Image showing footprints in the snow followed up by the title in bold saying Price Tracking

What is Price Tracking Software?

Price tracking software is a service that provides useful current pricing information to support the decision-making process of your business. For example, you can keep up to date with your competitors and your current pricing. You can track Big E-commerce sites such as eBay and Amazon to ensure your pricing stays competitive. Price tracking applications are achieved by the clever use of data mining techniques, such as web scraping prices.

Sign posts Indicating the Key question starters identified in FAQS relating to price tracking software

 

Why Do We Need Price Tracking? 

With your pricing information collected, you can then identify key price changes. Also find answers to FAQs many businesses would like answers to: 

  1. How are my prices compared to my competitors? 
  2. Which one of my competitors has the lowest price on some of my key products? 
  3. Which one of my competitors is also price tracking and reducing product prices? 
  4. Do I have any out of stock items? 
  5. Do my competitors have any out of stock items? 
  6. How has a price for a certain product or service changed overtime? 
  7. How can I track big significant price changes? (holiday sales, special offers, time related dynamic prices) 

 

There is a way that price tracking software can benefit you. No matter whether you’re a brand or a retailer, you will find price tracking tools are limitless and will grow your business. From small-scale businesses, online sports retailers, supermarkets chains, the travel industry and many more. 

How We Can Benefit You?

We use the data crawled by our price scraping tool and integrate this with our pricing intelligence software to provide a credible up to date competitive analysis in your respective fields. Some key benefits include: 

  1. Gain an understanding of your current pricing position and optimise your pricing strategy 
  2. Improve your in-store experience and ability to price match your competitors with ease 
  3. Incorporate the price monitoring with your ads and increase your conversion rate, e.g., taking advantage of a competitor being out of stock. 
  4. A fully automated re-pricer module that runs on your own business rules 
  5. Achieve a great competitive advantage–increase your sales and margins! 

 

This is just some benefits of having competitive price monitoring software. To find out more, request a demo below or use the contact information at the bottom of the page and get in touch!