Product feed repricing: how to optimize prices automatically with Connecteed

Among the determining factors for the success of an e-commerce is that relating to verification and constant updating of prices plays a crucial role to say the least.

As an online seller you know how crucial it can be to offer competitive prices for attract and retain customers. On the other hand, manually managing product prices can be an extremely onerous task, especially when you find yourself having to organize a very large product catalog or one affected by continuous changes in items and their costs.

It is precisely to answer this age-old but strategic question that the mechanism was born product feed repricing, a dynamic pricing strategy that allows you to automatically update the prices of your items based on different variables.

In this guide we will discover how Connecteed, an advanced tool for feed management, can represent your best ally and help you automate and optimize product repricing, improving the competitiveness and efficiency of your e-commerce.

The importance of repricing

They begin by clarifying the meaning of the term repricing in the context of managing the product feeds of an online store, analyzing the functioning of this strategy and therefore the advantages it poses when managed appropriately.

In the online sales sector, regardless of the product category considered, competition is now ruthless and users are increasingly demanding and attentive in identifying the best offers, letting themselves be guided by the final prices even more than by the fame and reliability of the brands.

This means that to attract and retain customers you need to offer competitive prices. However, competitive price is not necessarily synonymous with low price or minimum profit margins; the objective is often to propose advantageous costs compared to the offers developed by competitors, taking advantage of the possibility of directly updating the costs offered to the public on the basis of fluctuations in supplier price lists.
 

The factors to consider when determining online sales prices

The online market is dynamic and often characterized by even more sudden changes in demand than those observed in traditional retail.

Among the key factors that must guide the choice of pricing strategies for the items on sale in your online store stand out:

1. supply and demand. Consumer demand can fluctuate considerably, not only from year to year or season to season, but even within a single day. During phases of increased demand it is logical to aim to slightly increase prices to maximize profits.

2. Competition. Your competitors can change their prices at any time. The use of a feed manager for repricing and an ad hoc strategy can help you keep the competitiveness of your offer high.

3. Promotional strategies: Promotions and discounts can influence customer behavior. It is essential to adapt prices accordingly, taking into account for example the possibility of encouraging users to place larger orders by playing on special offers for combined purchases.

4. Variations in costs. Fluctuations in the costs of materials or shipping may require timely updates in product prices, in order to avoid making sales without a margin or even at a loss.

5. Seasonality. Some products can predictably be more in demand in certain seasons of the year and less in others (think for example of swimsuits or other weather-related clothing). This leads to a natural need to remodulate prices following this constant fluctuation in public interest.
    

Connecteed: il tuo repricing feed manager

Connecteed is a complete and professional feed management platform designed to simplify the management of product data and a whole series of activities related to the manipulation of this information, including pricing and repricing strategies.

Let's see how Connecteed can become your partner for a truly effective repricing strategy:

1. Quick acquisition from multiple sources

One of the challenges in managing product data is collecting and unifying data from different sources (such as those contained in the price lists communicated by supplier brands).

Connecteed greatly facilitates this process by allowing you to import pricing data from various sources, such as your internal database, spreadsheets, CSV files, or third-party FTP repositories.

This means you can gather all the information you need from any source at your disposal without having to manually perform each import.
 

2. Normalization and transformation of data

Once the data has been imported, Connecteed offers you the possibility to normalize it (i.e. make it homogeneous by eliminating any fields containing non-standardized information) and transform it to adapt it to the specific needs of your repricing strategy.

You can make changes to the fields, apply filters and ensure that your feed complies with the guidelines of the online sales platform you operate on, whether it is your e-commerce management system or the backend of third-party marketplaces, such as Amazon, Ebay or TrovaPrezzi.
 

3. Automatic and scheduled updates

The key to effective repricing is constantly updating prices.

Connecteed eliminates the need to manually update prices: you can schedule updates with a specific frequency based on the particular needs of your store and the characteristics of the market in which it operates.

This way, you will be sure that pricing information is constantly updated in real time, ensuring that your products remain competitive on the market or in any case aligned with the rates established by suppliers.
 

4. Performance monitoring

An effective repricing strategy requires constant performance monitoring. Connecteed provides you with valid automatic tools for setting alerts capable of promptly reporting errors in the import, rule application or export processes of the generated feeds.
 

The advantages of adopting a feed manager for professional repricing

Adopting Connecteed as a repricing feed manager offers clear advantages:

• time saving. Time is precious and Connecteed eliminates manual work and automates maximum repricing of online store items, allowing you to focus on other critical tasks for your business.

• Greater competitiveness. By keeping prices competitive in real time, you can attract more customers and maintain your competitiveness in the market, without having to manually make every single update.

• Fewer errors. Minimize human errors associated with manually updating prices, which can avoid inconveniences with customers and ensure your reputation remains intact.

• Reactivity. Update prices quickly in response to rapid and unexpected market changes. This responsiveness can make the difference in your ability to adapt to a sales channel characterized by sudden changes in conditions.

• Better control. Maintain constant, granular control over individual product performance in relation to pricing and make targeted changes to maximize profits. This granular activity management gives you a clear view of the performance of your items on the market and the results of your pricing strategies.

Product feed repricing is a key strategy for the success of an e-commerce business determined to compete in the current online sales landscape.

Connecteed is the ideal partner to simplify and automate this crucial process. By investing in an advanced feed management solution like Connecteed you can ensure that your prices are always competitive and aim to grow your audience and your business.