Competitor price monitoring is a crucial cog in the wheel of price optimization, the strategies and tactics used to find the perfect price at the perfect time. It’s both an art and a science (you need data… lots and lots of data).
Monitoring the competition shouldn’t be the only criterion you use to set your prices, but it most definitely should be part of that equation. Competition in the ecommerce industry is fierce.
Think of price monitoring as one of your comparison tools used to keep an eye on the competition.
Download this free “how to” guide for creating your price monitoring strategy!