Getrealprice has been dealing in internet price monitoring for over 6 years, and for our opinion yet just few companies know what internet monitoring is and how to handle it by 100%. At the same time, our company, Getrealprice, has been constantly launching new products and instruments created with regard to present and future business demands. The solutions are specific, simple and understandable. You can get similar solutions from consulting companies but in our case, the difference is that direct solutions by Getrealprice offered to Your company will be autonomous, understandable and fully controllable both in administrative and financial aspects.
Lately, Getrealprice has started operating on foreign markets, and in this article, we suggest getting acquainted and invite You to visit us in Moscow, Russia’s beautiful capital where the central office of Getrealprice is located. In order to make Your trip both entertaining and educational, we have prepared a 2-day training program with unique information about the real number of products sold on the Russian internet, and whether it is worth considering it for the expansion of Your brands.
Products in this longread article
Among other things, in this article we offer 7 products for Your business growth. They are highly demanded on local market and we see their potential on World’s market. The products are related to pricing and product range management. We will also describe new products, the use of which can help businesses eager to develop further to make up their minds regarding possible sources of their growth in 2019-2020.
First of all, let us clarify terminology. Here at Getrealprice we believe that business development means adjusting to accommodate current market changes and launch new solutions. These new solutions need to be genuinely new, initiated by the company, rather than copied out of principle “others have it, so we need it too”, and the company must not fear the responsibility of taking initial step for the proposed innovations.
1. Price monitoring (How to sell at competitive prices every day)
There are many definitions of price monitoring, as each person puts their own sense and depth of understanding into the process. We suggest simplifying things and consolidating all types of monitoring into 2 options:
- Information supply: Price monitoring – obtaining data regarding prices;
- Product supply: Price monitoring – obtaining data regarding prices and facilitating a business process allowing to determine how to work with this data.
In the first case, Getrealprice performs regular price updates in all you-are-interested-internet stores to match the levels of specified countries, cities and stores and presents data in form of a comparison to enable our clients to make their own decisions regarding the pricing for each specific product.
Also, the client can independently define their policies for product availability, delivery terms and their presence in various cities. By the way, price dispersion across the cities of Russia are still significantly high for some product groups
- top-100 products;
- each category;
- each brand;
- new products;
- products without direct rival products (so-called “me-too” products).
It seems like there’s nothing new here, but monitoring and auto-pricing systems operate efficiently and reliably in Russia only in around thirty large companies, which are currently cooperating with Getrealprice. In our view, this is caused by the depth of approach and quality of coordination with contact persons – our company pays a lot of attention to these factors during our client cooperation.
2. Product range monitoring (What and when to sell at competitive prices, which products to purchase and which to avoid)
In order to compare product ranges of various retailers on categorial level, 6 years ago one needed literally to “go shopping” and make records about products. Let’s say this is not a very efficient solution considering expenses, precision and promptness. Thus, here at Getrealprice we have designed and adopted a system for rival product range classification allowing to bring all products from various internet stores to a “common denominator”, the role of which is played by the categorial classifier of the client.
With this solution You have access to the daily updated data on the levels of categories and all products within these categories, and You can see the complete picture of the whole Internet.
Under the hood of the system is daily labor of around ten Getrealprice human-operators, checking and putting products on the relevant shelves of client classifier, allowing to take prompt and precise decisions for every product item of one’s range on operational level and stay a step ahead of other market players. And on the strategic level, one get ability to evaluate the dynamics of product movement immediately at categorial level and in the context of any number of retailers from monitoring data, promptly explain the movement and accommodate. And also stay a step ahead in your tactics.
This picture with compared product ranges is additionally completed with a system for profitable range tracking. The number of products on the global markets today is huge and exceeds any reasonable limits of the range of average internet stores, however in some cases, the assortment cannot always be the same. New products appear: how to understand which ones to adopt and which to reject? Getrealprice prepares detailed weekly reports with data regarding unit sales from multiple sources in order to answer that question. In case You are thinking of optimizing your product range for Russian market or to start selling over Russian market via few major marketplaces, contact us via firstname.lastname@example.org specifying your field of industry, and we will send you our offers with details about SKU sales statistics.
3. Contact person training
You have never been to Moscow, but are considering visiting the city? The summer of 2019 is a great opportunity not only to go sightseeing around our beautiful and hospitable city, but also study a bit under our new program of internet monitoring training! We run a 2-day course of internet monitoring basics and discuss the most unobvious issues in cozy and safe atmosphere at our Lesnaya Plaza office.
The training session produces enhanced employees with practical competences and “attention to details” mentality – an advantageous solution for our client companies boosting the efficiency of their business.
Full course is described in section https://ru.getrealprice.com/
- See detailed course program in.doc
- Hotels in Moscow at booking.com (we recommend National operating since 1902 year)
- Flights to Moscow are quite regular, see schedule at https://skyscanner.com
Guides around Moscow at https://www.toursbylocals.com/
- Any questions about details and planning of visit&stay: email@example.com or +7 (495) 225-86-55
What else / What’s new?
In 2019 we emphasized our efforts on increasing the interactivity of interaction between customers and our clients’ internet stores because growth drivers in form of loyalty systems have gradually been adopted by everyone, and companies needed “a novelty”. Talking about interactivity we mean availability of integrated services within the standard platform of client internet stores, functionality of which is outside the limits of standard engines of these stores but is possible through the use of Getrealprice API. In our view, in 2019-2020 one cannot remain successful solely by using discount cards or special customer statuses with communication of 2-3 prices, it requires being more technologically advanced and competent, which is exactly what Getrealprice specializes in.
