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Engineering

Intelligent price data gathering drives optimal pricing strategy for fashion and lifestyle products of Asian ecommerce firm

Intelligent price data gathering drives optimal pricing strategy for fashion and lifestyle products of Asian ecommerce firm Banner

Client Profile

Founded in 1973, the global consultancy giant works with almost 60% of Global 500 companies, nonprofits and startups to address industry-defining challenges in strategy, marketing, operations, digital transformation and sustainability. Operating out of 59 offices in 37 countries, the firm’s integrated services and solutions help clients across the manufacturing, defense, automotive, healthcare, infrastructure, retail and telecommunications space achieve breakthrough results.

Business Need.

This consultancy firm was approached by a leading e-commerce brand to strategize the smooth launch of a new range of fashion and lifestyle products in the Asian market. They were in need of a competitive pricing strategy to get an accurate estimate of similar product matching and near real-time pricing updates. Existing data with the ecommerce company was neither comprehensive nor current enough for creating a pricing strategy.

Looking at the market volatility and time-sensitivity, opting for manual market research approach for multiple product lines across geographies and brands was not feasible.

The consultancy firm approached Hitech to capture and collate pricing data from multiple e-commerce platforms for easy comparison and to set up an efficient pricing strategy for each fashion and lifestyle product, SKU-wise and location-wise.

Challenges.

Solution.

We captured, scraped and compiled 1L+ price data points for personal care, skin, bath and body, hair, fragrance and premium beauty products, region-wise and SKU-wise, from multiple fashion and lifestyle websites. Our solution delivered in structured, standardized and validated format gave a comprehensive competitors’ pricing overview to the ecommerce vendor for devising optimal pricing strategy.

Approach.

Business Impact.

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