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The Best Competitive Price Tracking and Monitoring Tools for Ecommerce

Scour the competition and find the right product price.

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What are Competitive Price Tracking and Monitoring Tools?

Developing a plan for product pricing may seem like a simple task, however, there is a lot more to it than pulling prices out of thin air. In order to price products strategically, it is critical to understand the competitive landscape. Whether you plan to directly copy a competitor, take an average price using other stores as a benchmark, or use a calculation based on your own profit and loss, having access to a starting point will help you choose a pricing strategy that aligns with the market and is effective at helping you generate a profit.. Competitive price tracking and monitoring tools use insights and data to scan thousands of similar products to find and monitor the average price. The tools use historical and real-time data to deliver the current rates of a product and the prices it has sold at in the past. This can help you set your prices at a competitive level, understand seasonal trends in pricing, and optimize your overall pricing strategy.

Competitive Price Tracking and Monitoring

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What is Prisync?

Prisync is a competitive price tracking and monitoring tool that allows you to maintain competitive pricing without sacrificing profitability.

What is Luz Data?

Luz Data is a massive database for Ecommerce that tracks competitor sales volume and inventory counts to help you advertise as efficiently as possible.

What is Pricestack?

Pricestack is the most robust price testing tool for mid-market merchants.

What is Koala Inspector?

Koala Inspector is a Chrome extension for merchants looking to (politely) “spy” on their competitors Shopify stores.

What is Helium 10?

Helium 10 is an extremely robust suite of tools designed to do everything you can imagine to do as an Amazon seller.

What is Yardline?

Category and platform agnostic funding marketplace built specifically for Ecommerce brands and retailers.

What is FUGU?

FUGU prevents more instances of fraud by following the purchaser after the purchase to better calculate the risk of fraud.

What is Opinew?

Opinew is a smart review platform for DTC brands showcasing reviews on their site from across the web for increased social proof and conversation rate.

What is Netcore?

Netcore is a customer engagement and experience platform that creates personalized digital experiences to fuel omni-channel growth.

What is Sendlane?

Sendlane is an email and SMS marketing platform that combines functionality with methodology to increase conversions and total revenue.

What is Carro?

Carro’s Brand Partnership tool is like going Shopping for products for your store, without a traditional wholesale relationship or any inventory commitments.

What is Rewind?

Rewind is an easy to use back up tool for your Shopify or BigCommerce store, providing peace of mind that when things break you will be able to fix them fast.

What is SMSBump?

SMSBump is the largest SMS marketing tool in the Shopify app market, designed specifically for Shopify with extremely robust functionality and features.

What is Gorgias?

All-in-One Customer Support Specifically Designed for Ecommerce

What is Viral Loops?

Viral Loops improves customer lifetime value by incentivizing word-of-mouth marketing in pre-sale and post-sale campaigns.

Why use Competitive Price Tracking and Monitoring apps?

Conducting your own price research can be incredibly time-consuming. Chances are, you’ll only manage to scan a few competitor sites and get an average, but what about the thousands of other similar products elsewhere on the web? This is why competitive price tracking and monitoring tools are so useful. They automatically scour every product and its historical price as well as what it’s selling for now. On top of this, they track pricing trends to help you keep a pulse on the industry and stay competitive. The data provided means you can monitor your own margins, gain insights into your customers’ buying behavior, and plan any upcoming promotions.

When should you be investing in Competitive Price Tracking and Monitoring apps?

Competitive price tracking and monitoring tools give you data you can use to optimize your prices, promotions, and product listings. It’s good to know where you sit amongst your competitors and what pricing trends are occurring in your product categories so that you can stay ahead of the game. Since having a price tracking and monitoring tool  will take the guesswork out of pricing your products, it is worth considering if you are in a highly competitive category, especially after you have the foundation of your tech stack built out and are looking for ways to optimize. This is how you will  ensure you maintain a competitive edge in the market while gaining useful insights into your profit margins and predicted revenue.

Who is managing these Competitive Price Tracking and Monitoring apps?

Competitive price tracking and monitoring tools are often used by Ecommerce founders, CEOs, Heads of Operations, Heads of Product, and Heads of Marketing–basically, whoever is in charge of setting the price points for the company.

What are the most important Competitive Price Tracking and Monitoring features?

Ideally, you want a competitive price tracking and monitoring tool that scans the prices of all similar products, including their past prices and their current prices. This will give you a comprehensive view into the pricing lifecycle and help you understand trends and patterns throughout the seasons. It’s also important to find a tool that monitors price changes in real-time so you can create a proper pricing strategy and maintain a competitive edge based on current industry trends.

Look out for tools that monitor price index, margins, and conversion rate: price index tracks your competitiveness in the market, the margin is the net revenue you get, and conversion rate is how many people checkout with the product at that price. A particularly good competitive price tracking and monitoring tool will let you filter pricing results by competitor, industry, product, season, and audience so you can identify where the patterns are and what variables make a difference.

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