Luz Data is tracking competitor sales data from 200,000 sites across the globe. They are crawling sites, checking inventory counts, and then using some basic math to understand how much product each company is moving on a daily, weekly, monthly basis, as well as by SKU, by variant, and all sorts of other breakdowns that can help you make decisions in your business.
This tool is absolutely amazing, almost in a scary way. If you sell leggings, you can see when your largest competitor is getting low on inventory and/or sells out, and from there you can ramp up ad spend, hike up prices, or make other changes to capitalize on the changes and inefficiencies in the market.
They pixel your site and help analyze your customers as well as help you build attribution modeling breakdowns and understand true revenue by channel. All of your data is stored privately and not used in their competitive tracking software - which only pulls publicly available data sources.
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
The number one brands come to Luz is for tracking sales volume and inventory counts of their competitors. I haven’t seen other pricing tracking or competitive intelligence tools properly track this data, so it is super unique to them.
Luz helps smart marketers and Ecommerce teams maximize the value of their campaigns. The increase in efficiency of your ads, knowing when to ramp up/ramp down spend will increase the return on ad spend, can increase top line revenue, profit margins and even increase sales during the holiday season.
Typically the head of Ecommerce, Chief Marketing, Directors of Merchandising, directors of product, mostly talking with executive teams and those making profitability and financial decisions. You can close with Luz and start working with them within a day, but you’re probably going to spend a week or two working through their platform and making a decision to purchase.
To get setup, it typically takes less than a day to get up and running, and a maximum of a 30 minute call.
Once setup, you can share all the data with as many employees in your company as you’d like. They can login, check emails from competitors, check pricing, check stock levels, etc. Some users, like directors of merchandising, may be coming in once a day to check changes of competitor inventory. Others may come in weekly or monthly simply to check status of competitor campaigns. And they have a robust notification system that cans end emails or Slack messages to give the key insights you want right in your inbox or to help notify the team of a competitor sale, etc.
Luz is right for larger merchants in relatively competitive spaces like fashion, beauty, skincare, automotive, etc., etc.