Price trackers are tools used to track and compare prices of products and items for sale online . Price trackers track products on (public) websites and marketplaces such as Amazon or Aliexpress.
These price trackers are often used to compare the prices of our products with those of our competitors, and based on this, adjust the prices of our products taking into account those of the competition . What better way to be competitive in price than by knowing the price of the competition.
It may sound like a complicated task when we talk about comparing many products, but price tracking tools allow us to speed up some of these processes.
Price trackers, what they are and how they can help me
This service is usually used to find a product at a lower price Taiyuan Mobile Number List on another website. In our case, we will use it to compare the prices set by online stores that sell products with comparatively cheaper prices.
The process is the following:
Your store sends a product query to the price tracker. This can be done manually or by establishing an API connection between your store and the price tracker.
The price tracker receives this request (either via the API or from the e-commerce site itself). It then compares the price of that product across multiple e-commerce sites in real time.
Once the product tracking is executed, the price tracker returns a list of the compared prices, showing us the name of the merchant offering it and the current price of the item, the comparison list is displayed in the format that has been set, or on the same platform (for example, emails or even Excel spreadsheets).
You can then decide which price is best and use that for your store. Price trackers have dynamic repricing , so you also don’t have to worry about losing a sale because your competitor has lower prices than you.
Being such a versatile tool, it is compatible with marketing strategies such as dynamic remarketing .
price trackers
Key Features of Price Trackers
Price trackers typically have several functionalities,including
Repricing . This adjusts the price of your products based on a Benin Phone Number List rule; for example, if there is a product below a certain price “x”, adjust the price of my product to “x”, usually in order to get a more competitive price.
Historical . This will help us to know the prices that a product has had over a period of time.
Integrations. Price trackers can have integrations with other CMS such as: Shopify, Magento, WooCommerce, Prestashop etc… This makes the use of this type of tool much easier.
How to do the matchmaking
Product matching is a process of relating products that, although the same, have different names/titles . Matching can be done in several ways:
Coincidences
The degree of similarity between the texts (title and description) and the product image is measured to screen the necessary information and thus achieve effective matching.
Prices
Similarity is measured based on price comparison. Prices and offer prices of a product on the market are analyzed. If similarity is found, products in the same range are displayed.
Image
Image similarity is based on the principle of matching, quantified by comparing image characteristics, color temperature, brightness, etc.
Attributes
