Of course, prices can also be monitored manually. However, such analysis is extremely time-consuming and does not have a high success rate. Before you can complete a manual report and draw conclusions from it, your competitors’ prices may have already changed. As a result, manual reporting is a Sisyphean task.
To effectively monitor prices, you need to take into account a number of data:
promotional activities carried out by competitors.
Dealavo’s automatic price monitoring tool allows for faster and more accurate data collection . Thanks to this, you will learn, among other things, who offers the lowest prices on the market and how wide the competition is offering the same or similar product.
What are the benefits of tracking
What are the benefits of tracking competitor prices?
Tracking Whatsapp Number List competitors’ prices allows you to make changes to your online store. Price changes based on competition analysis make your offer attractive to potential customers.
Is the competition introducing a promotion for the product? On the Dealavo platform, you can obtain information about significant price reductions in competitor stores and track crossed-out prices . With this feature, you can quickly respond to price cuts from your competitors. You can also track the most important changes via email alerts .
Competitor Prices Tracking Competitors' Prices
In turn, Dynamic pricing, i.e. price automation, allows you to set BI Lists automatic price changes based on established rules – such a rule may be, for example, staying in the TOP 3 best offers in Google Shopping or on Allegro . Often, even a minimal price adjustment can significantly change your position in the rankings. Let’s see this with an example:
A change in the product price in the televisions.pl store by just PLN 2 resulted in an increase in the offer’s visibility from fifth to first place. Dynamic pricing works based on continuous analysis and monitoring of market prices, automatically adjusting prices in your store.
