subject: Ecommerce Sales Booming, Are You Really Capitalising On It? [print this page] Ecommerce Sales Booming, Are You Really Capitalising On It?
The MasterCard Advisors SpendingPulse report has shown some very exciting figures lately, showing us that $13.8 billion was spent online, so ecommerce is booming. This is largely due to the fact oil prices are sky high so people are staying in. So in order to capitalise it, a lot of businesses are monitoring competitors pricing so as to stay ahead in their sector. This allows them to be always priced competitively and hopefully, always be the choice of customers when shopping.
Competitor price monitoring is a simple service. Ecommerce stores provide the websites of which they want to monitor their competitors pricing on, and then web spiders are set up to crawl the web pages on a regular basis, and the product prices are fed into an online dashboard. This allows etailers to see at a glance what products are changing price, by how much and by how often. Many etailers actually elect to have email alerts sent to them so they never miss a trick. This ability to be alerted to any changes to competitors pricing means etailers can always offer the best prices, and before they know it they've stolen a huge chunk of customers from right under their competitor's noses. And the best part? Competitor price monitoring is a disreet service, so no one will ever know you are doing it, and your competitors have no way of finding out. They stand little chance of staying ahead on the pricing wars if they are simply manually checking prices. In reality, they actually stand no chance. You get to concentrate on what you do best, which is running your business, with the confidence that you are keeping tabs on your competitors pricing.
Now is the time to capitalise on this willingness to buy. There are clearly enough potential customers out there, you just need to ensure you are making the most of every opportunity, and being aware of your competitors pricing is a sure fire way to do that.
When you consider the huge potential benefits of tracking your competitors pricing, you will see what I mean about how it is worth the small investment. A simple search for 'competitor price monitoring' should bring up some good options, and most companies offer a free trial so why not test it out. Good luck!
