Competitor price tracking tool gives every Ecommerce CEOs ability to monitor the market.
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For decision-making, CEOs have to take into consideration everything that is happening outside of the company. Competitors’ prices and assortments can give you a big part of this information, and many useful insights about how the market is moving. Competitor price tracking tool gives every Ecommerce CEOs ability to monitor the market and gather the information regarding the harshly competitive Ecommerce landscape for you.
Another important piece of information that comes from competitors’ pricing is the state of the market. With competitor tracking software you can generate historical data and display it in graphics that will give you a general idea about the market trends and evolution.
Product lifecycle stage of your product.
Whether the market is going to have higher or lower prices.
Opportunities to launch promotions.
You might think that getting all this information would take a lot of time. Ecommerce businesses have a lot of different categories of products, product variations, and references. If we multiply these by the number of competitors, the number of pages you need to monitor is overwhelming. By using a competitor price tracking solution, you will eliminate that huge work burden.
You will be able to track all your competitors’ prices and assortments automatically. By spending less time, you can have your database updated more than once a day.
You can implement APIs in order to set automatic reactions to market changes. For instance, if you run the best price in the market promotion for a week, you can set your API to automatically set your prices at the same level as the lowest price available.
In addition, Prisync can also help other workers in your business as category managers. So, get the advantages that big data brings to Ecommerce and invest your time in the most important aspects of your work: making decisions.