Monitor the pricing of your competitors and track the price changes frequently. This way you can stay one step ahead of the competition. Because ecommerce consumers are seeking the best offers. So, you must have the ideal price for your products. Increase the benefit of your store’s profitability and your customers’ preferences. Keep track of your competitors with the best competitive pricing tools in 2023. This way you can increase your profit margins and attract your core audience.
Competitor Price Monitoring Tools uses data science and machine learning to provide competitive pricing. It takes into account a variety of internal and external data. Such as competitor price and product information updates.
What is competitor price tracking?
Competitor price monitoring or price intelligence, is the practice of keeping track of price changes of competitors. So that you may examine recent and past price changes and improve your pricing strategy.
You keep an eye on pricing changes every day. Learn more about the products, stock availability, prices, promotions, and tactics of your competitors.
Tools for competitive pricing make price tracking simpler and more effective. You won’t have to worry about manually keeping up with your competition. Don’t miss out on crucial pricing updates by using a price tracking tool. This is great because it helps in your decision-making regarding your future pricing strategies.
Why do you need competitive pricing tools?
- Save time with tracking automation
- Keep an eye on competitors
- Set smart prices to increase your revenue
- Attract your consumers with the best offers
- Stay ahead of the competition
- Get to know your competitors’ strategies
- Have profitable promotions and discounts
Let’s start to take a look at the best competitive pricing tools in 2023.
1. Repricer
This is a pricing monitoring tool that focuses on Amazon repricing.
This tool tracks competitor prices and tells how often those prices change. See what percentage of your products overlap with each competitor. Also, the tool lets you check the products they are beating you to the Buy Box on.
Best for: Businesses that sell products on Amazon & eBay marketplaces worldwide.
Pros:
- Get actionable analytics
- Manage pricing across Amazon, eBay, and more
- Its features target the Amazon Buy Box
Cons:
- Repricer is more focused on Amazon and eBay
- If you’re not selling on Amazon, you might consider not using this tool
- It’s a costly tool compared to others
Pricing:
- Repricer has four pricing options: Express, Plus, Ultimate, and Extreme. It starts from $75/month to $1099/month. All plans have different packages
2. PriceLabs
PriceLabs offers PMS integration and data-driven dynamic pricing. Users may obtain insight into their business. You can track competitor price sand manage your pricing to generate higher revenue with PriceLabs.
Best for: Hotels, property managers, vacation/ rental hosts. If you are renting your properties on platforms such as Airbnb, it suitable for your needs.
Pros:
- Offers dynamic pricing options
- It is globally used with no constraints
- The tool has a 30-day free trial
- It has a Booking Analyzer starter kit
Cons:
- The tool is more focused on vacation and short-term rental property managers
- Not applicable to Shopify, Google Shopping, etc
Pricing:
- PriceLabs’s pricing starts from $19.99 per month
3. Import.io
This is a cloud-based web data integration platform. It allows users to extract, prepare, and integrate web data into the insightful analysis. The tool processes data using spreadsheet methods like those in Excel. Users can construct rules that transform data anytime it is extracted automatically.
Best for: A very easy tool for those who have no basic knowledge of code and programming.
Pros:
- Covers six different industries: retail, travel, ecommerce, brand, hospitality, and analytics
- Delivers a variety of data for your business analysis. Such as pricing, market changes, and shipping. etc
- No technical integration is needed
Cons:
- The tool is cloud-only
- Data extraction can be challenging due to the possible need for coding
- There is a lack of desktop application of the tool
Pricing:
- Import.io has a pricing plan for $299/month or $1999/year
4. Mozenda
Automated website data extraction from any website is made possible by Mozenda. Users of the tool can arrange reports on information gathered from websites, such as pricing, product, and market updates.
Best for: It is very useful for basic information scraping from straightforward websites. Mozenda is a simple method to simply capture data. If the information you need to obtain is clearly mentioned on a website, the process happens.
Pros:
- Good customer support
- Clean graphical user interface
- The software has great error handling
- The tool is compatible with XPaths
Cons:
- The number of page credits needed is not determined
- Testing bugs happen
- The solution is available for Windows only
Pricing:
- Mozenda has pricing packages for professionals and enterprises. The professional plan is $99 – $199/month. Enterprise is starting from $3,500 and can be customized
5. Model N
The tool assists in offering consumers the correct items at the right pricing. Monitoring gross profit, pricing suggestions, and other factors may provide recommendations. Additionally, it interfaces with ecommerce websites and selling platforms.
Best for: It is good for revenue management solutions for the life sciences and technology industries.
Pros:
- Delivers an end-to-end revenue management
- The contract management module supports is diverse
- The price quoting module supports robust territory management and price security
Cons:
- Competitive pricing tools’ data extraction and reporting can be simpler.
- Its data visuals to management can be clearer and simpler
Pricing:
- Model N’s pricing information is not provided
6. PROS
PROS is a smart price optimization tool that compiles all of your price data into one source. The solution gives companies of all sizes and in all sectors the ability to take control of their dynamic pricing strategies. Futhermore, aims to understand the strategies and provide market-relevant prices in real-time.
Best for: The tool is good for offering transparent, and dynamic prices. Their software helps retailers maintain a consistent pricing strategy in fast-paced markets.
