Do you still google or do you already crawl?
5 approaches for optimizing assortment and pricing in e-commerce using competitive data and AI
Standing out from the crowd of providers is more important today than ever before when it comes to global competition. The Internet is transparent, customers are well informed, and the next offer is always just a click away. It sounds dramatic, but the sheer number of opportunities is endless.
Today, the competitive offering can be analyzed faster and more comprehensively than ever before and opportunities for one's own assortment or product portfolio can be derived from it. Using crawlers, the competitive offers on large platforms such as Amazon, Zalando, Otto and Co. as well as competitor stores can be recorded automatically. Based on this data, ideas can be generated, gaps discovered, and profitable actions derived in order to continuously improve one's own offerings.
AI plays an essential role here, both in identification using machine learning, such as image comparisons and text analyses, and in identifying similar or identical items. The data generated in this way can be used to perform insightful BI analyses of assortments, prices, and competitor products down to the attribute level and, above all, to save manual and time-consuming activities.
About Sebastian Klumpp:
Sebastian Klumpp is CEO of XPLN, the premium provider of comprehensive software solutions for market intelligence. XPLN mines e-commerce data troves and reveals their riches, empowering major brands and retailers to make confident decisions about their offerings and brand positioning and maximize their performance. Their unique SaaS+ approach combines AI-based software with human expertise and data consulting to correctly interpret data and use them profitably. XPLN supports key players in diverse industries such as Calvin Klein, Tommy Hilfiger, Gardena, Euronics, Swarovski, On, Severin, Fissler, medpex, Paul Hartmann und Toolineo (E/D/E). Sebastian Klumpp himself is one of the pioneers in online and multichannel retail and he knows the challenges of the parties involved in the complex business. He founded his own B2B platform for the hairdressing trade and most recently headed up product data management at the Klingel Group.