PriceLab Alternative: choose the best price tracking software
- 01 January 2022
Dynamic or static pricing?
That’s a very important question that a business owner has to ask himself when it comes to setting a price strategy.Static pricing is a traditional model in which a product’s price is fixed and has to stay the same even if market trends and competitive prices are fluctuating. It’s good to choose this strategy as a manufacturer since it allows establishing one price for every customer on any given terms. On the other hand, dynamic pricing is a model that allows changing products’ prices multiple times, as soon as a product’s price starts to fluctuate due to competitors’ moves or demand changes. This strategy is widely used in the e-commerce sector since it’s known for dynamic price changes and demand-dependent pricing models. Better recognition of the market means setting up more accurate prices. What’s the outcome? More revenue may be created. That’s why repricing has gained so much popularity over the last few years in e-commerce.Repricing is the best way to efficiently stick with the implementation of a given pricing policy.Both PriceLab and Dealavo enable their clients to track and develop new prices, based on accurate data about competitors’ prices and assortment changes and demand rotations.
What’s easier to use – PriceLab or Dealavo?Ease of use is probably one of the most underrated features when it comes to price tracking software. At first, it might seem fair because managers expect the tool only to accurately track competitors’ prices. However, after some time of using a tool that is complicated and only experienced managers can make use of it, frustration takes over. That’s why ease of use should be one of the key factors when deciding to choose software for your business. While choosing the best price tracking software it is also vital to differentiate a company’s primary goals. If a tool is well-matched with a company, it’s naturally easier to use. It’s also important to state, that no software fits into every business and every industry. PriceLab is a price intelligence platform that supports both retailers and brands in the e-commerce sector. It provides professional price analytics and has a complex repricing feature that enables changing a product’s prices depending on the market circumstances and competitors’ actions. It’s also known for its ease of use, which means PriceLab will be understandable for both professionals and newcomers. Dealavo’s twofold structure (divided into brands and e-shops) allows it to meet the company’s profile and main needs.Dealavo is a very handy tool that can be used in a very wide spectrum of businesses, gathering tons of data from different e-commerce channels and presenting it most conveniently, so that even beginners won’t feel overwhelmed with it.It’s not only useful in the everyday price tracking process but also while planning long-term pricing or distribution strategy. All this makes Dealavo a great, intuitive tool for e-commerce brands but also a universal solution for businesses with completely different missions and goals.
Dealavo as a PriceLab alternative – essential featuresRegarding the PriceLab alternative, Dealavo would fit in well in almost every e-commerce business possible, because of its universal purpose and features that go beyond expectations.Both Dealavo and PriceLab enable essential features like:
Machine Learning ComponentThe Machine Learning component is one of the best features that price tracking software can provide. It is simply an algorithm similar to the one that AI systems use, that analyses and learns from the gathered data. It’s a next-level feature that recognizes patterns and learns from them. It also comes up with new improvements that can be implemented based on historical price changes and their outcomes. Both Dealavo and PriceLab ensure their clients with ML Component.
Manual QA verificationHuman QA verification is a feature that only a few price tracking software have. Nonetheless, it often turns out as a crucial factor in the process of data gathering. Both Dealavo and PriceLab have their own teams that make sure no errors occur in the price tracking processes. There are always cases when ML Component or Smart Matching systems make mistakes and that’s when the human QA verification comes to the rescue.
The Open API feature, also known as Public API, allows third-party developers to take action and modify the software’s settings to meet clients’ expectations.
It also allows fully connecting price tracking software with the one that has been used in the company earlier.
Both Dealavo and PriceLab provide OpenAPI feature which confirms that both tools are extremely easy to use.