Profitero, the leading global provider of online competitor pricing data, has revealed that Amazon.co.uk increased their number of daily price changes by more than eight-fold over the last six months. This is proof that retailers need to be monitoring their online competitors prices daily in order to deliver the most competitive price on the market.
The Profitero price analysis was based on more than 18 million products on Amazon's website, and was investigated daily between April and October 2013.
According to the findings, Amazon UK implemented over 50,000 price changes at the beginning of May, before peaking at more than 415,000 price changes by the middle of October.
"Whilst retailers increasingly recognise the threat from Amazon, they need to understand the importance of delivering the most competitive price on the market to appeal to today's price-conscious consumer. Amazon UK has implemented eight times the number of daily price changes since May, and is now changing the prices of more than 400,000 products every day. With Amazon becoming ever more dominant, it's essential that retailers are constantly monitoring their online competitors' prices to ensure they price right and avoid losing out on sales. We predict that the number of price changes is only going to increase and so for retailers to seriously compete with Amazon, they need to be prepared for this and to monitor Amazon prices on a daily basis using an advanced price intelligence solution such as Profitero." commented Volodymyr Pigrukh, CEO and co-founder of Profitero.
