Monitoring competitor prices and product availability

To be successful in the marketplace, it is important to know what your competitors are doing and how they are pricing their products and/or services. Only then will you be able to make the right decisions about your own pricing strategy, ensuring that you are not under- or over-pricing your products. By monitoring your prices, you will also be able to spot any price changes that may be taking place in the marketplace, which could be an indicator of changes in trends or customer behavior.

In addition, if you work with distributors, you need to make sure that they adhere to your pricing policy and do not sell your products at a lower or higher price than the one you set. This way, you will be able to protect your brand and its image.

Monitoring product availability is also important because it can have a big impact on sales. If a product is not available, customers will look for alternatives, which could mean they buy from a competitor. By tracking product availability, you will be able to quickly spot any changes and take the necessary actions.

Additionally, if you notice that a product is unavailable in competitor stores, it is worth taking advantage of the situation and adjusting prices accordingly. For example, you can increase the price of a product if you know that there is a high demand for it and that customers are willing to pay more. 

While this is a good start, we recommend expanding your monitoring. Here are a few reasons:

• Shops do not display their full offer on price comparison sites.
• Information about product availability often does not reflect reality.
• Often in stores there are several product pages for the same product (different prices, sets, promotions).

• Stores – price, availability, promotions.
• Price comparison sites – price.
• Auction portals – price, quantity of sales.

• It is possible to put pressure on stores that were the first to lower the price (this is not legal in every country). Ensuring the right level of margin on the market is considered one of the key challenges, especially for low-margin products.
• Ability to monitor product price elasticity.
• Detection of potential frauds (financial, tax, customs) – stores with very low prices.
• For some chains it is possible to determine the availability of goods in individual stationary stores.

• Monitoring change in pricing strategy.
• Based on the analysis of sales data from auction portals, it is possible to determine the popularity of products and even try to estimate the effectiveness of promoting competitors’ products.
• Comparing sales with competitors allows you to increase the quality of analysis of your own promotional activities (elimination of external factors).
• Ease of monitoring the number of competitor products available in stores (shelf share).

The answer here is not clear-cut, because it depends on several factors, such as shipping costs. However, the boundaries in online trade are blurring now. For example, a customer can choose any Amazon store in Europe and order the cheapest product. If there are no logistical and tax barriers, the availability of cheaper goods abroad will affect sales on the local market.

• Continuous price monitoring – detecting which store lowered prices first. This helps manage surcharges effectively.
• Analysis of the impact of changes in competitor prices on sales of your own products – diagnosis allows you to establish a strategy for responding to price changes at your competitors. Example: a reduction in the prices of competitor products occurs. This causes a decrease in sales of your products. Reaction: a reduction in product prices immediately after the competitor’s price changes.
• More accurate monitoring of the effectiveness of your own promotional activities. This is especially important because relying on sales reports provided by stores can be very misleading.
• Verification of shelf share versus competitors.

For some chains it is possible to determine the availability of goods in individual stationary stores.

The analysis performed will allow for an increase in profits.

We provide effective monitoring of products in online stores. We collect current data on prices and availability of products from various sources: online stores, price comparison engines, auction sites and shopping websites. With access to reliable data, you can react and adjust your strategy in a way that allows you to increase profits. You gain comprehensive knowledge of the industry, insight into competitor prices, assortment and promotions, as well as an answer to the question of which retailer is violating the pricing policy.

You can select the channels to monitor yourself. Or rely on our experienced team, which will advise you on the optimal solution. You will receive timely alerts and reports with significant price changes on the market. Reliable monitoring of competitors’ prices will allow you to develop the right strategy, thanks to which you will attract customers and increase sales.

We provide effective monitoring of product availability in the offers of specific stores. You have the ability to analyze and compare product availability in different distribution channels. When you receive an alert that your products are no longer available in a given store, you can take immediate action. Insight into historical data gives you the ability to assess the seasonality of sales. It is also a great way to select an assortment that the competition does not have and increase its price without losing profit.