More than 50 million revaluations were made by Russian and European marketplaces using Getrealprice system

Russian and European marketplaces have made more than 50 million revaluations of goods since May 2019 using the MarketPrice system developed by Russian company Getrealprice.

The tool MarketPrice allows to automate price changes by the results of monitoring on goods of online stores. The MarketPrice system, working on simple linear mathematical formulas, allows adjusting for regular and sudden re-evaluation of the goods, reducing the management expenses to zero, and increasing the probability of sales for goods, which are represented on the market on more than one site.

The new MarketPrice system monitors in two steps:

1. Configures the monitoring of the prices of goods duplicates on the specified sites;

2. Then, when the prices of these products at other sites change, it calculates the optimal price for the customer's online store.

"MarketPrice in operation is not more complicated than a calculator, on which it was made similar. Any employee is able to manage it intuitively, and additionally can be trained in Getrealprice's office by an extended program at the "Price Monitoring Specialist" training," said Nikita Mikhailov, General Director of the company.

About the company

Getrealprice is a service for monitoring the prices and assortment on the Internet with further processing of the obtained data in its software in order to establish the optimal daily price for each product in any online store.

The company is among the top five companies in its sector in the Russian Federation, with Getrealprice being the leader in Moscow. For the last 3 years, the company's sales have grown by more than 20%, while its domestic market share is more than 30%.

Getrealprice works both with Russian companies to support competitive operations in the local market, and with foreign companies to facilitate the rapid operational expansion of the range of global exporters to other markets.

Products

The company constantly launches new products and solutions that are developed based on the business needs in today's reality. Getrealprice services significantly differ from the offerings of consulting companies and system integrators in that they are self-contained, easy to implement and error free. Getrealprice's service is easily managed by a mid-level e-commerce employee. In addition, the company trains its product - both independently and through partner business schools.

The service has a number of areas (Diy and Household, Fashion, Ce, Beauty & Parfum, Sport), for each of which a set of offers has been developed:

• Manufacturers: monitor resellers' compliance with the recommended retail price;
• retailers: monitor their prices along with the prices of their competitors;
• Marketplaces: monitor their own and their competitors' prices and set quoted prices automatically.

Technologies

The Company uses a number of technologies to implement its activities:

• proprietary registered software and Databases (DB) to compare prices of goods in online stores;
• Traffic management: management of request traffic, database load, conversion rates and queries;
• human behavior emulation: robots that process prices are able to adapt to human behavior in terms of listing algorithm and content loading;
• has its own physical farms for parsing in different countries, being a Russian alternative to Crawlera, GeoSurf, and Luminati;
• applies its own tool for product classification of a large and fragmented assortment cluster, which allows managing any commodity nomenclature, including specific ones (pharmaceuticals, automotive spare parts);
• GAN and CNN neural networks are actively used, in particular to create new product designs or, for example, to emulate human behavior (Skectfinder products, Gan-designs, GetRealPosition).

Export

The company's current clients are mainly large businesses, such as SportMaster (Russia, CIS, Europe), Nestlé, Decathlon, Kastorama, Lamoda (Russia, CIS), TechnoNicol, Austin, and Laetail. Among the company's government clients are Export Support Centers of Eastern Europe.

Since 2014, Getrealprice has been exporting software to major retailers in Germany, Austria and Switzerland. In particular, it cooperates with the German company OBI.

The annual export turnover of Getrealprice is about 50 million rubles.

Plans

In the near future the management of the company intends to increase the number of large customers both in Russia and globally. To this end, it plans to take a number of strategic steps

• continue to invest in the company's system technologies;
• register new patents (in the USA and South Korea) in addition to the technologies of RetailMaster, MarketPrice, and Gan-Designs;
• to train500-2000 Company's clients and trainees of business schools annually;
• to implement new application products for the clients planned for autumn-winter 2020;
• expand presence in European markets;
• enter the Moroccan, Indonesian, and Singapore markets, focusing mainly on international export support services.