What is price monitoring tool?

Everything about monitoring prices

Why monitor prices?

Price monitoring allows for an in-depth analysis of historical and real-time competitors’ pricing situation and strategy. The price-tracking platform studies your competition or products, providing your with the data that allows for your pricing strategy optimization. The platform should allow for tracking the pricing strategy of your business, price monitoring across channels and spotting MAP/MSRP violations. The high-quality tool analyses the price fluctuations in e-commerce shops, marketplaces, and many more.

Why do you need a tracking tool?

In today’s world, every business to stay competitive, need a tool or a platform that generates reliable data set. With good know-how in the organization and market flexibility, it is easier to be ahead of the competition. Moreover, be alert in observing moves of the competitors. Every vendor who wants to stay up-to-date with market trends and the market dynamics needs the price tracking and far-sighted pricing strategy. The more the data is optimized daily, the better. It is essential to plan steps according to moves of the market and rivals’ decisions.

Your company, especially distributing products on a large scale, have to cope with the dynamic price changes in the unpredictable and specific branch environment, trying to increase sales and improve distributions and implement pricing optimization, daily if needed.

Being a comprehensive service or products provider and being able to analyze pricing history allow you to set the best pricing strategy which maximizes the profit. Obtain information about your market position by exploring product to price ratio as well as your target customers.

Get a free consultation!

How does your business benefit by implementing a price monitoring tool?

The main reason to implement the tool is money. Your company can benefit from tracking tool implementation because saved money might be spending in various ways that are more accurate. Do you know that the machine learning platform that optimizes data, allow you to increase margins by 1-3% without any loss of sales’ volumes? It might be a excellent win for your company, especially when your organization operates in a corporate environment. Moreover, when you implement the tracking tool in your business, you have full support from the company, supposing it is a reliable partner. The price monitoring tools are easy to compare, so choose wisely. Check if the platform can compare other e-shops, marketplaces and price comparison sites, even during the weekend or bank holidays. Check how the QA specialists are responsible for the data validation. Ask the consultants about different topics, the prices itself, distribution, virtual shelving, merchandising and check whether the consultant gives answers that makes sense.

Everyone talks about the highest quality. In Dealavo, we provide you with such. That is why we are open to listening about your needs, plans and second thoughts on your market situation and strategy. We have a team that supports you and your brand in the chase to earn more money and have better results. Because it results in your peace of mind and satisfaction!