Retail intelligence technology group Cogenta has launched Web Advantage, a new tool that enables retailers, manufacturers and brand managers to compare real-time pricing across multiple product categories.
Developed in response to client demand, Web Advantage provides highly accurate up to the minute price intelligence data and competitive price tracking from consumer good sites across the web. This enables the system's users to compare and analyse their own price-points and stock holdings with those of their competitors or channel partners (as in the case of manufacturers).
Users can then exploit the highly lucrative opportunities available from adjusting their prices ahead of the pricing positions held by their key market competitors. The intuitive plug-in system is designed to be compatible with existing working practices and is based on Cogenta's acclaimed real-time pricing analysis engine which monitors over 15 million products a day.
Adrian Hobbs the CEO of Cogenta felt that the new product will enable retailers and manufacturers to reach new levels of competitive price management. In his view; "We've involved our customers in the development of Web Advantage and the new tool closely reflects their input and wish lists.
"The feedback on Web Advantage has been great, particularly as this is the first time they will have seen something that helps them to stay ahead of their competitors' price-points quite so effectively across a wide range of categories. This level of real-time price intelligence allows users to derive price positions on consumer goods that were previously just not an option. This delivers an enormous commercial advantage to both retailers and manufacturers alike, especially those in highly price sensitive sectors. For buyers in markets such as toys, beauty, parenting products and computer games, this is a completely new approach to competitive price tracking. It is incredibly easy to use and gives immediate insight in to the user's market position. Given the potentially significant financial benefits, we are confident that demand will prove to be extremely high."