Here is another great customer of Prisync, meet Skisport.dk! They are using Prisync for almost 2 years and in this case study, Rasmus Skov who is the owner and founder of the company tells their story with Prisync in detail. Keep reading to see how Skisport.dk improved their pricing strategies with Prisync in these 2 years.
Rasmus Skov is the owner of the company and he explains their story like “We have started our e-commerce business as Skisport.dk in 2003 and for the last 10 years, we keep our own stock, doesn’t drop-shipping. This helped us a lot in terms of faster delivery to the customers which increases the customer loyalty. We also won the Oscar of E-commerce in Denmark for our store“. He also shared some information about the market in Denmark: “In Denmark, we have 4-5K potential customers over about 6 million people living here. It’s a bit small market in terms of the total potential customers but we’re having high competition even if from the different parts of Europe like Germany and this pushes us to be competitive in the market”
Rasmus also shared some information about the current numbers of their business, he says that “On our favorite month, January, we get 30K visits per day on average and at the moment our average basket size is about 150 Euro“.
Rasmus tells their story with Prisync with these sentences: “Before Prisync, we didn’t have a specific method or strategy to track our competitors’ prices. We were selecting the products to track at random, then checking them manually from our competitors’ websites. This was not a good method as the manual process was really time-consuming for us and selecting a part of the important products was causing that we were missing some opportunities for the products that we didn’t select to track“. He also says that “The number of products that we were able to track, was about 50 on 4-5 competitors before Prisync“
Just like any person in an e-commerce business, Rasmus also wanted to automate this process with a smart solution and looked for some options in the market. Rasmus says that “We have found a few alternatives in the market and compared them with Prisync while making our decisions. The reasons to move forward with Prisync were:
- Prisync is really easy to use, no need to have any integration
- You can also assign Prisync at any time to anybody else in the company as it’s really user-friendly
- Prisync doesn’t get blocked easily while tracking your competitors’ prices thanks to their sophisticated works on this area.
Because of these reasons, we have moved forward with Prisync and for almost 2 years, we’re using it. We tried to build also our internal system but it was really difficult not to get blocked and we couldn’t maintain internally, this was also an important reason for us to choose Prisync”.
With Prisync, Skisport.dk has gained a lot of different value and Rasmus explains this situation like “Compared to the previous total number of products we were able to track, we have dramatically increased our capacity with Prisync as we’re now able to track about 2000 products on 182 different web stores. At the moment, just one person is spending 2 hours on average per day to check the price changes, their pricing positions and then taking our pricing actions accordingly”.
One of the most important changes with Prisync according to Rasmus is that they are now able to react to the market a lot faster and this helps them keep their prices always profitable and compatible. Rasmus also says that “Using Prisync doesn’t always mean that we have to decrease our prices. It also means that we can catch the opportunities to increase our prices, and accordingly our profit margins. Now, with Prisync, we’re also seeing the price wars and taking our actions faster”.
Rasmus also mentioned that “Knowing your competitors’ prices is just one part of the pricing process but it’s certainly an important part. There are a lot of other aspects of this but you can really see the effect of Prisync on your sales if you follow the reports and take your actions accordingly”.
“As our future plans with Prisync, we’ll most probably use API to integrate the data into our internal systems so that we can take the automation one step further,” says Rasmus.
Prisync in One Sentence
“Prisync has made our focus on instantly following the market easier and our competitors are only first movers for a few hours so that being able to increase and decrease prices so fast has indeed improved our business”