Englewood Cliffs, N.J. – LG Electronics USA has partnered with data analytics firm Ugam to monitor street pricing of its CE products.
The New York-based business scours e-commerce sites, marketplaces and comparison-shopping engines for unauthorized sales activity, and it monitors display prices, in-cart prices and shipping prices for MAP violations.
“We seek to understand prices that can change by the minute – from list prices to sale prices to in-cart prices – and deliver a consistent, positive experience to our customers,” said Stephen Coppola, LG’s home entertainment channel marketing director. “We turned to Ugam because they’re offering large-scale, real-time price monitoring combined with analytics services that help us understand the data. With Ugam’s support, our channel partners will be confident that our pricing policy is fostering fair competition in the marketplace.”
Added Ugam co-founder and chief innovation officer Mihir Kittur, “Brands like LG want to reduce potential pricing confusion for consumers during the buying experience. At the same time, their channel partners want to know that competitive pricing is fair.”
The company said its Brand Intelligence solution combines big data with predictive analytics to detect non-compliant pricing, down to the level of SKU variations in style, color and size, to help companies enforce their pricing policies. For more information, visit UgamSolutions.com.