Magento is an open source shopping system and addresses medium-size companies which want to pursue a sustainable online strategy with the help of a flexible software. The online shop software is regarded as the fastest growing e-commerce platform worldwide. Thanks to its comprehensive functions, its intuitive operation and search engine friendly program structure, it is very popular among both small and big online retailers.
Most of the retailers who use Magento for the creation and administration of their online shops, offer their products not only in their own shops. Their items are also supplied and sold on Price Comparison Websites like guenstiger.de or idealo.de as well as on online market places like Amazon, eBay and Google Shopping. Which retailer wins most clients over, is most commonly decided by the price. In order to react quickly to competitors’ price alterations, continuous price administration / control via the Magento retailer as well as price optimisation of the Magento shop is not only recommended, but absolutely necessary. Only this way can competitors be outdistanced and higher sales or higher margins be achieved.
What is Repricing?
For you as a Magento retailer, repricing is the most effective and most efficient solution for price optimisation. The term "repricing" refers to the automatic calculation of the sales price of an article based on the competitive situation. The term "dynamic pricing" - high-frequency price optimisation - is often used in this context. Here, prices are optimised on the basis of the competitive situation and user behaviour. With regard to eBay and Amazon, most Magento online retailers are already familiar with the topics of repricing and dynamic pricing. However, many do not know that they likewise carry many advantages with regard to Google Shopping and the various price comparison sites.
Why is repricing important?
As a Magento online retailer, you need an intelligent repricing strategy to compete with the most influential marketplaces such as eBay and Amazon. This helps you to control the prices of your competitors on the one hand and to update your own prices so as to maximise profits on the other.
Professional Magento price optimisation
Daily price monitoring and manual price optimisation are very time-consuming and costly for Magento online retailers. Not only do prices of competitors on the different marketplaces and price comparison sites have to be checked, but also own prices must be adjusted. To make this work easier for you, we have developed the Pricemonitor - a repricing tool that is easily compatible with your Magento shop system.
With our repricing tool optimised for Magento systems, we make it easier for online shop operators to maintain optimised prices in order to meet competitors and marketplaces such as Amazon and eBay at eye level. Through the cooperation between Patagona and Magento and the release of the "Pricemonitor" Magento plug-in, the administration of your Magento shop alongside simultaneous repricing with the Pricemonitor can be made considerably more efficient.
The data exchange is made extremely easy via the plug-in. The articles to be optimised (including article characteristics, upper and lower price limits) are transmitted to the price monitor. The optimised prices are then sent back to the Magento shop system through the Repricing Tool. The plug-in for price monitoring is available in the Magento marketplace. Additionally, if yo
u work with an EMP or merchandise management system, we can transfer the optimised prices directly to the corresponding systems on request.Magento allows you to manage multiple shops on different domains. In addition, customers in the B2B area can also be offered various assortments. Just as multi-channel management with Magento works, so does multi-channel price control with the Repricing Tool. Different price groups for different channels/customer segments can also be created and controlled in the Pricemonitor.
Magento Repricing with the Pricemonitor
The Pricemonitor makes it possible to monitor numerous other sales platforms and comparison portals in addition to Amazon and eBay. As a user, you can benefit from important market information and comprehensive competitive analyses and you can define your individual pricing strategies even more specifically.
The Pricemonitor determines the prices of your competitors for you, calculates the optimal prices and changes them directly in your Magento system. This way, you are always one step ahead of your competitors.
The Pricemonitor can easily check up to 1,000,000 items daily and adjust your prices in the Magento shop accordingly. Also very frequently on request, e.g. with dynamic monitoring.
The Repricing Tool helps you to get a precise market overview by recording, analysing and clearly presenting the offers of your competitors. This way you always have an eye on what is going on in the market.
Automation & intergration
We are happy to arrange the connection to your Magento shop or merchandise management system free of charge. Flexible CSV feeds allow you to export all necessary market and price data and automate your Magento repricing process.
Try Magento Repricing for free now
Have your prices automatically optimised today and create a free trial account now! With the Pricemonitor you always meet your competitors at eye contact level and increase your chances of higher sales, margins and profits.