Introduction to Price Monitoring
In the digital age, where competition is just around the corner, monitoring competitor prices becomes crucial for every entrepreneur. Dealavo, as an advanced tool, offers unique opportunities to track and analyze market prices, which allows companies to maintain competitiveness and optimize their pricing strategy.
Why is Price Monitoring Important?
- Understanding the Market: Find out what prices are like in your industry.
- Price Optimization: Adjust prices in response to market changes and competitor behavior.
- Increase Profits: Smart pricing strategies can significantly increase profitability.
Dealavo – Your Price Monitoring Tool
Dealavo offers not only basic monitoring functions, but also advanced repricing options. This enables dynamic price adjustments based on current market data and competition activities.
Dealavo – a program for monitoring prices of any platforms – both Marketplaces and individual online stores. Source: https://dealavo.com/en/top-6-tools-for-competitor-price-tracking-in-2023/
Dealavo Key Features
- Market and Competition Analysis: Collect and analyze price data in real time.
- Dynamic Repricing: Automatic price adjustment to changing market conditions.
- Easy Integration: Dealavo cooperates with popular e-commerce platforms.
- Price Alerts: Alert you about sudden price changes and price wars.
Price monitoring in Dealavo, source: https://dealavo.com/en/price-monitoring
How to Use Dealavo Effectively?
- Select Products to Monitor: Determine which products require special attention.
- Set Pricing Rules: Define a pricing strategy tailored to your business.
- Analyze and Optimize: Regularly review collected data and adjust your strategy.
Dealavo pricing rules
Dealavo offers a variety of pricing rules that allow for flexible price management:
- Pricing between two competitors: Automatically set prices between two selected competitors.
- Margin with amount/percentage mark-up: Ability to set a price with a minimum specified margin.
- Prices relative to the competition: Generate prices lower or higher than selected competitors.
- Price change by a specific amount/percentage: Adjust prices by a set amount or percentage over a set period of time.
- Cost-based pricing: Set prices on a cost-plus basis.
- Prices based on market position: Set prices relative to your competitors’ market position.
- Prices with low stocks: Automatically reduce prices at end-of-series and sales events.
- Optimizing profits from AI: Use AI to optimize prices according to market data.
The Dynamic Pricing function available in Dealavo allows you to use automatic price repricing to adapt to the market situation, source
Case Study
Dealavo is not just a price monitoring tool, but a comprehensive price management platform, providing entrepreneurs with an advantage on the market. Thanks to intelligent solutions and a flexible approach to pricing, Dealavo is the ideal partner for companies seeking to optimize their profits and maintain competitiveness.
If you want to see how Dynamic Pricing works in practice, check out the Case Study below: