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Automatic
Price Monitoring
Price monitoring on every platform you indicate. We provide price monitoring software with a guarantee of the highest quality of delivered data on the market.
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What is price monitoring and what does Dealavo offer in this area?
Price monitoring is a key element when implementing and controlling the pricing strategy of an online store. By knowing the market and being aware of the offers consumers encounter, an online store can maximize profits in every sales channel. Dealavo offers a transparent platform for price monitoring that allows online stores to track offers for each product, check the competitiveness of their e-commerce prices, identify key competitors, and discover opportunities to increase sales profits.
Automatic price monitoring – what advantage does it offer over manual price tracking?
If you want to analyze the market as effectively as possible, that is, to understand how your offers compare to the competition, you need to process a vast amount of data. This stems from:
- a large number of competing stores;
- the broad range of competitor offers;
- promotional actions taken by your competition.
Manual price monitoring unfortunately can take too much time and may not allow you to effectively optimize your offer. By the time you prepare a report from data analysis and draw conclusions, the data may already be outdated, as competition not only takes actions continuously but is also increasingly using price monitoring tools in e-commerce. Moreover, manual price monitoring of competitors is prone to human error.
Integrations
Dealavo can be easily integrated with many online store engines. If the platform you operate on is not listed below, don’t worry! We have a dedicated team of developers who will integrate it for you without engaging your resources.
Competitor Price Monitoring with Dealavo Tools
Dealavo Smart Prices provides high-quality competitor data through advanced algorithms and manual verification performed by the QA team, supported by unique tools developed specifically for their needs by our developers.
Dealavo is more than just data. With online stores in mind, we have created a unique Dynamic Pricing platform that integrates internal ERP data with behavioral and competitor data. It is one of the most technologically advanced tools designed for demanding clients who want to dedicate a lot of attention and work to optimizing their e-commerce offers.
What data does Dealavo price monitoring provide?
Automatic price monitoring tools allow you to collect the following data about how your online store’s offers compare to the competition.
It is worth adding that Dealavo’s tools are supported by experienced e-commerce analytics specialists.
You will find out who offers the lowest prices on the market.
You will see how broad the competition is with similar or identical offers.
You will see where your offers rank on price comparison sites.
You will receive information about price reductions and promotions by the competition.
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Dealavo Newsletter
You can expect lots of interesting content and updates in our newsletter, such as free webinars and blog posts. We strive to share our knowledge and keep people informed about prices and trends in the world of e-commerce.
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What actions will monitoring the prices of competitors’ products direct you towards?
Price monitoring will allow you to collect data, on other e-commerce sites, which will enable you to take specific action on your pricing policy to optimise your sales profits. An online shop that does not have an active pricing policy and leaves prices at one level can very quickly lose competitiveness. This is why monitoring the prices of e-commerce competitors is so important in terms of changing prices in such a way that they are attractive to customers, but at the same time allow you to meet your targets and generate the highest possible sales profit.
Price cut
Price monitoring does not always have to involve price cuts. A price cut may be the optimal action when you want to respond to a competitor’s price drop or outrank competing e-commerce sites in price comparison rankings. Sometimes it is enough to lower the price slightly, by just a few zlotys or even cents. This is enough to rank higher than a competitor that is just one cent cheaper.
Price increase
Optimizing your pricing strategy does not necessarily mean lowering prices. You can also increase profits by raising prices. This is often possible without losing even the most price-sensitive customers. When does this happen?
- When your competitors temporarily run out of stock.
- When you are the only seller of a particular product and have no competition.
- When you have a clearly lowest price, and there is a significant difference between your price and the next lowest offer from a competitor. In this case, you can raise the price without losing your position in the price comparison ranking or losing customers who are looking for the lowest price.
Raising your margin without losing search ranking positions or customers leaving your store will bring a direct increase in profits from every transaction made in your online store.
Competitor price monitoring – make informed pricing decisions
By using price monitoring tools in e-commerce, you don’t have to make pricing decisions based on intuition or manually gathered data, which may become outdated before you can draw conclusions. Online price monitoring allows you to lower or raise prices based on up-to-date data that reflects the current market situation. This ensures that every decision – whether to lower prices or raise margins – will be appropriate to the current situation and is likely to yield the expected results.
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Price monitoring – why is it so important in e-commerce?
Price management in an online store differs from brick-and-mortar stores. Here, you need to consider the fact that e-commerce customers have a much easier time comparing prices. In just a few minutes, they can check the offers of several stores, and they can do so in a few ways:
visiting e-commerce sites that appeared in Google search results after entering their query of interest
using price comparison sites that clearly display offers from the cheapest to the most expensive
visiting marketplaces such as Allegro or Erli
using Google Shopping, which displays multiple similar offers in one view, making it easier to compare prices
Free store analysis – discover the potential of e-commerce analytics
To help you quickly understand your online store’s price positioning, we have introduced the option of downloading a free report called Store Analysis, which shows your online store’s price competitiveness, key competitors, and the best opportunities to increase profits.
You can see for free how much growth and sales potential your e-commerce still has. With a free store analysis, you will learn the benefits that price monitoring tools can bring you. Try it and see that monitoring competitors’ prices is the most effective way to stay competitive while meeting your sales goals.
Price monitoring in your industry
The challenges of price tracking for online stores vary by industry. That’s why we’ve created guides to help you understand what to focus on depending on the products your store offers:
Today you can see how price monitoring will work in your industry.
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Kasia, Customer Success Manager
I believe that better relationships with clients = greater success for us and for them. The most satisfaction comes from helping clients maximize the value of Dealavo and assisting them in achieving their long-term goals.
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Ola, Customer Success
In client contact, the most important thing for me is kindness and an individual approach – building a close relationship based on the needs and goals of each user. At Dealavo, we care about the success of our clients, so we try to facilitate their work with a wide range of functionalities and provide data that helps in making important business decisions.
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Kasia, Customer Success
In my work with clients, the most important thing is good relationships and trust. This allows me to show them the real benefits of working together. I get great satisfaction from implementing solutions that support the daily work of clients and helping them grow their businesses. Watching our clients grow is truly a pleasure.
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Monika, Customer Success
What I love most about my job is the contact with people. I derive satisfaction from helping clients and discovering their real needs. I enjoy being the ‘voice’ of the client in the company and ensuring the continuous development of our product. A happy client = a happy me. 🙂
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Frequently Asked Questions
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Our application can monitor prices on any site you choose, price comparison websites, or marketplaces. Tell us what you need, and we will provide an effective solution.
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At Dealavo, we can help you monitor the market in any country you choose.
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The necessary parameters for Dealavo are:
– product name,
– EAN (only for CounterPrice products),
– product ID.A highly recommended parameter is the gross purchase price, which allows the user to set system price suggestions based on minimum margin or markup.
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Our algorithms collect and analyze data continuously, and the system updates approximately every 15 minutes.
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With us, you pay for monitoring the prices of your products, which you track in our panel. Prices are determined individually depending on the scope of your assortment and the range of monitoring. There is no single price for everyone, but don’t worry, you won’t pay blindly. A 7-day trial period applies, and if you provide us with your feed or part of it, we will configure your account, and you can start your first analyses.