Watching the competition

Trade

Knowledge is power: Profitero says its service takes the sweat out of marketing intelligence

Competitor monitoring is a key element in successful price management for online and offline retailers.

Such observation can include tracking competitors’ prices, stock availability, new and delisted products. Since it can involve monitoring multiple competitors and hundreds or even thousands of products in-house, it can also be time-consuming and expensive.

Now there’s a web service that does the hard work. In addition to automatically monitoring a client’s online competitors’ information, Profitero claims to benchmark each client’s product against their competition and empower retailers with accurate and timely relevant data with which retailers can “set their prices and increase sales”.

Profitero says its alerts service lets their clients know when their prices are too low or too high, adding that this data-driven insight gives retailers the opportunity to react to competitive price changes as they happen.

Profitero says its system “allows retailers to attract more customers with better offers and lower prices than their competitors”.

The firm says its service gives client retailers “visibility into competitive information on thousands of products and dozens of competitors.”

Profitero is a winner of the European Seedcamp 2010 competition and winner of the Irish Innovation Cubed 2010 award. It is supported by Enterprise Ireland.

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