Dynamic Pricing Web Application for Magento ECommerce Platform
Somproduct used a mix of Magento tools for their e-commerce store and employees were tasked with researching and updating products prices manually.
When the platform grew, they partnered with us to build a custom software solution that would enable their team to automatically update products’ prices at scale while ensuring competitiveness on the market.
ABOUT THE CLIENT
Somproduct is a leading e-commerce platform trading home decorations and appliances.
It’s an emerging leader in its respective retail market, with a recent increase in its product offering and number of daily customers.
www.somproduct.ro
Industry
E-Commerce
Location
Romania
Duration
6 months
Technologies used:
THE CHALLENGE
At the time that Somproduct approached us, they wanted to build an application which allowed them to automate the product price update, which was done manually using various spreadsheet applications and calculations.
With over 60,000 products on the platform, the process of maintaining the price competitiveness was time consuming and error prone. Employees were manually tracking and updating prices, which turned out to be unproductive, especially with the company’s constant growth.
Their goal was to have a single tool which would continuously run checks to automatically update the costs, prices, and special offers based on personalized criteria.
OUR SOLUTION
We built a dynamic pricing web-based application that runs tasks automatically to achieve client's pricing automation objectives. The solution had to be efficiently integrated and synchronized with the Magento inventory.
Assuring price competitiveness for over 60.000 products
Firstly, the application performs the crucial task of customizing the product prices that the visitor sees on the online platform - somproduct.ro. This is based on defined algorithms and specific criteria that the manager creates for setting up the price. It also enables customization of special offers and temporary pricing, while maintaining the minimum desired margin.
Secondly, the tool runs periodic searches throughout the day to find the product costs and competitors’ prices, and adapts our client’s prices accordingly.
By being hosted in the cloud service like Microsoft Azure it ensures quickness, accessibility, and high availability to its users.
Key features and benefits
allows dynamic pricing and offers complete control, through providing advanced filtering options and pricing rules personalization
saves the client the inordinate amount of time that the employees would spend to track, calculate, and update prices for thousands of products
minimizes the risk of error, due to the process being automatic and completely customizable
allows better product management, holistic oversight of products, improved capability of planning, and accurate market positioning with increased sales rates.
completely replaces traditional tools such as spreadsheets, and gathers all the required functions into a single, high performing, user-friendly tool
RESULTS
Dynamic pricing is a functionality that e-commerce retailers must implement if they want to remain competitive in the marketplace.
We delivered a user-friendly and fast dynamic pricing platform that continuously scouts the web and the competitors’ offers in order to identify and update thousands of product prices according to Somproduct’s personalized criteria.
The result? Our tool saves time, reduces the risk for errors, and ensures that the displayed price is the best price to increase conversion rates and drive sales.
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