Marketplace Data Tracking
When it comes to price competition on ecommerce platforms like eBay, Amazon, Shopify, Google Shopping, and more you need automations/apps/tools that will make your work for market research easier, make it easier for you to access the data in the market, and save effort and time.. Because there are thousands of sellers and millions of products available to buyers. It can be difficult to keep an eye on the market and keep track of the information you need for profit maximization. That’s why Prisync’s software is always there for your ecommerce business. Marketplace data tracking feature of Prisync, collects price/price changes, stock and other information of your competitors to give you a brief analysis for how you should set smart strategies for expected & wanted business outcomes.
Ecommerce marketplaces belong to many sellers and buyers. For example, eBay, Amazon, Shopee, and Lazada are all popular ecommerce marketplaces. Although the marketplace has potential customers under the roof, it is hard for both buyer and seller to clearly define the product pricing, promotional activity and marketing costs incurred in the marketplace to provide a fair comparison.
Moreover, the marketplace information does not have a single source to easily and consistently access. The marketplace also utilizes a protection service to prevent web spam, crawlers, bots and other invalid inputs to the last resource of the ecommerce marketplaces. Algorithms also play an important role in information aggregation, creating campaign executions, and consumer targeting.
Marketplace solution is used for platforms that have very crowded sellers, such as Amazon or eBay. Since there can be several different sellers selling the same product, you might need to track several URLs from the same sites or hundreds of urls only for one product. Prisync software will be very useful for this problem. It takes the burden of the complicated and tiring process of tracking hundreds of sites and product data from you. Because the marketplace data tracking feature can track an unlimited number of times and does not restrict you to products or websites. With this feature, you can track different competitors from the same marketplace by monitoring them.
If you need to track a marketplace URL or seller domain of a certain competitor, the marketplace data tracking feature is for you. Amazon, latest-technology or any other marketplace sellers’ index values that come from data tracking is calculated for each marketplace competitor separately. Index data specifically shows your product’s price compared to the average price of that product in the market in its category. Which means, with these indexes you can easily understand how your product stands in the competition. In addition, where it takes its position in the marketplace. This way, you can correctly perceive the position of the product in the market and make the price changes accordingly to that index value.
Price Tracking
Prisync helps you track prices, market data and make smart comparisons daily, along with our intuitive interface, and easy-to-use dashboard technology. You could even access that data using daily excel reports and email alerts.
Integrate your system with your pricing rules, making it possible for you to automate price changes. Track your competitors in the marketplace, and stay dynamic with your pricing strategies. Adding your products to the Prisync dashboard is a very easy process. The system does not set you a limit on the number of products. In addition, you can tag some products you have determined and put them in different categories. For example, premium products or average products. This will provide an even easier data tracking area on the dashboard, which already offers you an easy summary/analysis.
Price Changes
Prisync’s software shows you the number of products that have at least one changed price in the last 24 hours from your marketplace. You can click on ‘increased’ or ‘decreased’ to view a list of these products. Add your competitor’s product URLs and just follow the updates daily.
For example, we know that Amazon makes more than 2.5 million price changes per day. This is an incredible statistic. Moreover, not only Amazon, but also all brands and marketplaces in the highly competitive ecosystem of ecommerce make thousands of price changes per day. Imagine trying to track these changes manually. The effort and time you spend… Prisync saves you time. Moreover, it prevents you from leaving money on the table. Because we know from our customers, they always keep their earnings high with the right price changes and they enjoy selling with the most optimum price. This, of course, goes through good data, price change and competitor tracking.
Tracking Summary
With Prisync’s marketplace data tracking feature, it is possible to see how many different products from different brands, and categories you are tracking. The total numbers appear in the table tables to give you a brief overview of every data.
Prisync’s crawlers and bots can extract data from complex, multilingual, or multi-currency marketplaces, no matter how the page is structured. That’s why you don’t have to do a selection for the websites or marketplaces you want to track. Also, it doesn’t matter how many products and categories or brands you want to track. There is no upper product number limit for you to add your products to the Prisync’s dashboard.
Stock Information
You should always have stock information of your competitors. This gives you control over your marketplace. If the number of stocks of your competitors is decreasing and you have enough stock, you can increase your prices by keeping them dynamic and setting a new price accordingly.
With marketplace data tracking, the Prisync engine collects stock availability information and adds it to your overview. In addition, with this easy and practical feature, you do not need to manually track stocks. Increase your profitability by saving both time and effort.
Prisync’s dashboard gives you a clear view of your competitor’s price landscape from your marketplace. You can track the data such as stock information, price changes, your price positioning in the market. ( How many of your products that are the cheapest, highest or average, etc.) and a summary of all this data.
Price positioning is the act of placing a price on a product or service that is within a certain price range. It indicates where a product sits in relation to its competitors in a certain market as well as in the mind of different customers. For example, a good price positioning in the marketplace can make a product unique. The users can consider using it as a distinct benefit to them with the money they pay for it. It is also helpful and beneficial for your brand’s image too.
You can also see your pricing index value on the right top of your dashboard for each of your products. It is calculated by dividing your price for that product by the average price in the market and multiplying by 100. In addition, it’s very easy to follow the historical fluctuations of your index value over time from this chart.
Competitor Tracking
It is possible to check the summary of your competitor’s sites you are monitoring and the number of products that you are price tracking with Prisync. List all your competitors’ index values with the exact same index calculation that we explained previously.
In the tables above, you can see the historical index fluctuations of prices on different sites. First table is from the UK market and second is from the US market. Prisync dashboard allows you to have a deep analysis of your marketplace data and competitor’s product price information. We aim to give you quick and easy to catch up insights on what’s going on in your competitive pricing landscape and marketplace.
With Prisync’s analysis you can easily drill down the data at the product, brand or category level by navigating yourself from our dashboards.
See your position among your competitors with Marketplace analytics. It will be very useful to make comparisons such as whether your product price is average or cheapest or highest. You can do this in all your products, regardless of the number. Just add an unlimited number of competitors and products that you want to keep tracking and analyzing.
This feature is quite good to see the pricing of products from different product categories. For example, it will be very easy for you to check the number of products you sell in the premium category. Whether they continue to stay in the market with high/premium prices or not.
Summary
Prisync’s goal is to track competitors of yours from any marketplace. With this feature, you can mark up a specific URL connected to that marketplace. Track the data that you need in order to analyze your business strategies. Such as profitable price decisions. The index value of market place sellers will be calculated differently for each URL you mark. It provides stock availability information, the marketplace position of your products by their prices, price changes & indexes and more. Collect data with Prisync software from your marketplace to have better control of your market.
- Enjoy selling with the most optimum price. This, of course, goes through good data, price change and competitor tracking.
- Save time and effort by adding your products to the Prisync dashboard and don’t leave money on the table.
- Make profitable price & market decisions with the data analysis and summaries of Prisync software.
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