How to avoid errors in price monitoring

Global ecommerce studies continue to talk about the phenomenon of 'ecommerce boom' with sales figures that continue to grow, new competitors that are constantly appearing in the market and increasingly agile users that compare prices. You just have to see any study, such as that by Credit Suise earlier this year, Many e-Commerce Opportunities Ahead in Emerging Markets, to prove it. Online selling is not a monopoly; there are dozens of competitors in every sector, from global... + read more

Why should online stores monitor their own prices?

As well as monitoring competitor´s prices, online merchants must monitor their own prices. We may think that the fundamental reason is the need to compare their prices with those of their competitors, but there are more reasons. In every pricing process (market price research for a product and post fixing) errors occur. On some occasions, we have verified how electronic businesses took products at zero cost, or with erroneous prices, either much lower or higher than their real... + read more

Competitor price tracking

What is and how can we monitor competitor’s prices? One of the main advantages of e-commerce is its global reach, regardless of where the customer is, they have at their disposal a large catalogue of shops where they can buy the products they need. This benefit is for the customer, for the merchants however it is an added problem, since they compete against dozens of businesses that sell the same products. The trader needs to have an idea of ​​what the market price is, and what... + read more

When to increase our prices using Competition Monitoring Software

It seems simple to determine when we should reduce the price of our products; we sell at a price much higher than the competition and we must reduce them, but when we can increase them? To choose the right time and maximize our profits, we will need to use competitive monitoring software, also known as Pricing Intelligence Software. This software will present us with a comparison of our prices with our main competitors, indicating the percentage difference between each one. In addition, we... + read more

What are Price Intelligence and Price Monitoring?

Price Intelligence and Price Monitoring are concepts associated with intelligent pricing, also called Smart Prices. A smart e-commerce can automatically set its prices, saving this tedious task for the marketing department and thereby reducing costs and time. The increasing tendency of the use of price comparators by end customers implies that online shops have to fight to have the best prices in the sector and therefore obtain maximum benefits. Minderest is the first Spanish company to... + read more