Monitoring competitors’ prices is one of the key marketing tasks. It is useful for successful business in the market. It is also possible to gain the maximum number of customers with the help of monitoring. Dynamic analysis is best done with the competitor price parsing procedure. By the way, usually I use uxprice.com for monitoring and analysis purposes. I recommend you to check it!
Why do I need a competitor price analysis?
Price monitoring is regular or, in other words, constant tracking of market changes, studying trends (future forecast), comparing competitors’ prices and detailed analysis of the latest figures.
A company’s price policy is one of the key points that directly affects the success of the business. The analysis of competitors’ price changes and variations of cost parameters is a very important stage. The depreciation factor, which leads to lower costs for the same products you provide, will have a negative impact to the point that potential customers may choose another e-commerce site to shop online with more attractive prices.
According to the study, 81% of U.S. shoppers consider pricing to be an important factor in choosing a website to work with. At the same time. 85% of young users (the category of consumers under the age of 35) prefer to compare offers from different merchants online, while making some purchases from their handheld screens.
Now there is a wide range of useful online services for tracking competitors’ prices and other parameters, by filling in information about the product group of interest. As a result, a network user who tried the price parsing procedure would get a report with a dynamic analysis of competitor companies. In addition to the described options, a forecast of price deviation with the available cost dynamics is formed.
Thus it is possible to offer the most competitive prices on the market and to attract more and more clients. Automatic parsers are able to analyze prices several times faster than the manual analysis procedure allows.
Online tools for competitor price monitoring — online analysis
Competitor price parsers will be useful both for those who are just planning to open an online store and for owners of already operating commercial websites. Such services analyze online stores, price lists and information collected on e-commerce platforms. Among the relevant options is the ability to find competitors on a set of parameters: product description, brand, model, etc.
There are many services on the Internet that offer price analysis of online stores, such as uXprice, which conducts daily tracking of competitor prices.
The Xprice service is much more than parsing competitors’ prices because it will provide you with important daily analytics:
A report on items that are underpriced or overpriced;
pricing recommendations in line with your pricing strategy;
a summary of your competitors’ price changes;
notification of new competitors for each item;
analysis of your pricing position in relation to your competitors.
uXprice has done everything to provide customers with the easiest launch process possible. You don’t need a programmer or a separate setup specifically for your store.
A simple interface, everything is intuitive, informative in its content and accurate in its validity.