You must upgrade in order to access the Dynamic Pricing Module. To enjoy its features, contact your Customer Care specialist or Account representative. 

Watch this video to know more about our Dynamic Pricing feature:

How my price is calculated?

Dynamic Pricing requires certain data to calculate the price to be used in our strategy. This will be both cost price and taxes. The formula used to calculate the current price is:

Cost price including taxes/(100-Min margin)*100

E.g. I have a product with a Cost price of €100, and my minimum margin is set to a 20%, therefore:

100€/(100-20%)*100= 125

Strategy Editor

There are four stages within this view:

• Settings: These are the general settings for your repricing strategy.
• Default Strategy: These are the default rules the system will take into account if no further/more specific actions are defined below (Manual override and Discard actions).
• Manual Override Actions: These are rules that apply to specific products.
• Discard Products: This option allows you to discard products that should not be taken into account when generating price suggestions.

Settings

You can check this video to know more about the Settings and how to establish these less priority rules in the Dynamic Pricing module:

1. Rivals included in your Dynamic Pricing

You need to enter the rivals that need to be taken into consideration by the system globally. You can choose to include All competitors, Include only specific rivals or Exclude particular ones.

 

2. Set a price minimum margin for your brands

You can get to set the minimum margin by default. Imagine that you want to keep a minimum margin of 25% for all your products, then you would need to enter such percentage in the box that you will find right next to the ‘Default min margin option’.

If there are other specific brands for which different margins apply, you can define such exceptions at this stage by entering that lower or higher percentage in the box on the right of each brand, and the system will take those criteria into account when calculating the repricing from the very beginning.

3. Shipping costs

You can choose whether to consider shipping costs or not.

If you click on the first option, shipping costs will be added to the price of the product. Take into account that if a rival is not publishing the shipping costs, we will discard this rival from Dynamic Pricing.

If you click on the second option, shipping costs will be sum to the price of the product but they will be substracted on the final suggested price.

4. Marketplaces sellers management

You can choose which sellers to take into account or not in your Dynamic Pricing strategy. You will be able to select specific sellers for each of the marketplaces you are monitoring in your Netrivals platform.

If you disable this option, marketplace sellers will not be taken into account, only Direct Web retailers, namely that you will exclusively receive suggestions based on the price of the winner of the buybox/main price displayed in the marketplace for the connected products.

There are 3 main scenarios for sellers management:

Case 1. Discard all sellers, only take into consideration main price/winner of the buybox:

In direct Web selector we active the toggle button and we choose our marketplace (Option will be marked as active by means of green circle in top right corner):

And in the name of our marketplace we maintain the toggle button off:

The outcome is the following; all sellers discarded, main price considered as suggestion:

Case 2. Include all sellers:

If we consider sellers for our strategy by activating the seller management toggle button for the marketplaces, then we will add the prices of the aforementioned players (if you select direct web competitors as well, prices will be added along with marketplace sellers).

By selecting the toggle button we will automatically include all sellers with connected products in the marketplaces included):

This is the outcome for such configuration:

Visually, direct web is discarded, but the seller's price for that product is included (in blue on top) not missing any price.

 

Case 3. Include/Exclude some sellers:

Dynamic Pricing will include or exclude the sellers added in the right box.

Sellers excluded, not considered for the strategy:

 

Sellers included for the strategy, the rest will be discarded:

 

Outcome for this case is the following some sellers are included, others are discarded:

If shipping costs are considered and/or main price/winner of the buybox is not the cheapest price due to other criteria considered by marketplaces other than cheapest price, order of sellers might vary:

5,Discard connections

This option protects your price settings if a technical malfunction occurs in your rivals’ web or they suddenly change their numeric system related to the prices. These situations could make Netrivals register that a price of 3.00€ has been modified to 300€, but it would be due to a human error when entering the data or a mistake that could have been caused by one of your rival’s e-commerce system. Through this option you can set the percentage of deviation over and below your own price in order to avoid anything that falls out of that deviation limit.

