them against competitors’ product pages. Data is then delivered in a matrix that provides the user with an overview as to how competitive their prices are in the marketplace.