Price monitoring does not always mean lowering prices to match the competition. In a situation where your competitors are out of stock of a given product, dynamic pricing may suggest a price increase . What other benefits do price monitoring and automation offer?
The panel provided by the Dealavo platform allows you to compare your offer with your competitors. See what it looks like on the example of an electronics store:
Automatic tracking of competitors’ prices
In this case, the most important competition of the analyzed store is the tanitelewizory.pl store. Both stores offer as many as 950 common products, and the analyzed store sells nearly 75% of them at a higher price. Such an analysis allows you to check the competition and adjust your prices to market realities.
As You Can See the Tv is Offered at the Same
But it is not everything. In the Dealavo tool, you also have the Whatsapp Data opportunity to check the competitiveness of prices for a specific product sold in multiple channels. The graphic below shows a comparison of store prices on various websites:
competitor price tracking tool Dealavo
As you can see, the TV is offered at the same price on Allegro and Ceneo, but the offer on Google Shopping is PLN 5 more expensive. The Dealavo tool is therefore extremely helpful in establishing a pricing strategy for a given sales channel.
Price monitoring is a huge challenge for all e-commerce entrepreneurs. However, this process can be made much easier by using clever tools based on intelligent algorithms.
Price Monitoring Does Not Always Mean Lowering
The article was created thanks to cooperation with Dealavo. Dealavo is a company BI Lists offering e-commerce analytics solutions for online stores and manufacturers.
He specializes in price monitoring and automation software for e-shops and DPSM (Distribution, Pricing, Shelving, Merchandising) solutions for manufacturers. Dealavo offers its services on 32 markets, cooperating with both international enterprises and local market representatives.
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