Did you know that 80% of consumers don’t return to an online store if they can’t find their favorite product? Assortment optimization can be the key to success in this case. In a world where consumers are overwhelmed with choices, curating an effective and attractive product selection is crucial. But how do you determine which products to include and which to exclude? This is where AI-scraping comes in: an innovative data-driven approach to gather valuable insights, allowing businesses to continually optimize their product range and stay ahead of the competition.
Assortment optimization revolves around improving your product offering to make it relevant for your target audience and profitable. It’s about finding the perfect balance between popular products, profitable margins and evolving market trends. By leveraging data insights, you can respond not only to current market demand but also to future trends. With a structured approach, you gain complete insight into the market. Technologies like AI-scraping collect data on product assortments, prices, inventory, reviews and trends, so you always know what’s happening and can make informed decisions.
AI-scraping is a technique used to collect data from various websites. This data ranges from product descriptions and specifications to prices, reviews, discounts and inventory information. With these insights, you gain crucial knowledge for optimizing your product range.
1. Competitor analysis and benchmarking
With modern data technologies, you can automatically analyze your competitors' product range. What products do they offer, what prices do they use and which items are popular? By analyzing this data, you can smartly adjust your own product range and identify new opportunities.
2. Discovering market opportunities
AI-scraping helps identify trends by gathering data from popular marketplaces and comparison sites. See which products are gaining popularity and adjust your assortment accordingly. With constant access to the latest market insights, you can easily take advantage of these opportunities.
3. Optimizing pricing strategy
Price is a significant factor for many customers. By monitoring competitors' prices, you can adjust your own pricing and ensure you remain competitive.
4. Utilizing inventory information
AI-scraping also allows you to track competitors’ inventory levels. If a particular product is often sold out at a competitor, it could be a signal for your company to increase the price.
Effective assortment optimization requires data-driven decision-making. Our advanced AI-technology can turn large amounts of data into actionable insights. A case study:
A beauty products wholesaler wants to expand their product range from 5.000 to 50.000 products. Thanks to our AI-scraping solutions, they identify relevant new products they don’t yet have. This data is collected from marketplaces and price comparison platforms. Additionally, reviews and rankings are analyzed to recognize popular and quality products. Prices are also considered to determine margins based on market prices. Sellers on these platforms are identified as potential suppliers for the wholesaler. With these insights, they know which products to add, which have priority and where to source them.
Assortment optimization is a vital part of a successful ecommerce strategy. By using advanced AI-scraping and data analysis tools, you can always stay ahead. Whether you’re seeking insights into competition, recognizing trends, improving your pricing strategy or optimizing your inventory management – a solid foundation for a data-driven approach will strengthen your competitive position. Would you like to discover how to keep your product range always one step ahead in the market? Contact us today to learn about the possibilities of AI-scraping. We can help you with the right approach and modern AI-technology to outsmart your competitors.
Want to know how we work?
We build and maintain custom webscrapers that turn any website into structured data and insights.
