Why is the EAN of your e-commerce products important?
In e-commerce, efficient inventory management and price optimization are key to success. One of the fundamental elements for achieving this is the EAN (European Article Number), a standardized barcode that allows products to be uniquely identified anywhere in the world. Its correct implementation not only facilitates logistics and catalog management but also plays a crucial role in pricing strategies and competitor monitoring.
Throughout this article, we'll explore what anEAN is, what it's used for, what information it contains, the different types available, and how you can get one for your business. We'll also look at howtools like Optimus Price's competitor price monitoring can leverage the EAN to improve your sales strategy.
What is EAN?
EAN (European Article Number) is a numerical code that uniquely identifies each product within the global market. It is represented by a barcode, which facilitates scanning and management in automated systems. Its use is essential in retail and e-commerce because it allows for efficient inventory management, avoids duplication in catalogs, facilitates integration with marketplaces and price comparison sites, and optimizes competitor price monitoring.
What information does an EAN code contain?
An EAN code consists of 13 digits(EAN-13) or, in some cases, 8 digits (EAN-8) for small products. This code contains essential information about the product and its origin. First, it includes a prefix that identifies the country where the product is registered. It then includes a code corresponding to the manufacturer, ensuring that each company has its own range of identifiers. The product code then uniquely specifies the item within the manufacturer's catalog. Finally, a mathematically generated check digit ensures the code's validity and prevents errors in reading it.
Types of EAN Codes
There are several versions of the EAN, adapted to different needs:
- EAN-13 is the most common and is used formost consumer products.
- EAN-8 is designed for small items where thereisn't enough space for a 13-digit code.
- There are also variations such as the ISBN, used to identify books, and the ISSN, used for periodicals such as magazines and newspapers, both based on the EAN system.
How to get an EAN code for your products?
If you are a manufacturer or distributor, you must register an EAN code for each of your products. To obtain one, youfirst need to request a company prefix through GS1, the organization that regulates the assignment of these codes globally. Once you have this prefix, you can generate unique codes for each product in your catalog. These codes should be printed on product packaging or labels so they can be easily scanned.
If you are a seller on marketplaces like Amazon, you will likely need an EAN code to list your products. In some cases, Amazon may assign GTIN (Global Trade Item Number) codes to sellers who do not have their own EAN. However, having an official EAN code is recommended, as it facilitates inventory management and integration with other online sales platforms.
Why is the EAN key for your pricing strategy?
EAN is a fundamental tool for price optimization, allowing you to easily compare the price of the same product across different stores and marketplaces. As it is a unique identifier, its use is crucial in automating repricing strategies, as some platforms can dynamically adjust prices based on the information obtained. Furthermore, the use of EAN codes minimizes errors in catalog management, avoiding problems such as duplicate listings or incorrect prices, resulting in a better shopping experience for customers and greater operational efficiency for sellers.
Using EAN to track competitor prices
In a highly competitive environment, knowing the market price of each product is essential to maintain profitability and improve pricing strategies. Tools like Optimus Price's competitor price monitoring use EAN to obtain accurate pricing information for the same product across various platforms and marketplaces.
Thanks to the unique identifier provided by EANs, this tool allows you to monitor competitor prices in real time, receive alerts when prices change, and automatically adjust prices through Dynamic Pricing. Integrating EAN into these tools allows businesses to optimize their competitiveness without the need for manual tracking, saving time and improving profitability.
Furthermore, using EAN in price intelligence tools allows you to detect market trends, identify business opportunities, and adapt sales strategies based on competitor behavior. This is especially useful in sectors where profit margins are tight and competition is high.
We also recommend reading how to implement a smart pricing strategy
Conclusion
The EAN is not just a simple barcode; itis a key element for efficient catalog management, inventory control, and price optimization in e-commerce. Proper implementation facilitates integration with marketplaces, improves the user experience, and allows you to leverage advanced tools like Optimus Price's competitor price monitoring to optimize your sales strategy.
If you don't yet use EAN in your e-commerce, now is the time to implement it. Not only will it facilitate business management, but it will also give you a competitive advantage byimproving price management and product identification in the digitalmarketplace.
