Data is at the forefrontIn order to make informed decisions, having an adequate picture of the market in front of you is critical, which in turn requires accurate data, and competitors’ analysis provides this.
Competitor price crawling should not be the only criteria that guides your strategy. But it certainly should be part of that equation. The competition in the e-commerce industry is very stiff.
Determine your position in the industryIn addition to crawling competitors' prices to help you set your own prices, you'll also gain valuable insight into their product range. You will be able to see what products a competitor is selling, what has been selling well for a long time, what has been recently added, and what discounts they are offering. You get a complete set of data - prices, products, stocks. Finally, you will be able to determine your position in the industry: top, middle or bottom-tier and look at the dynamics of your progress.
Dynamic pricingDynamic pricing is an approach to repricing goods based on external factors. With regard to online stores, these external factors are the prices of competitors. There are various strategies for formulating revaluation rules. Price tracking and price comparison provide the ability to independently create sets of rules, ready-made templates or recommendations. Using Price Crawler it will be easier to create the pricing that will be consistent with the overall development strategy of the company.
Competitor's assortment analysisYou need to analyze not just the prices, but also the lineup of your competitors. Price Crawler Software will help you to focus on what products they provide, what they have recently removed or added, and what discounts they offer. Your competitors may be thinking about or already monitoring market prices, including those set by your company. Stay ahead of the game and gain an edge over them.