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David Hart

4 Rewards of Web Scraping Solutions Your Business Could Use - 0 views

web scraping price monitoring competitor price monitoring

started by David Hart on 23 Mar 16
  • David Hart
     

    If you ever question the need for competitor price tracking, take a look
    at the number of businesses trying to sell their products online now. The
    e-commerce market is super competitive and a smart business person should use
    the right product price to make a kill. Web
    scraping
    applications have been used to monitor competitor prices for those
    who want to survive in this tough E-commerce market.



    Below are the 4 main reasons why it is
    essential to track competitor prices in this current e-commerce market.



    Increase
    sales



    Competitor
    price monitoring can help your business to sell more
    by adjusting the prices of your products. As soon as you discover the best
    prices, you can increase or lower your current rate and then monitor the sales
    for a period of time. You may witness a steady increase in sales when you
    increase the prices or lower your prices. You need to identify the point where
    your sales peaked and stick to that price.



    Enhance
    profit margins



    With web
    scraping, you can identify out of stock products which are on the
    competitor's site and increase the prices of these items competitively
    especially if they are on demand. You get an opportunity to attract a new
    clientele and still increase your profit margins. Even though you don't have
    the same exact product, you can offer clients a similar item at a competitive
    price. Bear in mind that data scraping
    is meant to help you identify what your competitor is doing to be better than
    you. That's why you mostly need to target the best in the business.



    Adjust
    your product catalog



    Custom
    web scraping can give you critical
    details about what your competitors have in stock. If you have a large store,
    you cannot check all your competitor's products manually as the site has many
    pages.  Web scrapping provides a quick
    and effective solution to review your competitor's product catalog and optimize
    your own inventory in order to attract a greater customer base. You will get
    valuable information regarding the stock items available as well as the price
    point in which they are offered.



    Attract
    the right geographical audience



    A store can have different pricing structures
    across geographies and competitor price attracting allows you to gain insight
    on the right pricing for each location. You can charge more based on where the
    store is located because certain neighborhoods attract a wealthier clientele.
    Before coming up with pricing structure, you can benefit from web scraping the data to monitor the
    prices.



    Look for a company that can offer you a reliable
    data mining solution within a short time frame. If you think you need to adjust
    your product price, data scraping is
    very important.

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