Integrations for automatic price setting in an online shop
- 24 February 2021
If you own an online shop, you should adjust your offering and prices to the dynamically changing market situation. In February 2021, Dealavo provided new possibilities of integrating data from the price monitoring platform directly into ERP systems and shops as a part of Counter-Price package.
How does price automation work in an online shop?
Automatic use of market data in a price strategy is possible for Dealavo customers with the price monitoring platform – Dealavo Smart Prices or Counter-Price. The prices are recommended on the basis of selected factors – competitive position of the shop, purchase prices of the product, ranking in the listing of the most important platforms (e.g. Google Shopping, Amazon).
Price automation allows you to maximize profit – the customer can set formulas that will keep the balance between being competitive on the market and protecting the margin.
How does the integration of price data work in an online shop?
How can you integrate the data on recommended prices with an ERP system or a shop? You should take the following steps:
Define the range of products for which you require monitoring and automation. To do this, you need to set an appointment with a Dealavo representative.
Then, you should define the price rules, which will help you to set prices in the shop (For example, being in Amazon’s Top 3 product offers as long as the margin is 5% or more).
Set the integration options:
The first option is to use the Dealavo API to download information about the recommended prices. It is available for free.
The second option is to integrate data from Dealavo directly into your ERP system or shop platform. You can find the list of possible integrations below.
With what shop systems can price data be integrated?
The integration of data on market prices is possible with the following systems:
And others – if you want the full list, contact us via chat or e-mail us at firstname.lastname@example.org.
Prices can be also automated on platforms such as Amazon or Google Shopping.
With what ERP systems can Dealavo price data be integrated?
Automatic price management – is it worth it?
Automatic price management has many advantages. The most important of these are:
The possibility of achieving higher profit by adjusting the prices to the market situation – Think about a shop that sells a product for USD 100, whereas its competition sells it for USD 99.95. In such case, the competition’s offers are ranked higher on the listings of price comparison websites or marketplaces. A small change in price would probably result in a higher number of customers, which could also translate into bigger profit. You can also try to imagine a reverse situation – if a shop has the cheapest offer for USD 100, whereas nobody else sells the product for less than USD 110, there is a good chance that the increase of the price would increase the shop’s profits.
Time savings – thanks to automatic pricing, the entire process takes much less time and is limited to the control of results.
Avoiding human error – automation eliminates the risk of human error. The system bases its decisions on predefined, optimal rules.
Please contact us if you want to get more information on automatic pricing in an online shop.