Amazon.com’s foray into e-commerce rewrote the rules of the retail industry and ever since, more businesses are selling online than before. The retailers today face many different kinds of challenges and competitions. With customer loyalty on the wane, pricing the products is now the most crucial decision a business has to make. This requires monitoring the prices of competitors on a regular basis.
By monitoring your competitor sites for prices and stocks you can
Boost Sales: Boost your sales with competition-based pricing. Discover the best price points by increasing / decreasing prices and monitoring the sales. If sales are steady on increasing prices, you can further increase or rollback to the price point at which sales peaked.
Increase Margins: Increase your margins by tracking prices and finding products for which you can raise prices competitively. For example, you can increase the price of an identical but out of stock item if it’s not available on your competitor’s site and thereby increase margins.
Optimize Product Catalog: Optimize your product catalog by monitoring your competitor’s stock availability during the day. You can accordingly optimize your inventory and stock items at a price point which are offered at competitive pricing.
Geographic Pricing: As a large e-store owner/manager, by web scraping the data to monitor prices, you can gain valuable insight into the product pricing across geographies and determine whether you can charge more based on distinguishing factors, such as specific neighborhoods or ZIP codes.
We at ITSYS Solutions specialize in web scraping and provide “hosted” price monitoring solution. Since 2006 have scraped thousands of websites providing our clients from North America and Europe with data in formats as per their requirement. Our “hosted” web scraping services will capture the data anonymously and non-intrusively. For more details on how we can help your business, please feel free to contact us with your web data extraction project requirement and our executives will revert back to you.