Online and offline retailers often emphasize their product quality, user experience, and customer service. However, modern consumers are in constant search of better price deals, special offers, and discounts. That’s why timely pricing optimization can help you offer your clients the best deals and increase your income. Amazon, for instance, adjusts its product price within 10 seconds after the competitor price fluctuates.
Price aggregator websites and services like Google Shopping, Pronto, NextTag, and BizRate help users compare prices among different shops or vendors. Showing the best deals in the market, they make the present-day digital retail realm highly competitive.
The statistics say that only a quarter of businesses evaluate their competitors’ pricing data. This provides you with a perfect chance to be better than the other 75%. All you need to beat the competition is to always stay up-to-date and form your pricing strategy systematically. Web data scraping can be of great help for the purpose.
Price scraping is a process of extracting prices from websites for specific purposes. For example, you can price scrape to set your prices according to competitors’ prices, to analyze the market, or to aggregate all prices for a specific good or service and sell that service on a subscription basis.
Being aware of all these aspects helps you determine your place in the market niche, improve your product line, and set optimal prices.
Price monitoring is a process of constantly “watching” competition or market prices. It allows you to track the 3 Ps – Products, Prices, Promos. Thus, you get timely insights into the assortment of products, recent stock additions, and discounts offered. Price monitoring allows you to track prices for trading purposes, which is vital in the cases when prices change every minute or even every few seconds.
With a web scraping tool, it’s easy to spot the products that are selling better, have discounts offered, and those with the minimum selling prices.
We provides both of the abovementioned services, and I’ll explain the difference. If you order data delivery of prices, you’ll get collected prices from the websites of your choice in a structured data format, such as Excel files, or a database. You can order this price scraping service once or on a regular basis. This kind of service is best if you want to analyze the market or your competitors’ price level.
If you instead intend to build a product based on a price scraping solution, your best option is custom price monitoring software development. Custom scraping tools ensure that all the clients’ requirements are met, and specific business details are taken into account. Thus, you get a unique solution without any unwanted or unnecessary features. This also may include insightful generation, filtering and modeling options, and other methods to resolve any variation in product names across the web.
To get a clear picture of what we can do for your project,schedule a free consultation with our expert!
