Optimizing supply management with competitive intelligence

Overview

A leading US-based Ecommerce giant wanted to perform competitor analysis for various assortments they were offering. The client had a major need to identify top-performing products based on the demand score across various categories. They wanted to identify the gaps in their inventory against their potential competitors. They wanted a list of potential sellers who had good conversions to collaborate. This list had to be refreshed on a monthly or quarterly basis.

Challenges

The client approached Xtract.io as they encountered multiple challenges due to the high volume of products to be monitored.

• Identifying top-selling products for a specific category.
• Measuring logical metrics and deriving the demand score for individual products.
• Creating a list of all products that are on demand by monitoring competitors’ listings.
• Performing an inventory gap analysis against competitors’ products.

Solutions

To address the client’s specific challenges, we designed a custom competitive intelligence solution to streamline the process and derive accurate data for informed decision making.

Custom Solution Development

Our data engineers created a tailored solution to extract dynamic product listings based on the demand score for each product type.

Data Cleansing and Integration

The collected data was meticulously analyzed to remove duplicates and combined with other data sources to ensure accuracy and relevancy.

Real-Time Competitor Analysis

Competitors’ top-selling products were identified in real-time for each category through close collaboration with the client.

Identification of Promising Sellers

Our analysts pinpointed promising sellers who excelled in selling each SKU, providing valuable insights for strategic planning.

Results

Our competitive intelligence solution achieved outstanding results for the client:

Optimized Pricing and Increased Sales

The client was able to optimize their prices, resulting in an increase in sales despite a competitive landscape.

Enhanced Product Visibility

Better positioning of the products increased their visibility, attracting more visitors to the product pages.

Improved Customer Conversion

The increased number of visitors led to more conversions, turning visitors into customers.

Market Expansion

The customer identified the gaps in the market and expanded its presence across three continents, skyrocketing their profits.