Competitor Pricie Monitoring

Monitoring the prices of competitors on the Internet will collect all the current prices from sellers’ websites. These prices may not be current – archival, in another currency, with errors…

Revaluation rules must necessarily take into account restrictions on the minimum price.

Regardless of the price of competitors, your price should be set at the level of purchase plus markup, cost-effective to sell this range.

Also, we recommend that you contact your supplier for assistance. He can find out what product your competitor is selling with the help of a control purchase. According to the results of the purchase, information about the trade in counterfeit or parallel imports often pops up. You can also use our  control purchase service  to find out the reasons for competitors’ dumping.

To get the best value for money from our price monitoring, it is worth consulting with our experts. We will help you select exactly those products for scraping that are most important for the systematic collection of their prices. With the choice of competitors, too, there is experience in helping. We will make tangible discounts for large volumes of monitoring.

For a timely response to price changes in the market, you need to set up automatic revaluation of your own goods.

It is this task that our competitor price monitoring service solves.

We will set up a regular collection of prices from your competitors. You write down the rules for the revaluation of goods. Our system will automatically re-evaluate and upload new prices to your website.

Order price monitoring does not take much time. You fill out the application form – enter your nomenclature and platforms for price comparison.

The setup time depends on the number of your products and the number of competitors’ stores. The average set up time does not exceed fifteen business days from the moment we receive your application.

The competitor’s price parser is configured to collect information that is in the public domain. Online stores and marketplaces do not hide their prices for goods. On the contrary, they advertise them on various price aggregators, in search results, on banners…

Price parsing is legal. The only limitation is the quality of the parsers themselves and the frequency of parsing competitors’ prices. When tracking prices, it is important not to create an excessive load on the servers of Internet sites.

The only thing we can offer in this situation is to increase the frequency of monitoring prices of competitors. We can track their prices every hour. It makes sense to make very frequent monitoring of competitors’ prices for several days – a week.

During this time, we will be able to calculate the repricing system for goods by your competitors and set up our own repricing.

Offline monitoring of competitors’ prices is carried out by people who fix price tags on the shelves and transfer this information to electronic form. The process is long, labor-intensive, and not always safe.

Online monitoring is done by a program – a parser of competitors’ prices. Automatic monitoring of competitors’ prices by the parser is done without human intervention, on schedule, very quickly. The data is already received in electronic form – convenient for further processing.

Competitive price analysis and own revaluation also does not take much time.

In order to monitor the prices of competitors, you need to identify them, to understand for each category of your assortment, which site is your real competitor.

Recently, marketplaces have received a lot of development. It makes sense to check the availability of your products on these sites before determining the control points.

Then you just give us a list competitors and we set up regular marketplace monitoring and online stores .

Our packages are tied to the total volume of competitor price monitoring. The number of conditional positions for tracking prices is determined by multiplying the number of competitor sites by the number of positions in monitoring. For repricing, we do not take separate money. It is done automatically according to the rules you set.

Cutting prices to eliminate competitors from the market can work for a very short time, while customers see new prices and competitors trade at old ones.

All your competitors are constantly monitoring your prices. In an hour, they will know that you are dumping and will lower their prices to your level or even lower.

This can happen over and over until you hit the bottom of your sales margin. You won’t be able to earn much.

Manufacturers and suppliers of goods also regularly monitor online stores for compliance with their pricing policy in the Internet channel. They can completely stop shipping their goods to dumping stores.

The Internet is a single system around the world. There is no fundamental difference whether it is parsing the prices of marketplaces in the USA or monitoring the prices of competitors in Ukraine. Of course, there are separate features of regional markets, but the basic principles of online trading are the same everywhere.

There are big differences in the protection of intellectual property on the Internet. In the European Union and Ukraine, the principle of exhaustion of the rights of the TM owner after the first sale of their goods is in effect.

Any seller has the right not to comply with the manufacturer’s recommendations regarding product sales prices.

In a number of other countries, such as the United States, the copyright holder may prohibit any seller from trading his TM to protect the brand on the Internet.

Competitor price analysis is the most effective competitive pricing tool for online stores and merchants. It allows you to timely notice price changes in the market and make your own repricing.

Price analysis of competitors is a mandatory mechanism for implementing dynamic pricing in retail.

In order to properly combat the dumping of competitors, it is necessary first of all to find out the reasons for this situation. You can read more about this problem and how to solve it in our article “Dumping from A to Z”

True. Online stores, for example, can adhere to the supplier’s MАP on the pages of their resource, and put the price much lower in an advertisement on a price aggregator. They use this technique to attract additional traffic from the price aggregator, in the hope of persuading the buyer to purchase the product from them at the recommended price.

We recommend that all our clients monitor the prices of marketplaces and online stores and, at the same time, order price monitoring of price aggregators from us.

Competitors’ prices are collected automatically. The price parser goes to the sites of your competitors on a schedule and collects on the pages the information that is needed for analysis. This information includes price, product availability, stock availability, free shipping…

The next step is to compare the received data with the information on your website and form recommendations for competitive pricing.