Pros:
- Harmonized pricing across all channels
- Dynamic price recommendations
- Smart analytics for visibility into pricing and profitability
Cons:
- The implementation process can be challenging and requires training
- Website speed performance
- Most of the reviews say the tool is costly
Pricing:
- Not provided by the company
7. Pricefx
Pricefx is a tool for pricing optimization and administration that offers a quick way to set prices. Plus, you can plan, price, and profit dynamically with the help of the tool.
Best for: Retail and distribution, CPG, industrial manufacturing, and aftermarket parts.
Pros:
- Ease of deployment
- Quality of end-user training
- Technical support
Cons:
- Modifications can sometimes be complicated to implement
- Tool upgrades are doable only for further payment
Pricing:
- Information is not provided
8. Zilliant
For B2B businesses, the cloud-based platform Zilliant automates the pricing and sales processes. It enables organizations to obtain key leads by assisting in the management of inventory, sales, and more. Also, real-time market pricing gathers information from a variety of sources. It presents prices that are optimum based on industry standards.
Best for: pricing solutions supported by data scientists
Pros:
- The tool offers omnichannel pricing solutions
- Deliver initiatives according to promotions, and price changes
- Helps to segment customer base and target groups
Cons:
- It is still evolving as a tool
- Visualization capabilities
- No integrated email system
Pricing:
- No information is available
9. Fluxguard
The tool monitors changes to millions of pages for brands and businesses.
Surface leaks, errors, defacement, and compliance risks, automate competitive and regulatory intelligence. In addition, it monitors and validates competitors’ updates/changes such as pricing and other product information.
Best for: For professionals, Fluxguard offers synthetic transaction monitoring and visual regression testing to increase revenue.
Pros:
- The tool has a free trial and a free version
- 24/7 live support
- Create simple rules to alert businesses to key changes
Cons:
- Fluxguard is more focused on small businesses.
- It is still evolving as a tool
- No integrated email system
Pricing:
- Starting from $25.00 per month
10. Predify
Predify is an online software for optimizing pricing processes. The tool improves profits with AI and Big Data Analytics.
Best for: Created for companies from different sectors that wish to automate their financial control and pricing of products.
Pros:
- The tool has a free trial
- The email/help desk is available
- Predify integrates with SAP Business One
Cons:
- Predify is more focused on small businesses
- The main focus is on Brazil
Pricing:
- Small plan: $17.71/month, business plan: $62.02/month
11. Rentometer
Rentometer is a software program that is designed to calculate your rent. It’s the best way to find out what other landlords are charging for rent. The tool uses proprietary technology and data to provide a thorough rent comparison
Best for: Customers who want to rent at the proper amounts of price. This way, they can maximize their profit or adjust fair prices.
Pros:
- It has a 7-day free trial
- The Basic membership is free and doesn’t require a credit card to be on file
- It offers a very simple interface
- The information you’re getting from software is very reliable and can extract lots of data
Cons:
- The tool can be oversimplified
- The listing format isn’t outstanding
Pricing:
- Starting from $79/year to $199/year
12. Data Seekers
Data Seekers is a SaaS company based in Malaga, specializing in data and price extraction and monitoring.
Best for: The tool is good for offering its services mainly within the tourist sector, focusing on hotels, hotel chains, and other tourist accommodations.
Pros:
- Great customer support service
- High-level flexibility, capability
- Quick adaptation for customer needs
Cons:
- The tool is mostly focused on the travel, and hosting industry
- Small-sized companies use the tool more efficiently
- No integrated email system
Pricing:
- No information was provided
13. Edited
The Edited leverages both competitive data and internal business data. It aims to optimize the price of every product in your assortment, no matter where it is sold. Focuses on complete visibility of pricing strategies in the market. It aims to increase overall profitability.
Best for: EDITED works with mid-size businesses, small businesses, enterprises, freelance, nonprofit, and government organizations.
Pros:
- Edited provides training, webinar, and online support
- Exclusive reports
- One dashboard contains all information
Cons:
- Only available for English
- More customization and integrations are needed
- It is a still-evolving tool
Pricing:
- No information listed
14. Shopgrok
Professionals in retail can utilize this tool to make better choices about price and smart decisions. Plus, the tool aims to make data collecting and mapping painless. It provides meaningful insights to make an accurate analysis.
Best for: The tool is suitable for data analytics services. It can provide valuable insights into consumer behavior, preferences, and trends.
Pros:
- Analyzes a wide range of product pricing
- Exclusive dashboards of price range and comparisons
- Good customer support
Cons:
- Shopgrok is new in the industry
- Slow user interface
- Data analysis can be complex and technical
Pricing:
- Information is not provided
MEET WITH PRISYNC!
Best for all your pricing needs.
Prisync provides smart and profitable solutions for all sizes of ecommerce companies to improve their pricing strategies. Our competitor tracking automation saves you time and effort. It daily monitors close competitors’ product updates to keep you informed. To stay ahead of the competition, use Prisync’s competitive pricing engine. Focus to increase your overall revenue.
What you’ll have with Prisync:
- Unlimited number of competitor price tracking
- Find the prices of the product variants—size, color, etc.
- Channel-based competitor price tracking
- Dynamic Pricing rules based on product costs and competitive intelligence
- Worldwide site and currency coverage
- Amazon-based competitor price tracking
Leave a Reply