The trend of online shopping has emerged more than anything in the 21st century. Because it has given the ease to the buyers that they can shop from wherever they want. Whether it is their sitting couch in the drawing-room or their working desk at the office, they can buy things from their favorite brands with just one click. This made the online market a more competitive place for brands who want to boost their sales. And, this made it essential for the brands to have an Al Price Monitoring Software.
Enhancing Your E-Commerce Presence
The sales of the products can be increased by effectively monitoring your competitor’s price. By using Al price monitoring software, you can easily revisit and optimize the price of your product in sale. This gives real-time data gives you authority to optimize your prices and convert potential shoppers into your customers as everyone wanders around the internet to look for the best product at the best price.
The accuracy of this software accounts for around 99%. As it gives you data from the past two years to monitor and manage your price according to the trends in past.
Be the First All the Time
Talking about online shopping sites like Amazon, it reviews the price every 2 minutes. This makes things work more effectively for the site. With the Al price monitoring software from sites like Intelligence node, you can do that too. It refreshes the data every 10 seconds so that you can cover loopholes left by your competitors.
Moreover, it helps you to analyze prices across the e-commerce ecosystem, where you can compare prices of the brands around the globe.
Earning More Profit than Your Competitors
By using this software, you will not only get to monitor the prices from your competitors but also get to earn more profit margins by optimizing your price on smart price recommendations. This gets the intuitive tools to work and analyze the market trends, product availability, demand, and price threshold. This ultimately gets aligned to know what makes shoppers happy without compromising your profit margin.
And when it comes to identical products, this software has the best in-class product matching capability. By monitoring pricing strategies and product availability it helps in curating optimized prices that help you to stand above your competitor. And with the help of the Patented crawling algorithm, you can monitor prices of the same product in local and international markets.
What Qualities to look in Price Monitoring Software
Price Monitoring Software is considered as most accurate competitor price monitoring software in the eCommerce industry. It improves the conversion rate and increases the profit margin. It minimizes the man-hours and enhances savings for the business entities. Features to consider in Prize Monitoring Software are;
- Stock movement visibility
- Category standardization and enrichment
- Accurate product matching capability
- Competitors price monitoring
- Historic pricing data
- In-depth competitor tracking
User-Friendly To Use with Plug And Play
With the plug and play and API export capability you can access the software’s price monitoring easily. The customized APIs do not need integration and can deliver extremely accurate price monitoring data.
Summing it up,
The significance of Price-Monitoring Software cannot be neglected in digital marketing. And it has become mandatory than a need for the brands trying to expand their presence in online shopping. So, ostensibly a good price monitoring software can help you grow faster than others.