NetRivals Overview
NetRivals is a sophisticated, cloud-based price management and intelligence solution designed to help retailers and brands make informed pricing decisions and optimize their product strategies. Here’s a detailed look at what NetRivals does and its key features:
What NetRivals Does
NetRivals is developed by a team of experts in pricing, product attributes, and image recognition. The platform monitors over 900 million products and 3.2 billion images from more than 31,000 e-commerce sites across over 50 countries. This extensive data collection enables businesses to gain a comprehensive view of the market, allowing them to build effective pricing and product strategies.Key Features and Functionality
Price and Competitor Monitoring
- NetRivals offers robust price tracking and competitor monitoring. It provides real-time price information for each product in your catalog, differences in prices between stores, and historical price changes across competing stores.
Dynamic Pricing
- The platform includes a dynamic pricing module that allows businesses to evaluate and set product prices based on predefined rules, considering factors such as competition prices, acquisition costs, promotions, product demand, and stock availability. This helps in maximizing conversions and maintaining a default profit margin.
Product Matching and Management
- NetRivals features advanced product matching capabilities, including automatic connections based on product references, manual connections, and matches based on product similarities. This ensures that your products are accurately matched with those of your competitors, even when products lack EAN or GTIN codes.
Alerts and Notifications
- The system includes an alert notification feature that notifies users via email or in-app notifications when price changes occur according to specified criteria. This helps in keeping track of significant changes in the market and making timely decisions.
Business Intelligence and Reporting
- NetRivals provides detailed reporting capabilities, allowing users to generate reports in various formats (XML, HTML, CSV, Excel). The platform offers business intelligence tools that help in analyzing product performance, negotiating better conditions with suppliers, and detecting best-sellers and competing brands.
MAP Monitoring and Product Review Analysis
- For brands, NetRivals offers Minimum Advertised Price (MAP) monitoring to track price evolutions across different stores and countries. Additionally, it includes product review monitoring to analyze product performance in terms of reviews and ratings.
Customizable Dashboards and API Integration
- The platform features customizable dashboards that allow users to tailor the interface according to their needs. It also supports API integration, enabling seamless integration with other e-commerce systems and software.
Market Trends and Price Elasticity Analysis
- NetRivals provides tools for market trends analysis and price elasticity analysis, helping businesses understand how price changes affect demand and make data-driven decisions.
Stock Availability and Geolocation Pricing
- The platform monitors stock availability and offers geolocation pricing, allowing businesses to adjust prices based on regional market conditions.
Google Shopping Optimization
- NetRivals ensures Google Shopping optimization by generating feeds based on the most competitive products, helping to maximize campaign results and enhance profit margins.