Research has shown that majority of online consumers are making buying decisions based on price alone. Consumers will narrow down their options based on the price that is being offered by different retailers. Through competitor price tracking, you are able to know the kind of pricing other businesses are using and then come up with a price structure that works perfect.Custom web scraping is the best solution if you’d like to know the highest and lowest prices being offered in the market and what effect the difference in pricing has on your consumers.
Other than obtaining pricing information, custom web scraping can also give you data that helps you to come up with an effective marketing strategy. For instance, you may notice that lowering your pricing by a single percentage can bring you significant selling success. These slight changes in pricing may not seem to make a difference, but in the long run they generate impressive sales.
Retailers use competitor price tracking in order to understand the market. It’s impossible to perform a thorough market research without knowing what prices are being offered by your competition for similar or related products. Retailing is very competitive and the savvy business people who take time to look into the right price points are always going to make the most sales.
Successful retailers always understand the importance of distinguishing themselves using more than just price. You may not offer the lowest price, but using web scraping can help you define a different model which will make you distinctive. If you are going up against very heavy competition, it’s important to set up a business model that is completely unique even if the prices are almost similar. Remember that not all effective business strategies are price-based.
As much as it is very important to provide consumers value, you will only boost profits if you can afford to price products as low as consumers want. Since consumers will be attracted to the proper pricing first, they are going to notice the value of your products and this will make your business succeed.
The bottom line is, selling online can be very difficult especially if you don’t want to take pricing into account. Being aware of your competitor’s prices will place you in a better position and ensure you are always ahead of your competitors. Web scraping solutions are effective and only take seconds to derive all the information you need about your competitors. Don’t be among the retailers who are not aware of how their competition is pricing.
We at ITSYS Solutions specialize in web scraping & competitor price monitoring services since 2006, have scraped thousands of websites providing our clients from North America and Europe with data in formats as per their requirement.
For more information, please contact us on email@example.com or call us on any one of the following below
US & Canada: (518) 481-3433
UK: 020 3239 7570