Competera
Addressing the Most Complex Pricing Challenges

Automation makes repricing at least 50% faster while reducing the risk of human mistakes. As any changes in data occur, the repricing of a product group can be done either in real-time or processed in batches. A user-friendly interface with optimized workflows will save time and reduce the efforts of every stakeholder involved in pricing.

Singapore-based Competera provides it. Competera’s industry-agnostic solution is suitable for online, offline, omnichannel, mono- or multi-brand retailers. Offering a comprehensive pricing platform to save costs, recover profits and meet new shopping patterns with the help of a sophisticated market-driven engine, Comptera ensures short-, mid- and long-term growth. Additionally, the company’s solution offers a combination of assets to navigate retailers to optimal prices and help them cut expenses and maximize their financial performance.

In the times of the “new normal,” price becomes one of the essential parts of efficient communication between the retailer and the consumer. 60% of customers choose products based on their price. Competera has helped Elkjøp—an omnichannel consumer electronics retailer in the Nordic countries, prevent losses by switching businesses from outdated pricing approaches. According to the most recent report, Elkjøp claimed a record Nordic market share, turnover of 41.3 BNOK, and profits of 1.343 of MNOK.Driven by the mission of helping everyone enjoy unique technology, Elkjøp is well-known for its rich assortment of consumer electronics goods which accounts for more than 200,000 SKUs in the Nordic countries. Since Amazon was poised to become Elkjøp’s direct competitor in consumer electronics products, a retailer chose to measure swords with the eCommerce heavy-weight and started preparing for its market entry. To sustain the competition with Amazon Sweden and remain the Nordic consumer electronics market leader, it was vital for the Elkjøp team to keep the prices competitively lower and increase sales volumes. The strategy required gillions of quality, competitive data points in real-time.

But here was the challenge—the local competitive data provider that Elkjøp used was delivering data for only 42-45% of the retailer’s assortment and could not scrap prices from Amazon and its sellers. The data insufficiency made the retailer search for a partner to collect broader data scope and scrape Amazon prices. Competera’s team built the PoC project within a week and performed the solution test on Amazon Germany, which owns about 30% of the regional eCommerce market. This stage enabled the team to make necessary adjustments and set the stage for price scraping from Amazon Sweden right after its launch. Having considered the specifics of Elkjøp’s product range, the team integrated the fields from the client’s product feed and enhanced the dashboard with the custom ones. Although the date of Amazon Sweden’s launch was a closely guarded secret, it still did not catch Competera and Elkjøp by surprise. After the retail giant launched its marketplace in Sweden, every hour counted. It took Competera 8 hours to switch from Amazon Germany to Amazon Sweden and scrape its prices for 46% of the assortment monitored by Elkjp.

This is but one among many success stories wherein Competera enabled its clients to reinvent their processes and achieve phenomenal results. The company is already collaborating with industry-leading organizations like Foxtrot and Intertop, helping them further boost their bottom line metrics and sustain the correct price perception through optimal price recommendations. In the upcoming months, Competera plans to introduce its leading-edge robotic automation capabilities in the APAC markets. The firm will also invest in augmenting its proprietary technology to add new features for the benefit of its clients.