PriceEdge - Fuelling AI-powered e-commerce marketing engine

PriceEdge is an automated marketing engine for small and medium-sized e-commerce merchants. Its high-frequency scanning algorithms keep a hawk-eye on competitive listings and help its users successfully compete with D2C aggregators who have proprietary tools for repricing listings and reputation management.

With the help of Zyte’s Smart Proxy Manager, the company can access half a million product listing data across multiple marketplaces – and this is just the beginning.

Defining the ideal listing strategy for products can be really a pain for merchants. They need to manage and keep an overview of all products, but even more, they need to compete with the Amazons and Walmarts of the world. Customers are getting more and more demanding and are always on the hunt for the best price-value ratio. Agility to adapt the price accordingly to the ever-changing market trends becomes a superpower.

Therefore, it is no surprise that the industry of pricing tools and software is booming. But the integration process of these systems can quickly become complex and in general expensive. Smaller merchants often cannot afford these price engines.

PriceEdge takes away the pain of having to integrate software and tools and offers its dynamic price analysis and recommendation platform as a service. “The only thing our customers have to do is give us their merchant IDs for their listings. We prepare a list of their products and of their competitors. After approval, we start extracting all necessary information and deliver it in a dashboard for them to take immediate action – not only on the price”, says CEO, Tushar Sethi.

There are a lot of different repricing tools available on the market but they are often too expensive for smaller merchants. The idea behind PriceEdge is to give SMBs the tools they need to be able to analyze pricing but also market trends. “The e-commerce market is highly competitive and big players cut out a lot of smaller businesses due to more aggressive prices”, states Sethi. “We don’t think that this is fair, so we came up with the idea to offer our repricing engine as a service and make it affordable for smaller e-commerce shops.”

There are a few challenges for PriceEdge to overcome:

• Get the data. Accessing websites at such a large scale is not an easy task as crawlers get easily blocked.

• Analyze listing data, description, user reviews and page structures to identify “Trust Signals”.

To tackle the challenge of getting listing data reliably, at scale and at a very high frequency, PriceEdge has been using Zyte Smart Proxy Manager since April 2021. “We have compared the service to all major competitors and found its reliability and latency performance to be the best. We couldn’t find any other player who we could bet on for signing strict SLAs with our customers. We know Zyte has our back”, explains Himanshu Sethi, Chief Product Officer.

Many smaller businesses rely on excel sheets to manually track products, competitors, and market trends. Finding the right listing strategy quickly becomes a time-consuming process that makes it hard to be as agile as the market requests.

Sethi notes that at the center of PriceEdge is the desire to simplify the merchants' workflow. “They should be able to easily know when to reprice and see how their competitors are doing. From there, they can take immediate action and follow the repricing suggestion.”

Obviously, changing prices manually can be very time-consuming and inefficient. Sethi also explains that PriceEdge has this covered too. “Our solution proposes the optimum price per product. This helps our customers to automatically adapt the price on each marketplace accordingly.” There is no need to build complex in-house tech solutions.

Offering the right price at the right time is an important instrument for raising revenue but it also plays a decisive role in shaping the customer experience. While most e-commerce marketing solutions only focus on price, PriceEdge uses cutting-edge NLP to analyze the impact of price changes, user reviews, and page structure to determine the ‘lowest-cost intervention’ that its users need to make. The results of a months-long study showed that the lowest price listing doesn’t necessarily drive the highest demand. Whilst the exact sweet spot can vary from category to category, astute merchants manage to charge at least 10-15% premium using a variety of ‘trust signals’ which PriceEdge showcases in their browser-based dashboard.

For PriceEdge, Zyte’s Smart Proxy Manager offers the reliable and successful solution with the responsive customer support that they have been looking for.