6. Schedules timezone

You can select your timezone to make sure that when you schedule by date and hour a Manual Override Action, it applies taking this information into account.

7. Sales Performance time period

The period of time considered for Google Analytics conditional actions.

8. Other settings

Four different types of settings are available:

• Discard sellers above List Price

• Discard sellers above Maximum Price

• Discard sellers below Min Margin

• Discard sellers below Minimum Price

 

Default Strategy

You can check this video to know more about the Default Strategy and how to establish a rule that applies to all products:

Unless there are Manual Override Actions that disregard rules set in the Default Strategy, the system will always take into account general settings to calculate and suggest new prices:

1. Single default action

These single action rules will apply in a direct way over all the products included in Dynamic Pricing at this step.

You can choose from the dropdown menu which is the default that you want to be applied for your catalog as a whole:

• • Equal to cheapest competitor: Match the price to the cheapest competitor.

  • Equal to specific competitor: Match the price to a specific competitor.

  • Cheaper than any competitor by: Lower prices by a specific amount or percentage.

  • More expensive than any competitor by: Higher prices by a specific amount or percentage.

  • Cheaper than specific competitors: Lower prices concerning a specific competitor.

  • More expensive than the specific competitor by: Higher prices concerning a specific competitor.

  • Equal to competitors average price: Match the price to competitors average price.

  • Match to list price: Match the price to the recommended by the brand.

  • Don’t apply the default action: Does not perform any price calculation.
    
    

2. Conditional default Action

These rules will follow the structure below:

If my products in stock are less than 5 units, then my price should be the same, and if not, then I should be equal to the cheapest competitor.

Step 1:

You can choose from the dropdown menu what is the default conditional action that you wish to be applied for your catalog as a whole included in DP:

• My stock units: when my stock is (= equal to, ≠ not equal to , > greater than, >=greater or equal than, < less than or <= less or equal) to the number selected in the right-most box.

• GA views: when your KPI GA views is (= equal to, !=not equal to , > greater than, ≥ greater or equal than, < less than or ≤ less or equal) to the number selected in the right-most box. (Only when sales Performance is activated)

• GA Conversion Rate: when your KPI GA Conversion rate is (= equal to, !=not equal to , > greater than, ≥ greater or equal than, < less than or ≤ less or equal) to the number selected in the right-most box. (Only when sales Performance is activated)

• Connections amount: when my connections are (= equal to, !=not equal to , > greater than, ≥ greater or equal than, < less than or ≤ less or equal) to the number selected in the right-most box.

• My products are sold by: a specific Direct Web rival or seller in Marketplace . Attention. If we select Direct Web/ any marketplace that we follow, we will be considering the winner of the buybox).

• The cheapest rival is: a specific Direct Web rival or seller in Marketplace . Attention. If we select Direct Web/ any marketplace that we follow, we will be considering the winner of the buybox).
  
  

Step 2 and 3:

The following steps will apply the rule considering whether step 1 rule is met or not. The options are:

Then (Conditions met), Else (Conditions not met).

• Equal to cheapest competitor: Match the price to the cheapest competitor.

• Equal to specific competitor: Match the price to a specific competitor.

• Cheaper than any competitor by: Lower prices by a specific amount or percentage.

• More expensive than any competitor by: Higher prices by a specific amount or percentage.

• Cheaper than specific competitors: Lower prices concerning a specific competitor.

• More expensive than the specific competitor by: Higher prices concerning a specific competitor.

• Equal to competitors average price: Match the price to competitors average price.

• Match to list price: Match the price to the recommended by the brand.

• Don’t apply the default action: Does not perform any price calculation.

There is a tick button that will allow you to ignore competitors without stock.

Manual Override Actions

You can check this video to know more about the Manual Override Actions and how to establish rules for specific subgroups of products that will have priority in determining price suggestions:

Let’s move on to the steps you need to follow when adding a Manual Override Action:

1. Click on the ‘Add new action’ button you’ll find at the right.
   
   
   
   
2. New action
   Add an Action name/Title that is representative of the action itself and indicate whether it will be active or not by clicking on ON/OFF.
   
