17 votesDaria Samokish supported this idea ·Daria Samokish commented
Competera price monitoring platform (https://competera.net/) has an entertaining idea for retail and its realization depends on your concernment. All managers of online store provide competitive analysis for developing the pricing strategy. If there is the small quantity of products, the prices can be found manually. However, if there is ample quantity of items, monitoring should be automated. The backbone of our idea is to develop an extension, which allows monitoring of competitors prices directly from their websites. Pressing the button you can choose desired competitors and the products or product categories for monitoring. Consequently, the benefits are 1) time-saving on the routine processes 2) quick reaction to changing of competitors’ prices and offering of market insights 3) activating and optimization of repricing process 4) information of competitors stock availability and their promotions. We are on the stage of collecting feedbacks from retail, so we will be grateful for your comments regarding your current monitoring approaches and your interest to our suggestion.