Automatic or manual Matching
Product Online
Product Online is a Chrome extension created by Optimix that lets you compare prices directly from your competitors’ websites, as well as :
- View the evolution of their prices compared to yours
- Compare their products with yours (price positioning, price difference, best site)
- Modify the selling price of your products in one click (with the Pricing module)
Different methods for calculating proximity scores
In this module, we provide you with different proximity score calculation methods to guarantee the accuracy of your product matching.
These methods take into account several criteria such as codes, labels, EAN codes, etc. They can be used to accurately determine the similarity between products, making it easier to search and compare them.
You can also adjust the weights assigned to different criteria to obtain a customized match adapted to your pricing strategy.
Product differentiation
The solution enables identical, comparable and coefficient-comparable products to be differentiated. For example, if you sell products with different capacities, our solution will take these differences into account. This will help you determine appropriate prices based on the specifics of each product. The solution also allows you to adapt your pricing strategies by taking into account variations in capacity. It also takes into account variations in quality, brand, or other relevant factors.
Simplified product search
We understand the importance of having a complete catalog to perform accurate matching. Our matching module integrates your entire catalog. Which makes it easier to search for products using criteria such as codes, labels, EAN codes, etc. You can thus quickly identify the relevant products for your pricing analysis.
You can sort and search the competitor assortment and customize sorting criteria such as price, popularity, availability, etc. This allows you to analyze your competitors’ assortments efficiently and quickly find the products that interest you.
New Product Management
The module has a new product monitoring feature that allows you to quickly detect new products on the market. You can display these products as a priority and alert the product teams. Thanks to this alert they will be able to take appropriate measures. This helps you stay up to date with market trends and react quickly to changes in the competing assortment.
Dictionary and nomenclature
To facilitate product matching, our solution integrates a dictionary that translates abbreviations commonly used in product descriptions. This helps reduce matching errors caused by differences in terminology, and ensures precise correspondence between products.
Cascade Matching
Some industries use specific codes to identify their products.
Our module supports so-called cascade matching, enabling different types of code to be managed, such as EAN 13, CIP 13, CIP7, etc.
You can create cross-reference tables to ensure a precise match between these different code types and the associated products.
Testimonials
« Optimix XPA is a very interesting tool. It has already allowed me to identify and correct pricing anomalies shortly after taking over my new store in Nice. I have just discovered that I can automate the generation of my analysis projects. I can't wait to use it for my other local stores. »
« Optimix is a highly effective pricing tool that enables us to adapt our pricing to our competitive context and margin objectives. Optimix offers the option to work at the item, category, or even based on national top sales, either individually or simultaneously, as well as on private label products, national brands, and regional products. »
« The Optimix Pricing XPA solution enables us to track the daily fluctuations in internal purchase prices as well as our competitors' selling prices so we can swiftly adapt our pricing strategy to ensure we achieve our desired margin or gain a competitive edge in the market. »
*6 months after deployment in 45 stores.
They trust us
FAQ MATCHING PRODUCTS
FAQ 1: What criteria do your algorithms use to compare my products with those of my competitors?
We start with the product from your own repository and compare it to the vacuumed information. Several comparison criteria are taken into account: wording, price, nomenclature, characteristics, etc.
FAQ 2: What are the main challenges of product matching in retail?
Product line complexity
Retailers can have a wide range of products, and each product can have many variations. Identifying the exact match between two similar products can be difficult.
Variability of product descriptions
Different retailers may use different terminologies or abbreviations to describe the same product. This makes matching difficult. For example, a built-in dictionary would be needed to translate commonly used abbreviations.
Differences in product codes
Some industries use different types of codes to identify their products, such as EAN 13, CIP 13, CIP7, etc. Matching these codes requires a cascade approach.
Products without direct correspondence
Some products, such as private labels (Private Brands), may not have exact equivalents among competitors, requiring manual matching based on a proximity score.
Constant inventory update
With the constant addition of new products to the market, a monitoring system is necessary to quickly detect these new products.
FAQ 3: What are the benefits of an effective product matching system?
An effective matching system offers several major advantages for retail brands:
- Competitive pricing – By accurately identifying competing products that match those in your inventory, you can adjust your prices accordingly to stay competitive.
- Effective competitor analysis – With effective product matching, you can quickly compare your competitors’ product ranges, enabling more in-depth market analysis.
- Reactivity to new products – An efficient monitoring system alerts you to new products entering the market, enabling you to react quickly.
- Reduce errors – Thanks to tools such as the integrated dictionary, matching errors due to terminology can be reduced.
- Strategy customization – With proximity score calculation methods, you can adjust the criteria according to your pricing strategy, guaranteeing customized matching.
FAQ 4 : What techniques are commonly used to improve product matching?
Use of unique codes: EAN codes are commonly used to uniquely identify products, facilitating automatic matching.
Integrated dictionary: translates abbreviations and common terminology, reducing matching errors.
Cascade matching: This technique manages different types of code to identify products, enabling precise matching between different types of code.
Proximity score calculation: This method takes into account criteria such as codes, labels, etc., to determine the similarity between products.
Product differentiation: The tools enable you to distinguish between identical, comparable and coefficient-comparable products, taking into account variations such as capacity or quality.
New product monitoring: Monitoring systems quickly detect new products on the market, enabling retailers to stay up to date with market trends.
Thus, by combining these techniques, retailers can obtain a robust and efficient “product matching” system.
FAQ 5: How does the proximity score calculation work?
The proximity score module uses different calculation methods to evaluate the similarity between products. These methods take into account various criteria such as codes, labels, EAN codes and many others.
The aim is to make it easier to find and compare products. In addition, you can adjust the weights assigned to different criteria to obtain a matching adapted to your pricing strategy.
FAQ 6: Is the "Cascade Matching" feature suitable for all business sectors?
This feature is designed to handle different types of product codes, such as EAN 13, CIP 13, CIP7, etc.
These codes are commonly used in various industries. Although we have integrated a wide range of codes to cover as many sectors as possible, we recommend that you contact us directly to discuss your specific needs.
Our team is always ready to work closely with you to ensure successful integration into your field of activity.
