Executive summary Executive summary

Client background

Our client is one of the leading luxury store chains both in North America and around the globe. The company retails exclusive clothing, accessories, and home products to customers in over 100 countries.

Business challenge

Our client wanted to strengthen their capabilities to analyze the pricing policies of their competitors to improve the effectiveness of their own pricing strategies and increase sales.

Value delivered

N-iX has developed a new product pricing platform that analyzes competitor product prices and provides near real-time reporting. It allows our client to effectively match the product and price needs of their customers.

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100 years+
years on the market
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10,000+
employees
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Hundreds of millions
in annual revenue
Location:
USA
Industry:
Retail
Partnership period:
March 2022 - November 2022
Expertise delivered:
Cloud Solutions
Technologies:
Python JavaScript Scrapy, Angular, AWS, Redis, noSQL, Flusk, Docker.
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Near real-time
reporting
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Microservices architecture
design and development
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Web scraping
for collecting information

Success story in detail

Business challenge: creating effective pricing strategies with accurate competitor analysisBusiness challenge

The client was using a third-party platform to retrieve competitors’ pricing data about a variety of products. This information was used to develop their own pricing strategies and, subsequently, increase sales. However, it was difficult to expand the number of competitors in pricing reports. It also had an insufficient accuracy level because the products that were mentioned in reports matched the client’s products only by 70%. Finally, the solution did not match the accuracy requirements of our client, since it generated reports only on a daily basis and lacked real-time reporting.

Luxury store clothing selection
N-iX approach: extensive Product Discovery and PoC for information retrievalN-iX approach

N-iX has conducted extensive Product Discovery during which we elicited functional and business requirements, analyzed competitors, designed architecture diagrams and prepared the microservices architecture design, and created the platform’s UI/UX look according to our client’s needs. Additionally, our team has conducted a PoC for retrieving pricing information from the competitors’ websites.

Implementation: developing a product pricing platform with near real-time performance and high accuracyImplementation

N-iX has helped the client develop a microservices-based product pricing platform that provides insights about prices on luxury products set by their competitors. It helps sales, marketing, and B&R experts to plan effective pricing strategies. The solution allows to create date requests to get data from the competitors’ websites based on the specified market, currency, brand, product category, and product name. The pricing information is collected with the help of web scraping, where the bot automatically fetches the prices from the competitors’ websites and stores information in the database.

The solution also allows generating Excel reports, which include product names, website links, and prices for both our client and their competitor. These reports can be generated an unlimited number of times in near real-time, allowing the client to receive accurate up-to-date pricing information with minimal delay.

Finally, N-iX engineers have implemented an intuitive and visually appealing UI for the pricing platform. Additionally, we have established manual testing to ensure the error-free performance of the solution, and built a CI/CD pipeline from scratch to streamline the development process.

Value delivered by N-iX: improving analysis accuracy and increasing salesValue delivered

N-iX has developed the product pricing platform from scratch that retrieves pricing data from competitors’ websites. We have implemented the microservices-based infrastructure and an intuitive UI. As a result, we helped the client obtain several substantial benefits:

  • Improved the effectiveness of the client’s pricing strategies and, as a result, increased sales with the help of accurate insights and analytics about their competitors;
  • Enhanced the accuracy and effectiveness of business processes by implementing near real-time reporting;
  • Accelerated time-to-market by setting up the CI/CD pipeline from scratch.
Check
100 years+
years on the market
Check
10,000+
employees
Check
Hundreds of millions
in annual revenue
Location:
USA
Industry:
Retail
Partnership period:
March 2022 - November 2022
Expertise delivered:
Cloud Solutions
Technologies:
Python JavaScript Scrapy, Angular, AWS, Redis, noSQL, Flusk, Docker.
Check
Near real-time
reporting
Check
Microservices architecture
design and development
Check
Web scraping
for collecting information
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