eCommerce Pricing Tactics and Strategy

Strategies and best practices how to grow your business with Scrappie

October 26, 2021

You've decided to enter the ever-growing eCommerce arena. You set up your website, used a third-party e-commerce site to build it, and set up your products. You even did some research online and started a marketing campaign to start generating traffic and converting that traffic to sales.

Sounds like you're all done right? Unfortunately not since you're most likely selling a product that might have competitive pricing. It is important to add to your mix of operations a way to track competitor pricing. Yet to monitor competitor pricing manually can be quite time-consuming and it can take away from other important aspects of running an eCommerce business. Fortunately, there is software for price comparisons out there.

Competitor price monitoring done easily

Instead of searching online for the specific SKU or another identification number, and scrolling through numerous websites, there's a much better way to handle competitor price tracking and that's through specialised software for price comparison. Keep in mind not all price competitor monitoring software is the same, and it's important to find the right competitor price tracker that monitors competitors prices as well as takes appropriate action.

Product price monitoring

This is where Scrappie comes in. This software’s main task is to monitor competitors prices, but it doesn’t stop there. It analyses and monitors large sets of data, and then eventually starts handling one of the most important items when handling competitive pricing and that is smart pricing.

What is smart pricing?

What smart pricing is, and what Scrappie excels at, is the consistent shifting and changing of your prices to stay competitive. This is done when it handles competitive price monitoring and eventually starts changing the pricing of your items so that they have competitive pricing. This means that your prices usually end up beating out the competition, and you are always the one with the best prices around for the product.

Smart reprice

It also ensures that since Scrappie is also monitoring competitors pricing, that it will check when your competitors raise their prices and shift your prices in an upwards direction so that you can maximise your profit, while still staying competitive.

Sounds great but is it expensive?

Software for a price comparison can get expensive, but we are also true believers in being competitive and ensuring that our prices meet or beat out the competition. How else could we offer such a tool that tracks competitor pricing without being able to use it properly ourselves to ensure we've got the best pricing in the market.

Just keep in mind, that if you want to stay successful in this constantly shifting market, you need to be able to have the right tool that works tirelessly 24/7 so that you don't spend your whole time monitoring not only your competitor's pricing but also changing each individual price of each item one at time.

There's no need for that and we can show you how with Scrappie. Let the automation handle all the heavy lifting that needs to be done, and get back to pushing your marketing or sourcing new items.

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