Competitor Price Monitoring Services
If you’re a retailer selling brands that are widely available, you’ve probably felt the bite of price comparisons. With all the competition out there, including from site like Amazon, consumers are spoilt for choice and will go where the price is lowest, all else equal. How do you counter this? You can outsource eCommerce Competitor Price Monitoring Services to “Outsource Data Services’ and we can help you to track competitor pricing automatically and react in real-time.
You are competing in a market of 12 million players!
The global eCommerce market now contains more than 12 million online stores and this number is still growing at a rapid clip. Along with the developed markets, emerging markets from all around the world are also paving their way towards building a solid eCommerce infrastructure. As a market grows, and when the early returns of first-mover advantages are exhausted, the competition starts to build up. Business must now fight to gain an edge in the market, which contains well-connected and well-informed consumers. In eCommerce, there are several competitive forces that come into play, and the most important and effective force is – Pricing.
Research has shown that majority of online consumers are making buying decisions based on price alone. Consumers will narrow down their options based on the price that is being offered by different retailers. Through competitor price tracking, you are able to know the kind of pricing other businesses are using and then come up with a price structure that works perfect. Custom web scraping is the best solution if you’d like to know the highest and lowest prices being offered in the market and what effect the difference in pricing has on your consumers.
Services we offer as part of our Competitor Price Monitoring Services include the following:
- MONITOR MARKETS: We track competitor prices, products, promotions and perceptions round the clock and alert you to trends as they happen.
- SPOT OPPORTUNITIES: We collect, check and analyze millions of data points across your market so you know exactly where you are positioned.
- TAKE ACTION: Our web based app makes it simple for you to take the right action to maximize margins, boost sales or expand your offer.
- MANUAL TRACKING: A human touch is sometimes just what is needed. When the competition gets insanely intense, and even the slightest change really matters, is when real professionals come in to take it from there.
- AUTOMATED TRACKING: When you can afford to take it easy, you take it easy. Automated (or automatic) monitoring allows you to use an automated system to track the price changes while still maintaining a steadfast edge over the others.
- ANALYZE PRODUCT PRICE HISTORY: We determine the optimal future price of your product by carefully analyzing its price history, and price trends. This can be of use to re-price products dynamically, predict demand fluctuation, and executing product price arbitrage.
- FOLLOW THE LATEST TRENDS: Our competitor price monitoring services includes following the latest product price trends, and providing you with comprehensive price trends analysis reports as well.
- FREQUENT EMAIL REPORTING: Online commerce is a 24/7 game and our team will monitor competitors’ prices around the clock as well. Our competitor price watch experts will provide you with up-to-date and relevant email reports so that you can easily analyze your standing in the market with respect to other competitors out there.
We monitor your competitor’s prices online so you don’t have to
Are your prices too high and affecting sales? Or too low so you’re missing revenue? Do your competitors sell products you don’t? Competitor Monitor tracks your competitor prices and ensures you have the right answers.
- SAVE TIME: Our competitor price monitoring service means there’s no longer the need to spend time watching your competitor’s websites. We automatically monitor prices and products for you.
- MAXIMIZE MARGINS: Getting your pricing strategy right is critical to profitable growth. We ensure you optimize prices so you never go so high that you’re noncompetitive or so low that you’re unprofitable.
- STAY COMPETITIVE: We provide instant reports on the latest price and product changes and trends, so you know exactly when competitors change their offer and know exactly how to react.