NetRivals

NetRivals is an advanced market analysis and competitive intelligence solution designed to empower e-commerce businesses, brands, and retailers with actionable insights. By leveraging AI-powered technology and a vast database monitoring over 1 billion products and 3.9 billion images from 32,000+ online stores worldwide, NetRivals enables merchants to make data-driven decisions to optimise their pricing strategies, increase competitiveness, and boost revenue.

The problem NetRivals solves lies in the complexity of staying competitive in an ever-evolving and highly saturated e-commerce market. Businesses often struggle to monitor and analyse competitor pricing, market trends, and customer preferences effectively. Manual approaches to this task are time-consuming, prone to error, and fail to provide real-time insights that are crucial for maintaining a competitive edge.

NetRivals empowers e-commerce businesses with real-time competitive insights, AI-powered product matching, and dynamic pricing to optimise profitability and stay ahead in the market. Monitoring over 1 billion products and 3.9 billion images from 32,000+ stores globally, it provides unmatched data scope and precision.

What sets NetRivals apart:

• AI-driven accuracy: Intelligent product matching and trend analysis eliminate errors and streamline decisions.
• Dynamic pricing: Automated repricing balances competitiveness with profit protection.
• Comprehensive market view: A 360° perspective on trends and competitors ensures strategic agility.
• User-friendly dashboards: Simplified data visualization powers actionable insights.

With its breadth of data, cutting-edge AI, and proven ROI, NetRivals transforms e-commerce strategies, offering a competitive edge unmatched by other solutions.

NetRivals introduced position-based pricing rules, a groundbreaking enhancement to its Dynamic Pricing Strategy Editor. This innovation enables businesses to refine their pricing strategies with precision, balancing competitiveness and profitability like never before.

Key innovations:

1/ Position-based rules:

• Users can now target specific market positions, such as matching or exceeding competitors ranked within the top 10.
• Prices can be adjusted to be slightly cheaper or more expensive than competitors, by a defined amount or percentage.
• This strategic flexibility prevents unnecessary price wars while maintaining market relevance.

2/ Enhanced control and flexibility:

• Allows businesses to maintain competitiveness without driving prices down indiscriminately.
• Empowers users to align pricing with broader profitability and market positioning goals.

3/ Broader market insights:

• By targeting specific positions, users gain a more comprehensive understanding of competitor pricing dynamics and can respond more effectively.

Impact: This innovation has revolutionised how e-commerce businesses approach dynamic pricing, offering smarter competition strategies that preserve margins while optimising market positioning. With these new rules, NetRivals ensures that users can maintain agility and control in an increasingly competitive e-commerce market.

Design-Bestseller, a renowned German furniture retailer with over 100 years of experience, expanded into e-commerce to sell premium designer furniture across Europe. Initially, their pricing tool provided inaccurate suggestions, requiring time-intensive manual corrections and hindering efficiency.

In April 2022, Design-Bestseller adopted NetRivals for the German market and expanded usage to the Netherlands and France by mid-2023. NetRivals provided a detailed market overview, enabling dynamic pricing strategies that automated processes and saved their pricing manager at least one day of work per week. This allowed their team to focus on strategic initiatives and better prepare for peak sales periods.

Results:

• Netherlands: Revenue increased by 200%.
• France: Revenue grew by 20%.
• Top 20 Brands: Experienced growth between 30% and 80%.

Testimonial: "With NetRivals, we gained essential market insights that allowed us to fine-tune our pricing and improve our margins significantly. The tool has been instrumental in driving revenue growth while enhancing our operational efficiency." (Marvin Schmidt, Executive Consultant for Pricing & Margin Management, Design-Bestseller)

This case study demonstrates how NetRivals empowers businesses with actionable insights and automation, driving substantial growth and efficiency in the competitive e-commerce market.

https://www.lengow.com/solutions/netrivals/