The general average can be found at the top of your Product List view:
This number is calculated as the average of all individual product percentage differences between your store's prices and competitors' minimum prices.
- For Regular Stores (Retailers)
PercentDifference = ((Your Price - Minimum Competitor Price) * 100) / Minimum Competitor Price - For Brand Stores
PercentDifference = ((Minimum Competitor Price - Your Price) * 100) / Your Price - Final Average Calculation
GlobalAverage = ROUND(AVG(PercentDifference)
Find below key details:
- Data Source: The calculation uses data from your products that are connected to competitor products via the "CONNECTIONS" table.
- Price Comparison: For each product, it compares your price against the minimum price from all competitors for the same product.
- Aggregation: It calculates the arithmetic mean (average) of all these percentage differences across all your products.
- Rounding: The final result is rounded to 2 decimal places, and then formatted to 1 decimal place for display unless the value is very close to zero (between -0.1 and 0.1).
- Store Type Logic:
- Retailers: Positive values mean you're more expensive than competitors (losers), negative values mean you're cheaper (winners)
- Brand stores: The logic is inverted - positive values mean competitors are more expensive than you (winners)
- Boundaries: Results are filtered to stay within reasonable boundaries (typically between -500% and +500%) to avoid outliers skewing the average.
The formula essentially tells you, on average, how much more expensive (positive %) or cheaper (negative %) your products are compared to your competitors in the market.