Ever get frustrated that a competitor has changed their prices just after you changed yours? Do they always seem to be able to react instantaneously to any change you make? If so it’s likely that they’re using some form of price automation. If you’re changing prices manually, price automation can be incredibly irritating to go up against. It can feel like anything you do is immediately countered by your competitors.
How do you price a product? You look at the margin you want to make. Look at what your competitors are charging.
It shouldn’t be a surprise that ecommerce has changed dramatically in the last few months. Lockdown has significantly altered consumer behaviour as we’ve been forced to adjust our lives.
how to do a competitor analysis in a competitive market?
At BlackCurve, we define competitor tracking as any strategy that involves monitoring competitor data and adjusting your own prices accordingly. This is often as simple as finding the lowest competing product and undercutting the price
Topics: Competitor Price Tracking