Tumblelog by Soup.io
Newer posts are loading.
You are at the newest post.
Click here to check if anything new just came in.

December 05 2014


How Retailers Benefit from Competitor price monitoring

In today’s very dynamic online marketplace, retailers are doing all it takes to get the most customers.  Competitor price monitoring  has become an important solution to retailers especially eCommerce businesses which want to make critical decisions on pricing. The process of monitoring competitor prices affects sales and profits and that’s why it must be done right. Everyone can see how their competition prices products and make changes that will prevent loss of sales. Let’s look at several reasons why retailers invest in web scraping solutions to stay in business.

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.

Other than obtaining pricing information, custom web scraping can also give you data that helps you to come up with an effective marketing strategy. For instance, you may notice that lowering your pricing by a single percentage can bring you significant selling success. These slight changes in pricing may not seem to make a difference, but in the long run they generate impressive sales.

Retailers use  competitor price tracking  in order to understand the market. It’s impossible to perform a thorough market research without knowing what prices are being offered by your competition for similar or related products. Retailing is very competitive and the savvy business people who take time to look into the right price points are always going to make the most sales.

Successful retailers always understand the importance of distinguishing themselves using more than just price. You may not offer the lowest price, but using  web scraping  can help you define a different model which will make you distinctive. If you are going up against very heavy competition, it’s important to set up a business model that is completely unique even if the prices are almost similar. Remember that not all effective business strategies are price-based.

As much as it is very important to provide consumers value, you will only boost profits if you can afford to price products as low as consumers want. Since consumers will be attracted to the proper pricing first, they are going to notice the value of your products and this will make your business succeed.

The bottom line is, selling online can be very difficult especially if you don’t want to take pricing into account. Being aware of your competitor’s prices will place you in a better position and ensure you are always ahead of your competitors. Web scraping solutions are effective and only take seconds to derive all the information you need about your competitors. Don’t be among the retailers who are not aware of how their competition is pricing.

We at ITSYS Solutions specialize in web scraping & competitor price monitoring services since 2006, have scraped thousands of websites providing our clients from North America and Europe with data in formats as per their requirement.

For more information, please contact us on info@itsyssolutions.com or call us on any one of the following below

India: +91-9654653433
US & Canada: (518) 481-3433
UK: 020 3239 7570
Web: http://www.website-scraping.com

July 12 2014

Older posts are this way If this message doesn't go away, click anywhere on the page to continue loading posts.
Could not load more posts
Maybe Soup is currently being updated? I'll try again automatically in a few seconds...
Just a second, loading more posts...
You've reached the end.

Don't be the product, buy the product!