Record Cyber Monday Results Underscore Need for Online Retailers to Gain Competitive Edge
Lixto exec urges online retailers to adopt advanced price intelligence.
Sunnyvale, CA (PRWEB) December 7, 2010
Cyber Monday saw the highest-ever single-day dollar volume for online shopping in the United States, topping $1 billion for the first time (Note 1), leading the price intelligence experts at Lixto, Inc., to remind online retailers of the need to gain competitive edge through the balance of the holiday shopping season.
“With the state of the global economy still uncertain, consumers will continue to shop with their heads, rather than their hearts, this holiday season,” says Christian Koestler, president and CEO of Lixto. “The importance of staying competitive in the online landscape – not only for retailers, but for online travel and hotel businesses – is more important than ever. Pricing and product offerings absolutely must remain competitive to ensure healthy sales and margins during this critical holiday period.”
Companies that employ automated price intelligence to monitor information on thousands of products and price points across multiple websites will obtain up-to-date information on the price changes that occur each day, week and month, says Koestler. “With this information, online retailers and travel/booking companies can understand impact of those changes on customers and the competition, which enables truly effective marketing – a win-win situation for both the customer and provider.”
Koestler provides insight on how two major international organizations are using price intelligence to increase margins and revenues.
Leading European merchandiser of computer and electronic accessories
A major European merchandiser put Lixto’s Price Intelligence Suite to use to track every product it sells on any website. With the ability to track products by manufacturing part numbers, the company can identify sellers who market old products as new ones, or sell grey-market imitations. It is able to pinpoint any sellers undercutting prices, and understand any violations in pricing policies. The result: the company’s brand is staying intact, and margins are increasing.
Online Travel Agency (OTA)
Holiday travel is one of the season’s key types of online transactions. Online travel agency and booking site competitiveness depends on the ability to negotiate best rates with providers, and to ensure “best price” guarantees across the Web. One of the world’s largest hotel reservation services is using Lixto’s Price Intelligence Suite to reliably compare its own rates to those offered on competing sites. This holiday season, the company is relying on advanced price intelligence for 17,000 of its hotels, across 20 competitor sites, and remains confident they are offering the most competitive rates possible for travelers.
“Results show that companies with a firm grasp on market dynamics maintain a competitive edge,” concludes Koestler. “At Lixto, we are convinced that awareness of the power of price intelligence will help other companies benefit over the 2010 Christmas period and beyond.”
Note 1: Billion Dollar Bonanza: Cyber Monday Surpasses $1 Billion in U. S. Spending as Heaviest Online Shopping Day in History
Lixto, Inc. (http://www. lixto. com, http://www. twitter. com/LixtoNvalley)
Lixto, Inc., is an international leader in web data extraction and analysis. Extracting specific, precise data from the web, Lixto empowers better decision-making, drives operational performance and offers competitive price visibility. Companies throughout the world, including Fujitsu Technology Solutions, Hama, hotel. de, Iberostar Hotels, shopping. com, SAP, and ZF Friedrichshafen, have adopted Lixto solutions.