Price monitoring, dynamic pricing and repricing on Zalando: How to monitor your competitors’ prices on this e-commerce platform?
- 21 April 2023
Zalando is a leading e-commerce platform that offers an extensive selection of fashion, footwear, and lifestyle products. With its growing customer base and advanced technology solutions, Zalando is quickly becoming one of the most popular e-commerce stores in Europe. Therefore Zalando marketplace is becoming a highly competitive space where businesses are constantly looking for ways to increase their sales. One of the most effective ways to succeed in online trading is to monitor competitor prices. By keeping an eye on your competitors’ prices, you can adjust your pricing strategy to stay competitive. One way to monitor your competitors’ prices on Zalando is to use Dealavo, an e-commerce price monitoring tool. In this article, you will learn how you can use Dealavo to monitor your competitors’ prices on this platform to stay competitive.
What is price monitoring?
Price monitoring is an important part of the online pricing. The prices of competitors on online shops or marketplaces such as Zalando, Amazon, or Ebay are observed and analyzed. The goal is to quickly identify price changes and react to them in order to optimally adjust the sales price. Price monitoring can be done manually or automatically, with a tool like Dealavo offering an automated solution. With the rising popularity of dynamic pricing, price monitoring is becoming increasingly important to ensure visibility and competitiveness in the marketplace.
Price monitoring and online marketplaces in e-commerce: why price monitoring on Zalando is important
Monitoring your competitors’ prices on Zalando can be of great benefit to your business. By regularly monitoring, you can gain insights into your competitors’ pricing strategies and tactics, allowing you to adjust your own pricing strategy accordingly to stay competitive. For example, by optimizing your pricing strategy, you can lower your prices to be more competitive or increase your prices to make more profit. Also, by monitoring your competitors’ prices on Zalando, you’ll be immediately informed when there are price reductions or increases and can react quickly by adjusting your pricing strategy accordingly. Another benefit of monitoring your competitors’ prices on Zalando is identifying trends and market developments. By adapting your strategy to changes in the market at an early stage, you can gain a competitive advantage and be more successful in online trading.
Tips for successful competitors’ price monitoring on Zalando
In order for you to be able to carry out successful price monitoring on Zalando, you should consider a few suggestions.
First of all, it is important to regularly monitor the prices of your competitors in order to be able to react quickly to changes. By regularly performing competitor analyses and comparisons, you can adapt your own pricing strategy and remain competitive. In addition, by monitoring the prices of your competitors on Zalando, you can carry out your price optimization in a targeted manner, for example, to lower your prices and thus be more competitive or raise prices and thereby make more profit. It is also important to keep an eye on market trends and developments and adjust your pricing strategy accordingly. Lastly, you should act proactively when there are price drops or increases to stay competitive and succeed in online trading. With these tips, you can carry out your price monitoring on Zalando effectively and operate successfully in e-commerce.
Price monitoring for your online store: Dealavo vs. other price monitoring tools
Successful price monitoring is essential for e-commerce businesses to remain competitive. There are a variety of price monitoring tools on the market, and Dealavo is a comprehensive and easy-to-use solution. Compared to other price monitoring tools, Dealavo offers a number of advantages that make it an attractive option for businesses.
A major benefit of Dealavo is its flexibility and adaptability to the specific needs of your business. You can tailor Dealavo to your business to ensure it meets your needs.
Another advantage of Dealavo is its wide coverage of markets, marketplaces and platforms. Monitoring a wide range of platforms such as Zalando, Amazon and Ebay gives you a comprehensive insight into your competitors’ pricing strategies. By monitoring these platforms, you can optimize your own pricing strategy and stay competitive.
Another benefit of Dealavo is the automated price alerts and reports you receive when there are changes in your competitors’ prices. This gives you a quick way to react to adjust your pricing strategy accordingly. This feature saves you valuable time that you can use for other important tasks. In addition, Dealavo provides high-quality pricing data that is accurate and reliable. Accurate data is the basis for successful price monitoring and a precise pricing strategy.
Overall, Dealavo offers a comprehensive price monitoring solution that can help you stay competitive and thrive in online trading. Dealavo’s advantages, such as flexibility, adaptability, comprehensive coverage of markets and platforms, automated notifications and reports, and high-quality price data, make it an attractive option for companies looking to conduct successful price monitoring. Try Dealavo the free demo version and increase your sales.
How to use Dynamic Pricing (Repricing) on Zalando
The benefits of dynamic pricing include maximizing revenue by driving higher margins through targeted promotional activities such as discounts or flash sales; increasing the Average Order Value (AOV) to capture more value with existing customers; streamlining processes with automated decisions so time isn’t wasted manually adjusting different prices for different products in diffrent regions; finally providing better customer service with tailored offers that focus on consumer needs rather than a generic one-size-fits-all approach.
With dynamic pricing, Zalando can offer highly customized deals for its shoppers while attracting new customers who experience exclusive savings at any given moment. Thanks to this technology it’s now possible for retailers like Zalando to stay competitive by delivering unbeatable pricing experiences – all without sacrificing margins!
Below is a selection of rules that can be set in the Dynamic Pricing module:
- Between two competitors – a rule that allows you to automatically set prices between selected competitors.
- Below/above selected numerical attributes – an option offering the possibility of setting a target margin with an amount or percentage mark-up (e.g. the set product price should include a minimum of 5% margin) .
- Below/above selected numerical attributes – an option offering the possibility of setting a target margin with an amount or percentage mark-up (e.g. the set product price should include a minimum of 5% margin)
- Below/above selected competitors – if this rule is used, the algorithm will generate prices lower or higher than the selected competitors.
- Increase/decrease by a specific amount/percentage – this setting allows you to decrease prices by a specific amount or percentage over a given time period. This means, for example, that every 3 days the price of a product is reduced by 1 euro/USD/etc.
- By cost – a rule that operates on a “cost-plus” basis.
- Based on market position – with this setting, product prices are based on the market position of the competition. The setting can, for example, introduce an assumption that prices should be higher than those offered by the cheapest competitor.
- Low inventory – An option that is useful for end-of-series and sales; it causes prices to be automatically reduced until inventory is low.
- Profit optimization – use of artificial intelligence (AI and exploration) – A rule that deserves special attention. It is the outsourcing of price optimization to artificial intelligence (AI). The algorithm learns from the source of the collected data and optimally adjusts prices to market conditions.
Conclusion: Monitor every competitor’s product on Zalando
Successful price monitoring is an important factor in staying competitive in online trading and being successful in the long term. By monitoring your competitors’ prices, you can gain valuable insights into their pricing strategies and tactics, and adjust your own pricing strategy accordingly. In addition, by identifying market trends and developments at an early stage, you can adapt your strategy accordingly and thus gain a competitive advantage.