   
   
   
   
3. Schedule
   

   Choose at which date and hour you want to apply this rule, you can specify if you want to set up the rule One Time or Continuously.

   • One Time: The action will be active from a specific date and hour to another. It will only apply during this time.

   • Continuously: The action will be active with no end date at specific dates and between certain time slots. Also, you can activate it during the specific time range that you select according to your needs, modifying both dates and time slots.

   You can choose in both cases if the action will be active or inactive.
   
   
   
   

4. Product Selection
   Specify which criteria will this action take into account. You can select filters based on brand, category or tags (you can use them all or just some or only one of them). Or you can also create an action around a product list, selecting products either by product name or EAN/Code (IMPORTANT!! up to 200 products, for more than that number use tags as aforementioned) . The system will allow you to find the products you’d like to add to the list by title, references and other attributes available.
   
   
   
5. Actions
   Once you have selected filters or specific products you want to use in the given action, the next step consists in specifying the aforementioned actions that will happen for such products. You can also get to specify whether you want to include or exclude all competitors or specific ones.
   
   
   
   
   
6. Markeplaces sellers management:

   You can choose which sellers to take into account or not in this specific rule. You will be able to select specific sellers for each of the marketplaces you are monitoring in your Netrivals platform.

   If you disable this option, marketplace sellers will not be taken into account in this rule, only Direct Web retailers.
   
   
   
   

7. Group Min Margin
   Next thing to do is to specify the Min margin you want to apply for the actions created. You can set such margins by using a % or a given amount (£/currency type).
   
   
   
   

8. Priority Actions
   The last, but not the least. You need to determine the order of priority of actions by using the arrows you’ll find on the right. Again, from here, you’ll be able to see which criteria is being taken into account in actions created.
   
   
   
   

9. Finally, you just need to save the action.
   
   

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Discard Products

You can check this video to know more about the Discard Products option and how to select products that will not be affected by the automatic price changes, in other words, those that will not be influenced by the above Dynamic Pricing rules:

Imagine that you are a sporting goods seller and you previously set a rule stating that you want to be equal to the cheapest competitor in all products of the brand Nike, but you do not want that to happen in the category of ‘men running shoes’ of the Nike brand. Then you’d be entering this rule right here in the discard products step, and all products Nike (except for those within the category of ‘men running shoes’) would be set at the same price as the competitor with the lowest price.

Let’s move on to the steps you need to follow when creating a Discard Action:

1. Click on the ‘Add discard action’ button you’ll find at the right.
   
   
   
   
2. New action: Add an Action name/Title that is representative of the action itself and indicate whether it will be active or not by clicking on ON/OFF.
   
   
   
   

3. Schedule: Choose at which date and hour you want to apply this Discard Action, you can specify if you want to set it up One Time or Continuously.

   • One Time: The Discard Action will be active from a specific date and hour to another. It will only apply during this time.

   • Continuously: The Discard Action will be active with no end date at specific dates and between certain time slots. Also, you can activate it during the specific time range that you select according to your needs, modifying both dates and time slots.

   You can choose in both cases if the action will be active or inactive.
   
   
   
   

4. Products Selection: Specify which criteria will this action take into account. You can select filters based on brand, category or tags (you can use them all or just some or only one of them). Or you can also create an action around a product list. The system will allow you to find the products you’d like to add to the list by title, references and other attributes available.
   
   
   
   
5. Finally, you just need to save the action by clicking the Save button at the right bottom of the screen.
   
   
   
   

Recalculating and applying repricing suggestions

You need to recalculate suggestions every time you apply changes to your current strategy or when you enter any new rules in the system.

You can do so from the Pricing Suggestions page or the Strategy Editor, both in the Dynamic Pricing section.

Once you’ve done so, you can download suggestions via CSV or API from the Pricing Suggestions page in order to apply changes on your store platform.