myEDITED: How Are Products For Price Adjustment Opportunities Identified?

To determine what Opportunity a product falls into, we first assign every product a trend classification. 

• Trend classification is determined based on performance factors gathered from the products (e.g. newness, discounting, replenishments) to identify it as either a top mover, struggling or clearance. 
  • Top mover: Product is less than 120 days old, has had price increases, a sell-out event, and/or restock. 
  • Struggling:  Product is more than 120 days old, discount is greater than the first discount. 
  • Clearance: Product is more than 120 days old, has had a sell-out event with no restock and/or discount greater than first discount.
  • Core performer: Product is more than 120 days old with no sign of being on clearance.
  • Neutral: Product is less than 120 days old and neither a top mover nor struggling.
    
    

For the increase/decrease Opportunities, we look across your assortment and your key competitors’ assortments to understand where you have similar products. Depending on their trend classification and whether your products are priced higher or lower than your competitors, we recommend product candidates for a price adjustment.

• Pricing increase products: Products that have a high trend classification but are priced lower than your competitors
• Price decrease products: Products that have a low trend classification but are priced higher than your competitors

To help determine where product groups should sit, we give each product a match score and plot them on a uniqueness-performance graph. The match score uses both images and text (product name, brand, and description) to score each option based on its individual attributes.

We then search for matches by isolating options that are plotted near one another on the graph. EDITED leverages a proprietary normalized score from 1-100 to assess the strength of a predicted matched option to its baseline option. The higher the score, the closer the match.

Match Score

Decrease: Products to consider for a price decrease to drive revenue and clear inventory.

Increase: Products to consider for a price increase to drive profit.

You can view the product matches used in our Increase and Decrease opportunity algorithm by clicking More analysis when an opportunity has been selected.

Click on the desired product image in your table view within your selected Opportunity to see the products matched to the baseline product. 

• Use the arrows at the bottom of the image to scroll through the products EDITED considered as matches for the baseline product.
  
  

Click the Detail View tab to view each product match’s price, brand, retailer, product description, and more, as shown in the GIF.

Click the product title to go directly to the product detail page in EDITED Market for further information.