Price monitoring in the Internet

Monitoring of prices on the Internet is the search and information gathering on prices of products in the competitors ‘ stores. Monitoring of competitors ‘ prices is a must for the formation of pricing strategies in the store. It is important that your price was on the market, otherwise a large portion of potential customers will be lost.

Also, price monitoring helps identify online stores that dump. And with the PriceCop monitoring service, you can right here and now find out who dumps your brand on the market if you are a representative of a supplier of goods, or find out which of your competitors dumps if you are a representative of an online store.

Content List

• Who needs a price monitoring
• Cost of manual monitoring prices
• Automatic monitoring of prices

Who needs a price monitoring

Price monitoring needed both online and offline stores, as well as suppliers and manufacturers.

online stores monitoring prices is an extremely important task. Let’s look at an example. Are you managing an online store with a large assortment of goods. You spent a lot of money on creating quality content (pictures, video reviews, unique descriptions and articles), ordered an expensive SEO website promotion, and search results your goods are already in the Top. Pay for advertising in Google Adwords and Yandex Direct and get good traffic to the site. But sales is incomparably small. What could be the reason? The answer is simple — non-competitive product prices.

Few people when searching for the right product stop at the first offers from store. Most compare prices and offers before making a purchase. Potential customers open several tabs with offers from different stores, choose the best price or best conditions of purchase and close tabs with other stores. One of these closed tabs is your online store.

this is the situation faced by thousands of Internet shops, which don’t pay enough attention to pricing or performed manually.

renting office, warehouse, payment services, salary of employees, handling prices, etc — all meaningless at non-competitive prices.

You can say that I’m exaggerating, but it’s not. For many potential customers even a difference of 1 UAH. can play a key role in making purchasing decisions. But if you don’t spend regular the market price monitoring, then 99% of your goods is not in the market and the difference in price — not 1 UAH.

by the Way, read why do you fight even for 1 UAH.

Cost of manual monitoring prices

to monitor prices manual. For this you need to put the person who will collect the prices of your products from competitors. But it is worth noting that this work takes a lot of time of the employee, and given the fact that the range of goods is large, and a lot of competitors — monitoring of the entire range should be very, very long time. And the saddest thing is that after your employees will collect all the prices — this information is irrelevant, because it will take a few a lot of time.

All who have tried to do manual monitoring of prices knows that it is tiring work for eyes and brain, to sit a long time and to cut prices is very difficult. Moreover, often, the price cuts single person who does not make decisions regarding the pricing and, accordingly, he first spends his time collecting data, then transmits that information to a person who makes the decision, that analyzes the data and then changes the price of the goods, if necessary. And of course the price would be irrelevant.

Also, it is worth considering the fact that people get sick, go on vacation, retire, and work, respectively, is not performed regularly. And when the work is not done regularly, sooner or later it ceases to run at all. And it all spent before the time it goes off.

An Important part market monitor is the regularity of monitoring. Commodity prices change daily and sometimes several times a day. Therefore, it’s important to frequently monitor prices, and if you have a large range of products, manually it can be done.

Automatic monitoring of prices

Automatic monitoring of prices solves this problem. PriceCop collects information about products from the sites, stores or catalogs automatically and fairly quickly.

How to automate monitoring of prices using PriceCop? You must provide a price list of the items that you want to monitor, and also a list of sites of competitors, which need to cut prices. For the most accurate monitoring is necessary to conduct a comparison of your products versus the products of competitors, as different stores the same product can have different names. A comparison of the goods can make yourself or can make use of our services.

Reports on the monitoring of prices you will get via email or through API. Plans is the implementation of sending reports via Telegram, Skype, Viber and other instant messengers.

This will save your employees ‘time at the cut price and will have more time to analyze the information received and the formation of prices based on competitors’ prices. After changing the price policy company, your products become more competitive and therefore will be in high demand, which will lead to sales growth.

in Addition to monitoring prices, offers PriceCop analysis of product range of competitors. This will help to expand your range of goods that are in demand but not available. Because of this you will be aware what commodity niches you “SAG” and you will understand in which direction to expand the range.

Want to save time and increase sales? Just leave a request and you will be connected to the automatic monitoring of prices.