Here are the solutions we have prepared for You:
4. Instant interactive service of price checks “Found it cheaper”
Usually price monitoring is organized in such a way that it surveils 20-40 competitor websites with similar products, because watching all internet stores at once is impractical. Thus, the following is performed: a “found it cheaper” button is installed on every product page in the internet store. Having clicked on it, the customer enters a link to a product which they believe to be the same product with a price significantly lower than in “our” internet store. The point of the service is that client operators cannot quickly (within 1 minute) check whether the data sent by the customer is valid, as there are lots of details affecting the price: matching region of delivery, the same original manufacturers, warehouse availability, similar package, etc. However, Getrealprice operators can swiftly check this information and provide their decision via API: whether to confirm the find or reject it with substantiation. This way an internet store can reasonably and promptly process client requests and does not lose customers because of operational faults.
Product details https://ru.getrealprice.com/
5. Getrealprice PriceTV in offline stores and pick-up points.
Getrealprice clients are confident in their under-control-and-best prices for every product, and they prudently broadcast this confidence to their customers in other sales channels with the help of Getrealprice PriceTV service. Getrealprice stores price history for all compared products. As a Russian saying goes, “it’s better to see once for yourself than to hear a hundred times from someone else”. This is how it looks:
We prepare such images beforehand and demonstrate them through specified displays in client-owned areas, so that the customers could see an additional proof of their shrewd choice.
6. Smart matching of similar products and impressive product recommendations
These solutions are similar with the “You may also find interesting” block in the product page, which is usually present in every second internet store, but significantly varies for its quality of content. In most cases, such “similar” products are derived either from the history of views or input manually. In the first case, the resulting solution is auto-correlated and does not feature anything new, but instead is composed of descriptive statistics of behavior of previous customers, being essentially “content for the sake of content”. This is why we use convolutional neural networks (CNN), enabling us to promptly sort products by attributes using a single incoming image, and after certain processing, produce real product recommendations.
The neural networks we utilize can match similar products not only by shape, but also by texture, color, insets, contour, zipper shape, collar, prevailing curves and around fifty other parameters, or so-called “vectors”.
Besides such universally understandable example, the procedure allows the internet stores of our clients to become more modern and profitable thanks to specific solutions brought out into separate JS modules. Here are some examples of increased interactivity:
- Smart detection of similar products – comparable to what stylists do in stores;
- Offering similar goods from the same categories to customers (trainers-trainers) or from different categories (for example, to create matching sets in jewelry ranges);
- Offering similar products by other brands (replacement product by brand A instead of brand B);
- Matching own similar products for every competitor product (visual analogue for every product);
- A service for instant search for similar products based on a link uploaded by customer.
- A service to forecast sales of your new scheduled-to-conduct items having only a sketch of it (we match sketch with real existing items with known sales and report you with it)
In our point of view, only neural network recommendations can instantly provide customers with what they want in case they themselves are still uncertain about what exactly they want.
study result examples for jewelry products with different categories https://getrealprice.com
7. Generator of new product designs
Currently there are few companies in Russia independently developing their own product designs or preparing briefs for these designs, for example, for new product collections.
Users of this service specify which product field or category interests them and Getrealprice teaches its neural networks to generate previously nonexistent designs with respect of the history of sales of the products for which the networks are taught. As the result, a neural network generates designs which can be fully or partially used for production; these product designs already carry the “genes” of good sales in them, which, in case of clothes, usually comes down to conservative style of generated images.
Here one can find examples of our commercial works, all this has been visualized by a Getrealprice neural network:
As You can see from the examples, the use of neural networks has practical sense, and their practical applications are no secret nowadays.
Our experts are ready to give their professional, simple and efficient explanations about the way our neural networks operate, in order to provide You with personal correct practical understanding of the essence of these technologies. For such consultations, visit our office or order a planned call, our phone number is +7 (495) 225-96-55, we are looking forward to our cooperation!
8. Mutual creative works
Adoption of the abovementioned inter-server scenarios for interaction with Getrealprice requires that the client party features competent programmers for API tuning. Works of such employees are usually planned for many months ahead, so we offer professional assistance providing our resources – any company can loan a professional developer of Senior Developer level (Leading developer) from Getrealprice, and we will do much more than just solving the integration issue, for example also optimize a large number of unsolved IT-related problems accumulating with time: orders will stop “disappearing”, Your database will become correlated with warehouse database in real time, we will reduce the load of Your Internet store caused by background freelancer parsing, provide You with control instruments for all daily processes on a single screen for all managers and much more.
In this article we have provided a short review of Your opportunities for business development in 2019-2020 and we are inviting You to visit us, get to know each other and engage in fruitful cooperation.
As You have seen from the text and the examples, the proposed products are not complex and unexplainable in all spheres, it’s not a black-box, and everything comes down to concrete and understandable projects, regular mutual directional efforts, performed in an atmosphere of smooth cooperation between Your and our companies and interaction between appropriate contact persons allocated for that purpose.
Incoming summer is a traditional holiday season and a time of reduced business activity, accumulation of manager potential and energy and also a time for making new contacts and engaging in communication. Upon Your return from holidays, find some time to communicate with Getrealprice experts – ready and efficient solutions offered by our company are waiting for You.