Dynamic automatic pricing

Overpricing all the items you sell, maybe even multiple times a day? Unthinkable in a physical store, but perfectly viable in an online shop. Yet, what's the right price? Conviu will help you with that. Well, help is an understatement... It will do most of the work for you. You start by choosing a strategy and setting the rules. After that, you just keep an eye on your margin and profit, adjusting the rules as needed. You do this with peace of mind, knowing that nothing is slipping through the cracks.

In Convius' calculations, it most commonly relies on the purchase price excluding VAT and the competitors' selling prices. However, it can be based on any data, including your current selling prices. It may (or may not) also take the shipping price into account.

Who you want to beat (and who you don't)

At the beginning, it's good to clarify whom you want to compete with on the pricing battlefield. So, who is your competition? It could be all sellers, but maybe you are only interested in those with a certificate "Verified", with a certain number of reviews, or those who currently have the items in stock..

In Conviu, you can easily select specific e-shops you want to keep up with, or conversely, input stores you wish to exclude from competitive analysis. This can be done for your entire e-shop, for individual categories, brands,... or even specific products.

Pricing Battle Strategies

When you know who you're fighting, it's time to choose theright strategy:

• Price by Ranking - when you want to be precisely third among all sellers or the first (cheapest) among those who have the item in stock.
• Price According to Chosen Competitor - when you want to be either 1 CZK or 3% cheaper than the selected competitor.
• Price According to Competition - when you want to have a price around the average or median of competitors' prices, or when you want to add a markup to the competitor's price.
• Maximizing Margin - when you aim for the highest margin and operational profit, the price is set based on competitor prices, your purchase prices, and demand elasticity.
• Maximizing Turnover - when you want to be aggressive and gain a larger market share, requiring corresponding prices. Conviu also ensures you don't sell unnecessarily cheap and avoid losing profit.

You'll choose a different strategy for your top products than for long-tail ones. When you truly want to excel in pricing, you can set a distinct strategy for individual brands, categories, segments, manufacturers, price ranges, margin levels, or even for any group of products labeled with a custom tag.

Overview of the Battlefield

A comprehensive summary of pricing outcomes for any period can be downloaded anytime on the Statistics tab. You'll see, among other things, how actively you have adjusted your products' prices and how their margins have evolved. For a detailed analysis of specific items, you can go to the Products tab. Here, you'll find a summary of competitor prices, overpricing history, and price evolution displayed in graphs. This way, you can review recently adjusted items or products with the highest or lowest margins.