How online stores can profit from market opportunities

Let’s find out:

1. Why it’s worthy to monitor prices of your competition

2. How to use monitoring to find new market opportunities

3. How to set prices in your online shop to maximize sales and profits

New business opportunities arise every single day for online retailers

Price monitoring

E-tailers should monitor prices to get the pricing strategy right

and to identify new business opportunities.

Price intelligence tool

The volume of data produced in e-commerce is so vast and volatile

that it’s impossible to analyze it in a conventional way. Price

intelligence software uses advanced algorithms to measure data

effectively which can immediately bring profits to e-tailers.

How e-tailers can increase profit margins?

CASE 1: increase slightly the price and your product will remain the cheapest anyway,this way you’ll increase your margin

You offer the lowest price

on the market and the price

difference between your

offer and competitors’ offers

is high.

CASE 2: raise prices to maximize your margin

You are an exclusive seller

of the product at the

moment. This way you can

dictate the price.

CASE 3: increase prices to maximize margin for customers who value product availability

You are the only one who

has the product on stock at

the moment while your

competitors have problems

with product availability.

How e-tailers can increase sales?

CASE 1: decrease slightly your prices and become a leader

Sometimes the difference

between your offer is so

small that you can decrease

it slightly to go to the top.

This way you can attract

more clients to your store

and increase sales.

CASE 2: decrease prices of popular products

Attract customers with

popular product and sell

them more

suggest the purchase of other, complementary goods with higher margin

What else can be done?

1. Integrate your online store

with monitoring tool and prices

will change automatically

3. Keep on eye on sales and

margins increase

2. Analyze which rules to apply to

automatic price changes

For example:

- Define minimum prices

- Set your place in ranking

- Set the rules of price increase

Get a demo: www.pricelab.co