Our client is a major international luxury brand. Its pricing department was equipped with a tool considered too rudimentary to allow a sufficiently precise analysis of the prices of the competitors on the whole variety of products and all the countries.
Therefore they turned to WorkIT, a specialist in monitoring competitor’s pricing and who is already present on this market, to develop a tool capable of providing an accurate real-time analysis of the competitors’ positioning in a given geographical area.
The solution Workit Brands
WorkIT has chosen to develop a full-fledged Workit Brands application dedicated to the luxury business. Data is collected daily from 120 websites in 15 countries covering 3 continents: America, Europe and Asia. On the one hand, the application allows to select specific products based on numerous filters (category, sub-category …, brand, capacity, color …) and then applies different types of calculations to make reports on these selections.
All the reports can be generated as price analysis or price index reports and several options are available. The user can:
- Choose the axes of analysis (brand, distributor, country)
- Define the time range (a single or period, a comparison between two dates or two periods).
- Generate a trend chart over a period of time.
Benefits rendered by Workit Brands
This application allows a brand (or a distributor) to:
- Compare its catalog structure (its assortment) with that of its competitors
- Work on its price positioning on a product or a selection of products
- Control its positioning in a particular geographical zone
- Compare the price evolutions before and during a particular event (Mother’s Day, Christmas, Black Friday) from one year to another…
Data is updated daily and new websites will be added regularly.