Have you ever wondered if a competitor is selling a product for less than you are? If so, you could be missing out on potential sales. Fortunately there are tools that can help us track prices effectively, and even automate the process in some cases. Let me introduce the three most popular free price tracking tools and show you why these tools will help you win big with your pricing.
I like to track the prices of things I buy quite frequently. I think it’s an interesting pastime, albeit that many don’t consider it as a hobby. Fortunately, there are several tools that make this task easier. There aren’t many free price tracking tools out there, but the ones that do exist are great! This article will highlight several such price trackers with the most important features and what makes them unique. I hope you find it useful!
What Is Price Monitoring Or Tracking?
Price monitoring, also called price intelligence or competitive price monitoring, is the analysis of internal and external (the historical and real-time competitor’s prices) variables prices in order to optimize one’s pricing strategy.
How Does Price Monitoring or Tracking Help with the Business?
- For internal analysis:
Monitoring your pricing history can help to reflect the market strategy. Along with the product rotation and brand value, price monitoring can help to make the best pricing strategy and maximize the profit.
Competitive price monitoring allows you to obtain competitors’ information. This is essential in a market report. Based on collected information, like product-price ratio and your target group, you will have an idea about your market positioning.
What Are the Top 10 Price Monitoring or Tracking Tools?
In short, a price monitoring tool is a MUST!
This article will introduce the best price monitoring tools, I also categorize these tools for you to choose easier.
#1 Web scraping tool
The web scraping tool is the most cost-efficient for small and middle-size businesses with a limited budget. Comparing to a price monitoring software, the advantages of a web scraping tool are:
- 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, a price monitoring software is more unilateral which can only be used in e-commerce.
Related Reading: How to Track Competitor Price with Web Scraping
Type: Client | Price: from $250 per month | Free Trial: Free 30-Day Trial
Type: Add-on Extension | Price: Customized($299~$9999) | Free Trial: N/A
Use case: How to monitor price with Import.io.
Type: Client | Price: From $0~$249 per month | Free Trial: 14-day free trial
Use case: Get price information with Web Scraping Template
When using the Octoparse web scraping template, everyone can capture product price and some other information from Amazon anytime and anywhere. The following result could be what you can get with Octoparse.
#2 Price monitoring platform/software
Price monitoring platform/software, as its name indicates, is concentrated on contributing to the e-commerce industry for monitoring and tracking the prices. That says it’s a professional pay-as-you-go software when compared with #1 web scraping tools.
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
· Disparate data collection
· Document extraction
· Email alert
Introduction: Prisync is a SaaS company the 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 defining 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.
· Repricing Engine
· Comprehensive report
· Frequent Updates
· Unlimited Competitors
· Advanced Analytics
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
· Customized pricing rules
· Price elasticity calculations
· End-to-end automation
· Total transparency
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
· Price Comparison
· Price Change Alters
· Reporting & Price analytics
· Smart spidering
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
· Data collection
· Product matching
· Quality control
· Easy-to-use Analytics
· First-class support
Introduction: Repricer is a pricing monitoring tool that focuses on Amazon repricing.
Fee: From $69 per month | Free trial: 14-day free trial
√ Supports 11 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)
· Competitor analysis(Amazon sellers only)
· Flexible rules set up
· Safe & secure
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.
· In-Store mobile APP
· Brand relative monitoring services
Have you ever wondered which sites have the most up-to-date prices? You’re not alone. There are thousands of sites with price tracking capabilities which means it can be challenging to choose. I’ve decided to keep a list of my go-to price tracking sites and will share them with you.
Price Monitoring could be a touch 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.
How can you tell if a price is going up or down? Some people use Excel or Google Sheets to track price changes and can filter the data based upon a set of conditions that they define themselves. This can be time consuming, error prone, and less than efficient, especially when you are tracking a lot of products at the same time.
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.