On the supplier's form the main page, there is a block designed to adjust prices in accordance with the prices for the same products in competitors' stores:
Our goal: to set our prices lower than the competitors' ones, but not lower than the purchase price.
How it works
- For each product from the price list, the plugin collects prices from competitor sites (there is no limit to the number of the sites).
- From the resulting array of prices, the plugin calculates the optimal product price, according to the settings in the "Analysis of Competitor prices" block.
- If the calculated price is higher than the purchase price, the plugin will change the product price with this price.
Therefore, the "Purchase Price" field cannot be left blank. It must point to the price list column containing the purchase price for each item. If the supplier's price list does not have a separate "Purchase price" column then the regular product price (without markup) can be considered as the purchase price.
A product without a purchase price will be skipped.
1. Initially, you need to add links to the competitors' website pages to the supplier's price list. This is done manually and once:
2. Set up the price parsing parameters for each competitor similar to a regular price parsing:
make sure that the prices with the specified parameters are parsed correctly.
3. Adjust the "Analysis of Competitor prices" tab and process the price list once. The plugin will save competitors' links from columns 4,5 and 6 in products and will use them in the future. That is, in the future, to update the competitors' prices, this price list will be enough:
or simple, do it from the "Tools" tab with one click without a price list:
Competitor Price Analysis. Setings
"Competitors' prices" tab
Designed to set up price parsing from competitors' web pages.
- A field specifying the column number containing a link to the competitor's web page for parsing. If the plugin finds a number instead of a URL, it will consider it a parsed price
- Competitor's name (or free text)
- Competitor's exchange rate.
- Price parsing parameters.
- Text that can be found on the competitor's site web page between the parsing parameters 6, indicating that the parsed price is not relevant.
- Parsing parameters for a text indicating that the price is not relevant.
- The purchase price is mandatory, therefore, if competitors' prices are analyzed without a price list (from the "Tools"), one of the competitors (with the minimum product price) is selected as a supplier of minimum prices.
"Analysis of competitors' prices (ACP)" block
In this block, you can set the conditions under which your product price should change depending on the competitor's prices for this product. Let's say that for each product several prices were received from competitors.
- The field that enables ACP and set up the price calculation. Among competitors' prices, the arithmetic average is calculated and reduced by 1%. You can reduce the price by 1 currency unit if you do not specify the "%" sign.
- After the first competitors' prices analysis, the links on which the prices were parsed are saved in the products, and the next time, in this field, you can select the option "Use previously saved".
- This field sets the additional discount to the purchase price the supplier provides you(if any). ACP considers this to determine the minimum price you can afford for a product.
- One of your competitors may be selling at a price lower than your purchase price. If this is the case, you need to change the settings in field 1.
- The case "If the price could not be determined" occurs when all competitors have removed the product from their sites, or when the product is marked with the text "Discontinued", "Out of stock" or some other out of stock text (see 5 in the first image).
- Let's say that the purchase price is 110. The competitors' prices turned out to be: 109, 115 and 130. Then the "close to purchase" price will be 115. Price 109 will be dropped because it is less than the purchase price.
- The optimal price is the average price among all competitors' prices, which takes into account the confidence factor:
- The lowest price has confidence factor 1
- The highest - 2
- All other - 3