Summary
- Monitoring competitors’ email campaigns and promotional activity in your market is essential but time-consuming.
- Tracking competitors’ email and homepage marketing activity historically and in real time helps optimize calendars, pricing, and product assortments to refine strategies for better results.
- AI-powered retail technology can collect this data, saving you time and providing analysis across channels.
Sifting through old emails, newsletters, and other promotional materials just to see when, where, and what your competitors are promoting is exhausting. And, let’s face it, you don’t have the time in your day to thoroughly conduct these searches.
However, one key strategy for gaining an edge in the increasingly competitive retail space is to closely monitor and analyze your competitors’ promotional activities, both historically and in real time.
By monitoring your competition closely, you can gain insights into successful promotional campaigns, discounts, and marketing tactics that resonate with your shared customer base.
This knowledge can help refine and enhance your assortment, pricing, and site merchandising strategies.
AI-powered retail intelligence is the key to unlocking these valuable insights, providing a comprehensive view of trends and campaigns across various channels, including emails, web pages, and category landing pages.
How Does a Retail Intelligence Solution Help?
Say goodbye to sifting through countless emails or manually scanning web pages. AI-powered retail intelligence automates this process, making it easier and faster to extract valuable insights.
You can access a content library curated for you and filter for channels, categories, regions, retailers, keywords, dates, and genders. Here, you can analyze trends and campaigns advertised across competitor email communication and messaging on retailers’ direct sites.
With an AI-driven competitor tracking tool, you can:
- Visualize how competitors position their products across their promotional and marketing activity.
- Analyze your competitors’ campaign archives to understand the promotional activity of the wider market.
- Understand how marketing for holidays, products, seasons, trends, and themes differs across time and regions.
- Examine which days had the highest mention of keywords and on what dates retailers started communicating about them.
When, Where, and What – Analyzing Competitor Strategies
When Do Competitors Send Promotions?
By tracking when players in your space run promotions, you can align your own promotional calendar to maximize impact.
For instance, if you notice a competitor consistently offers discounts just before major holidays, you can plan your promotions to coincide with these peak shopping periods or launch earlier to capture attention first.
Monitoring discounts across the industry allows you to adjust your pricing to remain competitive, or to strategically position yourself as a premium or value brand based on pricing in your market.
Where Are Competitors Promoting?
Knowing where your competitors promote their products — whether through email, social media, or homepage banners — provides insights into their market positioning.
If a competitor heavily emphasizes email marketing over paid ads, it may indicate that direct engagement is driving more sales. Understanding this preference allows you to adjust your marketing and sales channels accordingly to remain competitive.
What Products Are Competitors Promoting?
Analyzing what products your competitors promote helps you enhance your assortment strategy. You can identify which products or categories competitors in your space (and customers) prioritize and which ones they may be trying to clear from inventory.
This information is invaluable for making decisions about your own product assortment and inventory management.
Conclusion
Analyzing your competitors’ email marketing campaigns and other promotional activity provides critical insights into promotions, pricing, and product trends, enabling you to stay competitive and adapt to changing market conditions.
As a retailer, it’s time for you to embrace an AI-powered retail intelligence tool to stay ahead of the competition and, ultimately, deliver a more satisfying shopping experience for your customers.
Ready to unlock competitive insights and optimize your strategy? Request your demo today and see how EDITED can take your ecomm strategy to the next level.