Product price is an important factor impacting sales of any product. The economical price is a dominant factor during the buying decision phase – where buyers are always looking for the best deal. Therefore, among other pricing strategies, competitive pricing is indispensable to retailers.
The Nearest 5 Competitor report helps a seller to monitor its Nearest 5 competitors in terms of price who sell or offer the same product. Furthermore, the report enables a seller to price optimally and be adequately competitive.
The Nearest 5 Competitor report in GrowByData’s Competitive Price Intelligence application is available under My Reports menu. In the report listing grid, click on CPI Nearest 5 Competitor report to view the report.
Various filters are available in the reporting tool which allows the user to view reports as per requirement. Users can view the nearest five competitors by platform type – Google or Amazon. Additionally, the report provides filtering capabilities by Sellers, Price Ranges, Brand, and Product Category. Users can view or export the filterable product catalog (SKUs) reports.
The Run Date filter is used to access previous or archived reports. Lastly, the product name or SKU filter enables the user to drill down the nearest competitors one SKU at a time.