Price monitoring on Idealo – how to do it?
- 29 December 2020
As the e-commerce industry develops globally, more and more customers shop online on different platforms. That is why the price tracking on the most important European platforms is the key to success in online sales. One of the most important platforms for the western Europe e-commerce market is Idealo. How to effectively monitor prices on this website and integrate it with other data?
What is Idealo?
Idealo is a price comparison website established in Germany in 2000. It is also popular in other western European countries, such as the United Kingdom, Italy, France, or Spain.
Like other price comparison websites, it allows you to sort products according to different criteria: price, popularity, reviews, or the seller’s ranking. This makes it easier for consumers to view products and choose the best offers from a variety of different shops and different prices.
What can cause the difference in prices of products? For example, according to a report by ehandel.com, the average prices of specific electronic goods differ from one another depending on the seller’s country of origin. Internet users make use of this fact and order specific products on foreign auctions. That is why the possibility of buying goods from sellers from all around Europe is particularly attractive to many customers.
Why should you monitor prices on different markets?
According to an article published by ERIF, the price is the most important factor in the purchasing decisions of Internet users. This is precisely why comparison websites are so popular. If you want to effectively adapt your product offer to the needs of the consumers, understand your price positioning and dynamics of the market, you definitely need a reliable tool for price tracking. Such monitoring should cover different types of platforms: online shops, price comparison websites and marketplaces. This way, you will obtain a complete view of the market and actions of the competition, and you will be able to develop your own pricing and marketing strategy adapted to the realities of the market. To get more information on why you should monitor prices on price comparison websites, please read our article: Price monitoring on Google Shopping – why is it worth it?
How to monitor prices on Idealo?
In times when the competition on the e-commerce market is continuously growing and the number of shops is still increasing, it is more and more difficult to keep up with the prices and quickly respond to their changes. At the same time, gaining information about the market has never been so important as it is today.
In order to streamline monitoring, we recommend using modern monitoring automation tools, such as Dealavo. It is a platform that uses technically advanced algorithms to enable comparing prices of products from the websites chosen by the customer. The data gathered by the tool is then presented in the form of a clear, readymade reports that are updated even every 15 minutes.
Thanks to Dealavo, you can effectively monitor prices on numerous websites at the same time, on several markets. By using the platform, you can observe the prices quickly and with virtually no risk of mistakes not only on Idealo but also on other search engines, such as Google Shopping or Amazon. This way, you can obtain a complete view of the European e-commerce market, without having to check hundreds of websites and perform manual updates of the reports.
Price automation on Idealo
An interesting and particularly helpful tool that you can use when monitoring prices on Idealo is dynamic pricing – price automation based on the predefined rules. Dealavo allows you to not only track prices but also to adapt them to the conditions of the market based on the rules defined by the user. For example, the customer may decide that a particular product should have the lowest price in its category. In this situation, when the price of the competition drops, the customer’s offer will be immediately adapted by decreasing the price of the product by, for example, 5%. This way, the customer can keep the competitive advantage of their shop without any additional effort, control margins and increase profits.
Please contact us if you want to get more information on how to monitor prices on different platforms. During our presentation, we will show you how the Dealavo tool works and advise you how to use it best to monitor selected websites. You can also test our tool first – contact us and ask for more details.
Learn more about factors you should analyze when deciding about the optimal sales and promotion channels for your business: Which products to sell and promote on the most important e-commerce platforms?