Real competitors
Use case
"I never realized that the real competitor of Nespresso compatible coffee pods was in fact Lipton tea bags... thanks to Holocene I do now..."
Invariably, competition is a constant in the business landscape. Competitors may offer products similar in appearance, aimed at addressing analogous challenges, or even targeted by customers using identical search terms. Crucially, it is the customer who ultimately determines a product's worthiness for purchase. Hence, the Holocene algorithm transcends traditional proxy metrics such as aesthetics, price, shared pain points, or keyword overlaps in identifying true competitors. It focuses instead on analyzing sales dynamics, pinpointing products that detract from your sales and providing a clear rationale for such findings.
Case study: compression gloves
This approach is exemplified in a specific analysis where the algorithm conducted comprehensive competitor research. It uncovered a direct negative correlation between another product's sales history and its price changes, affecting the client's sales performance. Recognizing this, the algorithm flagged the competing product for closer scrutiny and informed the Holocene client that in 33% of instances, a price alteration of this competing product influenced the client's product sales dynamics. Consequently, the competing product was incorporated into the pricing strategy as a critical factor, with ongoing reference to its sales data for informed future price adjustments.
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