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Adidas is an extremely price competitive and popular brand on e-commerce platforms. GrowByData’s Price intelligence solution reveals, “To win the market, sellers must track their competitor’s prices daily and implement repricing strategy for Adidas to price their products”.
From the Adidas retail price data on Amazon over the course of six months (June 2019 to December 2019), we recorded approximately 2.4 million price changes on 32,370 Adidas products sold by 2,655 unique Amazon sellers. This last figure represents 81% of the total retailers/resellers detected. Out of the total price changes, 63% of them — i.e. about 1.5 million — were prices lowered by sellers, which impacted 31,732 different products. A total of 2,587 unique sellers were found to have lowered their prices, which equals 79% of total sellers.
We recorded that this 63% portion of price changes, which resulted in new “lowest offers” impacted 36% of total products. For these products, their lowest offer price was found to have decreased. 34% of the price changes increased their lowest offer. This impacted 34% of all products. Meanwhile, only 3% of price changes by the seller did not impact the lowest offers on the market.
Competition-based dynamic repricing strategies are helping sellers find opportunities to raise their prices to maximize revenue.
Know More About Pricing Strategies: 4 Ways to Price a Product
Adidas sellers are tracking their competitors’ prices and repricing their Adidas products with lowest pricing strategies.
The chart below shows the top 10 competitive sellers who are looking to be the lowest offer seller. Amazon.com itself has done the most repricing, Amazon.com has made price changes on 83% of its Adidas catalog in efforts to be the cheapest on the market. Of these changes, 52% resulted in a new lowest offer for the product while 38% of changes made the lowest offer higher than it was before.
The chart below shows the product percentage by price range where lowest-pricing strategies are seen. Almost all price ranges have seen similar pricing strategies by the seller. The highest percentage in all price ranges is the pricing changes where the lowest offer for the products has decreased from before. It is followed by the percentage of price changes where the lowest offer increased.
Sellers are constantly looking for opportunities to raise their lowest price to maximize revenue.
The Adidas brand on Amazon is highly price competitive and most sellers are equipped with competition-based dynamic lowest-pricing strategy. Therefore, to compete on Amazon with highly competitive sellers like Amazon.com, Zappos, etc., sellers should consistently monitor their competitor’s prices and devise a dynamic lowest-pricing strategy backed by accurate daily price data matched at the variant level.
