CHINA/INTERNATIONAL. Beijing-based travel retail technology company Jessica’s Secret has released a new version of its AItracking price-monitoring system that makes it more user-friendly and more powerful.
In version 2.0, the duty free price comparison app’s team of developers has redesigned the front end and updated the system’s performance – which includes data algorithms and logic updates. Some new data computing concepts have also been added.
The changes have been made based on feedback about the current 1.0 version from a number of international brands and retailers who have subscriptions to it.
One key adjustment, for example, is that for the same product, pricing data of more than 200 shops from the Jessica’s Secret database can be displayed and compared at the same time. The average price across the stores worldwide can also be calculated.
The AItracking system displays and calculates SKU prices using two mechanisms. One is the counter/retail price and the other is the price after a discount is implemented by retailers.
What diagou shoppers pay
Jessica’s Secret says it uses every effort to collect promotional information from global travel retailers to estimate the actual purchasing price that consumers pay – including coupons. This also includes actual prices paid by daigou shoppers.
According to the company “excellent suggestions” from some brands have led to the developer team also designing a new statistical panel, which can be outputted into multiple excel formats. This enables further data processing by the internal analysts of brands or retailers.
In addition to single-item information, users can query and extract multi-shop, multi-brand and multi-sku data from 1 October 2018 to the present.
Analysis of more complex promotions
Looking ahead to the next stage, a Jessica’s Secret spokesperson said: “We are now in the process of developing a more advanced AI programme of semantic parsing that analyses more complicated promotional campaigns such as ‘Buy 3 get 1 free’ or ‘Buy 1000 get 200 off’.” This addition is expected to be available by the end of August, The Moodie Davitt Report understands.
Jessica’s Secret says that the rapid recovery of the offshore duty free business in Hainan, China after the COVID-19 crisis, has led to rapid growth in user usage – but the company has continued to focus on deeper data research. It has established OTRO, a joint organisation with a Chinese securities research firm and law firm and, at the same time, is also studying other travel retail data, including related social media-monitoring products in travel retail.
