Find and select competitors to use in your pricing actions
By clicking the Competition tab under Pricing Strategy, you can see a list of all competitors that are currently selected for the active shops. Additionally, you can sort on Name and Weight.
Note - Before you can select a certain competitor in a pricing action, you need to add to this competitor overview with a chosen weight. This means you can only add competitors that are added to this overview!
To add a competitor, click the plus sign in the bottom right-hand corner of the screen. This will open a popup where you can select competitors to add to the Competition tab. You can only select competitors that have been found after matching your products based on the data sources that are connected.
If you would like to make changes to one of the competitors that has already been added, you can click this competitor in the main list.
You can see a screen shot of this screen below:
Note - adding a competitor to this list does not automatically add it to a pricing rule.
Weights
Optionally, you can enter a weight when adding a competitor to the list. This weight has impact on the calculations:
- The numbers mentioned in the price ratio graph are calculated based on market averages. Part of this calculation is based on a pre-determined weight you have given to your main competitors.
- By default, the weight of a competitor is 1. If you would like to decrease the impact a certain competitor’s price has on the average, you can choose a number between 0 and 1. If you would like to increase the influence of a competitor on the average, you can pick a number higher than 1.