The Power of an Automated Pricing Tool: How Productpine Increased Its Sales by +15%

[Executive Summary]

Productpine, a Netherlands-based sustainable marketplace, implemented Lengow’s Netrivals automated pricing tool to streamline its price tracking process. Key results:

• Sales increased by 15% due to quick, accurate price adjustments.
• Manual work reduced by 50%, freeing resources for strategic tasks.
• Only 1.5 to 2 hours daily required for pricing tasks.
• Product catalogue expanded from 20,000 to 50,000 products swiftly.
• Customer service improved, with minimized pricing concerns

You might be on the search for the best price intelligence tool that can easily automate your pricing and boost your business. We know how difficult it must be to make the right choice which is why first you need to ask yourself the following questions:

• What are my current pricing challenges?
• What are my goals for the next couple of months?
• In which countries do I want to operate?
• Who are the competitors I want to monitor and compete with online?
• Where do I want to sell my products online (e.g. Amazon, Google Shopping)?
• Do I want to be cheaper, equally cheap, or more expensive than my competitors?
• Which and how many products will be priced dynamically?
• Is it hard to find EAN codes on the online stores I want to monitor?
• Am I willing to invest in a highly qualitative SaaS?
• How much do I value an easy-to-use user interface?
• What are my expectations in terms of Customer Service?

Some of these questions may differ depending on the type of business you have. 

If you are a retailer your focus is on monitoring how other retailers are pricing your products on different platforms and on using dynamic pricing, whereas brands tend to monitor their resellers and the prices of similar products from their competitors.

However, marketplaces can also benefit from using an automated pricing tool. 

Marketplaces can use pricing solutions to:

• Save hours of manual work;
• Save money on ads;
• Ensure the most competitive prices on the market;
• Become attractive to brands;
• Have total control over their position in the marketplace environment;

In the next section, we will take a look at Productpine, a marketplace that trusted Netrivals to achieve all the goals mentioned above.

Productpine is a sustainable D2C marketplace founded in 2019 and headquartered in Amsterdam, Netherlands. The marketplace is the first of its type to aim for sustainable practices, and it operates in Belgium and the Netherlands. 

Without charging the consumer additional fees, the business reduces the CO2 emissions caused by each order. Customers can choose from a variety of compensation initiatives, including, for instance, reforestation or the reduction of plastic waste. Although this online platform offers a wide range of products, its primary sectors are the home, living, and sleeping sectors. 

Additionally, Productpine has a physical location called the “experience center” that helps businesses to engage with consumers more effectively and connect with them in a more personalised way.

As Productpine’s main promise to its customers is to offer the best prices in the market, tracking the market’s prices became mandatory. Unfortunately, tracking prices manually became very difficult and time-consuming, forcing its employees to spend a lot of hours filling in Excel sheets with product information and going channel by channel to add the products they wanted to sell. Consequently, not all desired products could be repriced.

In order to automate the process of price tracking and change prices automatically, Productpine decided to search for a price-matching tool.

Thanks to Netrivals’ simple and user-friendly interface, as well as the overall service, the marketplace decided to go for this automated pricing tool.

Netrivals has all the important solutions Productpine needed to automate its pricing processes in a scaleable way: The price monitoring tool allows it to always have an updated overview of the market, whereas the repricing tool, which includes dynamic pricing, allows it to adjust prices according to pre-set pricing rules and stay competitive in the market.

Nowadays, the company only has to work on pricing for 1.5 to 2 hours per day, which is the time needed to do additional product connections and to update the pricing strategy, if needed.

Productpine was able to expand its product catalogue from 20,000 to 50,000 products in a very short period thanks to Netrivals and is now looking forward to expanding it further in order to generate more sales and revenue while helping the environment.

After implementing Netrivals automated pricing tool into its business, Productpine has experienced the following benefits:

• 15% increase in sales, especially on very competitive products, as prices were updated quickly and accurately;
• -50% manual work after using Netrivals;
• Improved customer service as pricing concerns were minimised;
• Enhanced employee satisfaction by freeing up resources and allowing employees to focus on more strategic tasks,
• Fewer advertisement costs due to higher competitiveness;

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You would like to automate your pricing but are unsure where to start?

Then reach out to our experts to know how our price intelligence solution can help your e-commerce business scale up!