One of our greatest concerns is increasing our catalog of products in order to keep offering our customers a wider assortment. This involves releasing more than 10,000 products in 25 markets on a weekly basis, which means that we have to deal with 250,000 new prices every week. To do so, we mainly worked with a system of pricing by categories, in which improving accuracy in terms of pricing was, to be honest, quite complicated and we lost so many opportunities to gain a bigger margin.
With netRivals we have managed to get a higher percentage from all our catalog, connected to the prices of our competitors in all the markets. Something which helps us set a far more accurate pricing strategy. We have been able to get rid of lots of Excel files with prices along with the manual procedure. Therefore, we have gained time to be spent on strategy, analysis on market movements, as well as on the decision-making process.
Now we can accurately tell in which products we are the cheapest and strongly invest in them, given the fact that conversions significantly increase at better prices. A remarkable improvement has also been made in the purchasing department because thanks to the real-time information on the pricing actions of our competitors we haven been able to negotiate in a more effective way. netRivals flexible and adaptable solution is critical for us to manage our pricing in such a competitive sector as Pet Food.
We've been working with netRivals from the very beginning (2016) and we cannot say we have any complaints about its service and features.