How to carry out the competitors' prices monitoring performed in the market
What the competitors' prices analysis is necessary for?
The price policy of the company is one of the key points that has a direct impact on the aspect of business success. The analysis of competitors' prices changes and variations of the cost parameters is a very important stage to complete. The depreciation factor that causes the costs reduction on the same goods you provide will have the negative consequences, to the point where potential clients can choose another e-commerce site for online shopping where prices are more attractive.
According to the research, 81% of American buyers consider the price policy as the important factor when choosing the website to deal with. At the same time. 85% of young users (the category of consumers in age up to 35 years) prefer to compare the different sellers offer on the Internet, while making some purchases with the help of pocket screens.
Now there is a wide range of online helpful services to monitor competitors' prices and other parameters, by filling information concerned the commodity group of interest. As the result, the netizen, who tried the prices parsing procedure, would receive the report with the dynamic analysis of the rival companies. Besides described options, the prices variance forecast with the available dynamic of the costs changes is generated.
It is possible to offer the most competitive prices in the market and gain more and more clients in this way. The automated parsers are able to analyze the prices several times faster than the by-hand procedure of analysis allows.
Online tools for competitors' prices monitoring – the analysis on Internet
Let's take a more detailed look at some available online price parsers:
At the same time, the in-warehouse quantity of goods and their purchase value are taken into account. The dynamic pricing increases the sales efficiency of the online store. The free pricing plan for the prices monitoring analysis of one competitor is provided in Priceva rates table:
There is a 14-day free trial period in the Competera service. Several separate software products developed for monitoring of the market, the competitors' analysis process, pricing management, and optimization are presented for users.
Google Chrome browser extension is also accessible for consumers. It is possible to get the following information with extension installed (while visiting the website of interest):
- the goods prices both in own online store and on the competitors' websites;
- percentage ratio of costs;
- last update date of the of the prices;
- monthly schedules/diagrams of the change in price.
This service can be used according to individual requirements taken into account. Some clients monitor more than 500 thousand goods items on dozens of websites of interest, while other users prefer to compare parameters of several goods on 500 different resources. It is possible to monitor the prices in different currencies, to specify the regions of the analyzed competitors' websites.
Price2Spy service allows to integrate the flexible change in price mechanism on the website from CMS online store directly. The alternative option with the use of the FTP-client and the CSV-file is offered. This variant will be helpful because it would contain necessary data on the prices. The service sends this file to the client's email.
This online tool can be used within 30 days free of charge. The only stipulation to get the free pricing plan is to pass the registration procedure. Let's choose English, our country, a business type, and fill the gaps with the contact information. It is available to add competitors to the special fill-in-blank field. The final step is to press "Register" button.
- internal identifier;
- other information on a product.
Each product can have up to 100 competitors in uXprice database, which is updated on a day-to-day basis. Competitor's pricing monitoring is possible for 36 countries.
The software comes with some practical features, including the following ones:
- Parsing competitors' prices
- Dynamic Pricing
- Competitive pricing analysis with export reports to XLSX, CSV, PDF
- Retail pricing optimization and price recommendations
- Pricing Intelligence
- API integration.
Noticeably, uXprice is suitable for different retail companies, offering 4 different plans to choose from.
Upon your free trial activation, the service gives you 100 credits daily, once they are gone, you will need to upgrade to keep using uXprice.
Online parsers usage allows to save time that is necessary for regular prices monitoring, researching competitors' special offers and goods availability on the rival websites. It is possible to configure automatic change of goods items prices on the website with the help of these tools. The suitable pricing strategy will be taken into account.
This article is a part of Serpstat's Checklist tool
|Try Checklist now|
Learn how to get the most out of Serpstat
Want to get a personal demo, trial period or bunch of successful use cases?
Send a request and our expert will contact you ;)
Cases, lifehacks, researches and useful articles
Don’t you have time to follow the news? No worries!
Our editor Stacy will choose articles that will definitely help you with your work. Join our cozy community :)