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Increase Your e-Commerce Sales With Amazon Price Tracking

A man working on a computer in a warehouse, utilizing Amazon Price Tracking to increase e-Commerce sales.

As an e-commerce business owner, setting the correct product prices is crucial to your success.

However, with fierce competition, it can take time to determine the right pricing strategy. This is where the Dealavo tool comes in handy. By closely monitoring prices on Amazon, you can gain valuable market insight and set your prices to outperform the competition. In this blog post, we'll discuss why you should start monitoring prices on Amazon and how it can benefit your e-commerce business.

Gaining a competitive advantage by monitoring prices

You can track your competitors' actions using Dealavo's Amazon price monitoring tool and adjust your pricing strategy accordingly. This information is crucial to staying competitive in the online marketplace. With access to real-time data on your competitors' pricing, you can make smarter decisions about your pricing strategy and maintain your competitive advantage.

A diagram of an e-commerce price monitoring system.

Dealavo operating principles, source: https://dealavo.com/en/price-monitoring

How does Dealavo work?

  1. Using Dealavo artificial intelligence, we monitor prices on selected auction platforms, price comparison websites, and even specific stores.
  2. The internal data quality team still verifies the obtained results
  3. Competitor's prices are displayed in the Dashboard in a transparent and straightforward way
  4. You can flexibly analyze the market thanks to the function of creating filters and segments
  5. Graphical reports allow you to analyze data in a faster way
  6. If you want to react quickly to changes in the market but do not want it to be done automatically, you can set your e-mail alerts and alerts in the application
  7. Thanks to the API, Dealavo allows you to integrate with internal programs in your company
  8. You can export data in any form directly from the Dealavo panel

Control your margins

If you continually lower prices to keep up with the competition, you hurt your profit margins and, ultimately, your bottom line. However, with Amazon Price Tracking, you can track your competitors' price changes and make pricing decisions that keep your margins intact. By monitoring your competitors' pricing history, you can identify opportunities to adjust your pricing strategy and stay ahead.

A screenshot of an e-commerce dashboard displaying sales data and Amazon price tracking.

The Dealavo panel. Source: www.dealavo.com 

Dynamic Pricing 

Manually tracking prices on Amazon is a time-consuming and tedious process. This is where Dealavo's powerful price monitoring software comes in with its automatic dynamic pricing feature – Dynamic Pricing. By automating the pricing process, you can save thousands of hours of work and focus on other areas of your business. With features like price alerts and pricing rules, you can spend more time on strategy and less time changing prices manually.

A diagram illustrating the dynamic pricing process in e-commerce sales.

Dynamic Pricing process, source: https://dealavo.com/en/dynamic-pricing-products

The rules you can use in Dealavo include:

  • Between two competitors– the rule allows you to set prices between selected competitors automatically.
  • Below/above selected values – an option that allows setting a target margin with an amount or percentage markup (e.g., the fixed product price should include at least a 5% margin).
  • Below/above selected competitors  – if we use this rule, the algorithm will generate prices lower or higher than chosen competitors.
  • Decrease/increase by a specific amount/percentage– This setting allows you to reduce prices by a particular amount or percentage during a given time frame. This means that, for example, every 3 days, the cost of the product is reduced by PLN 1.
  • By cost– the “cost plus” principle.
  • Based on market position – when using this setting, product prices are based on the market position of the competition. In the settings, you can, for example, assume that prices should be higher than those offered by the cheapest competitors.
  • Low stock – Option useful for end-of-series and sales; causes automatic price reduction until low stock levels are achieved.
  • Profit optimization – use of artificial intelligence – a rule that deserves special attention. This is an artificial intelligence (AI) pricing optimization mandate. The algorithm learns from the source of collected data and optimally adjusts prices to market conditions.

If you want to see how Dynamic Pricing works in practice, check out the Case Study below:

Dealavo is an essential tool for any e-commerce company that wants to stay competitive in today's online marketplace. By monitoring prices on Amazon, you gain valuable market insight, control your margins, and save valuable time and resources. Choose a reliable tool like Dealavo to help you make informed pricing decisions and outperform the competition. Start tracking prices today and watch your e-commerce sales grow!

Frequently Asked Questions

What is Dealavo?
Dealavo is a tool that monitors prices on Amazon and other platforms, providing real-time data to help e-commerce businesses make informed pricing decisions.

How does Dealavo work?
Dealavo uses artificial intelligence to monitor prices on selected platforms and stores. The data is then verified by an internal team for accuracy.

What is the benefit of using Dealavo?
By providing real-time data on competitors' prices, Dealavo helps businesses make more intelligent pricing decisions, maintain their competitive edge, and control their profit margins.

What is Dynamic Pricing?
Dynamic Pricing is a feature of Dealavo that automates the pricing process, saving businesses countless hours of manual price tracking.

How can Dealavo help me grow my business?
By providing valuable market insight and automating the pricing process, Dealavo allows businesses to focus on strategy and growth rather than getting bogged down in the details of price tracking.

Can Dealavo integrate with my internal programs?
Yes, Dealavo offers API integration, allowing it to work seamlessly with your internal programs.

Can I set up alerts with Dealavo?
You can set up email and application alerts to react quickly to market changes.

What platforms does Dealavo monitor?
Dealavo monitors prices on Amazon, selected auction platforms, price comparison websites, and specific stores.

How does Dealavo ensure the accuracy of its data?
Dealavo uses artificial intelligence to gather data, which is then verified by an internal team to ensure accuracy.

Can Dealavo help me control my profit margins?
By providing real-time data on competitors' prices, Dealavo helps businesses make pricing decisions that protect their profit margins.

Is Dealavo suitable for all types of e-commerce businesses?
Yes, Dealavo is designed to support all types of e-commerce businesses, regardless of their size or industry.

How quickly can I get started with Dealavo?
The setup process for Dealavo is quick and straightforward, allowing you to start monitoring prices as soon as possible.

Does Dealavo provide historical pricing data?
Yes, Dealavo provides access to historical pricing data, which can help you understand trends and make more informed pricing decisions.

Would you be able to help me react quickly to price changes?
Yes, with Dealavo's alert system, you can get immediate notifications about price changes, allowing you to react quickly and adjust your pricing as needed.

Would you be able to help me improve my profit margins?
Yes, Dealavo's comprehensive price monitoring and dynamic pricing capabilities help you optimize your pricing strategy, which can lead to improved profit margins.

Do you know if I can export data from Dealavo?
Yes, Dealavo allows you to export data in various formats directly from its panel, making it easy to analyze and share the data as needed.

How does Dealavo’s Dynamic Pricing feature work?
Dealavo’s Dynamic Pricing feature uses a set of predefined rules to automate the pricing process. These rules can be based on factors such as competitor pricing, target margin, market position, etc.

What kind of reports can Dealavo generate?
Dealavo can generate graphical reports that allow for faster and easier data analysis.

Does Dealavo offer any integration options?
Yes, Dealavo offers API integration, which allows you to integrate it with your internal systems for a more seamless operation.

Can Dealavo support global e-commerce operations?
Yes, Dealavo is designed to support global e-commerce operations, allowing you to monitor prices across different markets and regions.

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