Decathlon competitor price monitoring tactic
May 5 2023
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Decathlon prices its products competitively to its competitors and acts on its mission of lowest prices for quality sports goods. Here's how.
Pricing is one of the most powerful ways to position your brand. Pricing a product or service is primarily based on the customer's perceived value of the product and never on what the product costs. Decathlon's mission is to sustainably bring the power of sport to everyone, everywhere, hence pricing products at lower margins than other retailers is key to position the decathlon brand consistent with their mission. This way, the low prices are able to attract more customers to make purchases as well!
Inspired by Decathlon's mission? Here's how you can price your products lower than your competitors:
- Install Konigle to your Shopify store.
- Go to Konigle's Competitor tracking tool.
- Enter the URLs of competitors you would like to track and Submit the request.
- After you have begun tracking, you can check to see if you have overpriced or underpriced your products then reprice them with the same tool.