Price is one of the main factors influencing purchase decisions, both from a retailer and consumer perspective. To let numbers speak for itself, >75% of online shoppers actively compare product prices before making a purchase and nearly half of the shoppers purchase discounted products. So if your pricing strategy doesn’t have its ear to the ground, then it can most certainly affect your sales and profit.
In addition, the manual effort required to monitor or track competitor pricing, to benchmark the prices of company owned or distributed products, is humongous. The data is subject to human errors and there is usually a huge time-lag in identifying the correct or the most competitive price at which to sell.
The impact on decision making and overall business projections & revenue is dire, especially in a world where everything is expected to be delivered instantaneously and consumer preferences change almost as the clock ticks!
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Direct data extraction by web crawling
Automated market research
Market & competitor price monitoring
Price comparison & benchmarking
Dynamic pricing & price history
Pricing intelligence & predictive analysis
Price & stock notification system
Advanced search filters & price change alerts
Stock availability view
Machine learning that improves over time