Nowadays, people review and compare products and services online before they make a purchase. Price, as one of the most important factors, should be considered in your business. Many companies take price monitoring as a crucial marketing strategy. In this article, you can learn the top 10 price monitoring tools to track you and your competitors’ price changes easily.
What Is Price Monitoring
Price monitoring, also called price intelligence or competitive price monitoring, is the process of tracking and analyzing prices of products or services in the market. It involves systematically monitoring and collecting pricing data from various sources, such as competitors’ websites, online marketplaces, and retail stores, to gain insights into pricing trends, changes, and strategies.
Benefits of price monitoring
Competitive Analysis
The most common way is tracking your competitor’s price, which helps you understand market positioning and adjust pricing strategies accordingly.
Dynamic Pricing
Monitor price data can help you learn the price changes quickly, so that you can adapt dynamic pricing strategies based on real-time market conditions and competitor pricing.
Market Insights
Price monitoring provides valuable data on consumer behavior, market trends, demand fluctuations, etc. A better understanding of the market can lead to increased revenue and customer satisfaction.
How web scraping helps price monitoring
Compared to traditional price monitoring tools, web scraping is the most cost-efficient way to monitor price for small and middle-size businesses with a limited budget. The advantages of using web scraping tool to track price, including:
- Multi-scenario: Besides price monitoring, a web scraping tool can also be used in lead generation, risk management, academic research, and market analysis.
- Multi-industry: In addition, a web scraping tool can also be used in many industries including real estate, car industry, hospitality, consultancy, and more. Rather, price monitoring software is more unilateral and can only be used in e-commerce.
So, you will learn the top price monitoring solutions, both web scraping tools and traditional platforms.
10 Price Monitoring Tools to Track Price Easily
1. Octoparse
Octoparse is a no-coding web scraping tool for Windows, Mac, and browsers. It’s easy to use so that you can scrape price data from websites without any coding skills. The AI-based auto-detecting function makes your data scraping process much easier. It also provides preset data scraping templates for hot websites like Amazon, eBay, Etsy, Best Buy, etc. from which you can quickly extract price data by entering several parameters.
https://www.octoparse.com/template/amazon-product-scraper-by-keywords
Also, you can set the scheduling scraping hourly, daily, weekly, monthly, or any other time you want. It would be great help for you to monitor price of your or your competitors’ products.
Type: Client/Webpage | Price: From $0~$249 per month | Free Trial: 14-day free trial
2. Mozenda
Mozenda is another web scraping tool that can help with price monitoring. It can copy the text and images from any webpage easily so that you can get the price information without yourself.
Type: Client | Price: from $250 per month | Free Trial: Free 30-Day Trial
3. Import.io
Import.io is a powerful web scraping tool that can also extract data from any site. You can enjoy it with its multiple functions and don’t need to worry about your price monitoring. However, it seems it no longer provides personal downloading services, you need to apply for a data service that may cost you much more money.
Type: Client | Price: Customized($299~$9999) | Free Trial: N/A
4. Data Crops
Introduction: Established in 2004, Aruhat Technologies is an India certified software company with a vision of offering technology for continuous business improvements and innovations backed by core competence.
Fee: Customized | Free trial: N/A
√ Data Crop cover from business intelligence to Pricing & Repricing tools.
√ Easy-to-use interface
× Limited data extraction
× Fail to extract data sometimes
Feature:
· Disparate data collection
· Image extraction
· Document extraction
· Email alert
5. Prisync
Introduction: Prisync is a SaaS company that focus on pricing optimization and dynamic pricing for e-Commerce businesses. It provides clients with a price-tracking system for people to monitor competitor price.
Fee: From $59 per month | Free trial: 14-day Free trial
√ Omnidirectional services from helping define product assortment to settle pricing strategies.
√ Real-time price tracking and updating.
√ Email alter.
× Not easy to set up a stable and efficient model.
× Some aspects of customization require fairly technical skills.
Feature:
· Repricing Engine
· Comprehensive report
· Frequent Updates
· Unlimited Competitors
· Advanced Analytics
6. Omnia Dynamic Pricing
Introduction: Omnia provides a full suite of automation tools to help with taking control of product assortment, building pricing and marketing strategies.
Fee: Customized | Free trial: Get Free trial after contact sales
√ Flexible to set up a monitoring model in the software.
√ Easy to use as it explains how the software algorithm works and recommend a proper
√ Comprehensive training system
× Too expensive for a small-size company
× Only provide online support in business hours
Feature:
· Customized pricing rules
· Price elasticity calculations
· End-to-end automation
· Total transparency
7. Price2Spy
Introduction: Price2Spy is an online monitoring tool for eCommerce professionals.
Fee: From $19.95 per month | Free trial: N/A
√ The app is available on both iOS and Android devices. Also has web-app version.
√ Widely cover most product assortment and provide in-time suggestions.
× The price information is not updated in time. Doesn’t update price information in a timely manner(Synchronization issue)
× The dashboard is not friendly for users is not user-friendly
Feature:
· Price Comparison
· Price Change Alters
· Reporting & Price analytics
· Smart spidering
· API
8. Skuuudle
Introduction: Skuuudle is an intelligent monitor platform which can is a clever little platform that compares your prices automatically with that of competitors’. Through a close understanding of prices in a certain marketplace, Skuuudle helps to generate price and product insights on a daily basis.
Fee: From $89 per month | Free trial: Get Free trial after contact sales
√ End-to-end visualization pricing monitoring platform.
√ Get data on time with perfect accuracy
√ Provide monthly report
× Only provide online support in business hours
Feature:
· Data collection
· Product matching
· Quality control
· Easy-to-use Analytics
· Cloud-based
· First-class support
9. Repricer
Introduction: Repricer is a pricing monitoring tool that focuses on Amazon repricing.
Fee: From $69 per month | Free trial: 14-day free trial
√ Supports 18 international Amazon marketplaces
√ Buy box strategy optimization on Amazon
√ User-friendly navigation
× Only provides software and service to Amazon sellers
× The price information is not updated in time. (Synchronization issue)
Feature:
· Repricing
· Competitor analysis (Amazon sellers only)
· Flexible rules set up
· Safe & secure
10. Minderest
Introduction: Minderest is a pioneering company in the price and assortment intelligence sector for both retailers and manufacturers.
Fee: Customized | Free trial: N/A
√ Not only provide monitoring service for retailing, but also for brand.
√ Mobile APP is supported.
√ API extraction is available
√ Client support: via telephone, in-application chat interface or email.
× Limitation to capture prices for sellers requiring an account
× Information is slowly updated sometimes.
Feature:
· In-Store mobile APP
· Brand relative monitoring services
Final Thoughts
Price monitoring could be a tough job without tools. While this is not a complete list of price monitoring tools, it’s a great start. Just choose the most suitable one for your specific marketing challenges. Though it could be a relatively long learning curve to make use of a new tool within your work, your business growth will thank you in the long term.
If the tool is not your thing, and you’re finding a data service for your project, Octoparse data service is a good choice. We work closely with you to understand your data requirement and make sure we deliver what you desire. Talk to Octoparse data expert now to discuss how web scraping services can help you maximize efforts.
