RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce archives : July 19, 2011

Why etailers need real time data

As more consumers look online for product infromation, price comparisons and final purchases, merchants are pushing their product online, as well. The problem with simply creating an ecommerce site is that consumers may not find your specific store in the noise of millions of other stores. Comparison shopping engines were created to help merchants stand out by offering products according to price.

by Kristina Knight

gazaro.jpg"Consumers are comparing multiple retailer prices simultaneously using the web and mobile devices. The rapid dissemination of product pricing, sales and deals via social networking further amplifies the competitive retail environment. Despite the prevalence of price comparison and deal finding tools for consumers, retailers haven't had the same real-time opportunity to efficiently analyze competitive pricing of every single competitor and their products," said Alexander Rink, Gazaro CEO. Gazaro's engine is focused on consumer electronics.

Gazaro's PriceIQ takes that one step farther by using near real time data to optimize product conversions. The platform tracks and analyzes millions of products giving marketers more detail into price, in-stock status, category information, channel and supplier.

"The benefits for retailers include optimizing their margins and product mix, improving their negotiating position with manufacturers, improving the accuracy of their information, and reducing the cost of data collection," said Rink. "Manufacturers use Gazaro to understand their position relative to national and private label brands, and to gain channel visibility by allowing them to monitor and enforce Manufacturer's Suggested Retail Price (MSRP), and Minimum Advertised and Internet Minimum Advertised Pricing (MAP/IMAP) policies."

Tags: ecommerce, ecommerce analytics, ecommerce data, Gazaro, online shopping, real time analytics

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.