The Use of Extensions to Track Prices

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Only a few monitoring tools already include price tracking extensions for your browser. Nonetheless, having a competitor’s price monitoring extension is a more dynamic and immediate way to keep track of rival’s prices.

Competitor monitoring is a powerful solution that helps you understand the status of your products inside the market and what their situation is in it. By tracking competitor’s prices, you can get to know better the value that the market gives to a particular product. Later, that turns out to be indispensable data for adjusting your prices optimally and monetizing as much as possible your products on the net.

Follow rivals and products on-the-go

Even if you are a brand or a retailer, these extensions can help track the prices of a particular product. It may have happened to you that you are browsing the internet and suddenly find a specific product that catches your attention. Probably, you want to know what the evolution of that product is, but you do not have it included in the price monitoring tool’s list.

Thus, thanks to the price tracking extension, you can start keeping track of that product’s price and intuitively detect what its positioning is among your rivals. However, we want to remark that in many cases you might need to monitor that rival (in other words “follow it”) to be able to monitor its prices.

Extensions are dynamic and immediate solutions for your e-commerce

So, we said that the extensions are more dynamic and immediate solutions to monitor competitors’ prices than the price tracking tools themselves. Extensions are more dynamic because you can start tracking the competition and products that catch your attention while you are browsing the internet. In the same way, you can unfollow those products or rivals that do not interest you anymore and start following other ones.

Besides, it is an immediate solution because you can visualize relevant information directly while using the extension. Every time you enter a possible rival’s website, the extension will ask you whether you want to follow it. Once you have monitored that competitor, you can connect your products with theirs in order to visualize intuitively what the comparative price ranking is.

This way, you can obtain immediate data about the market’s prices status and get an insight into your current situation in it. By using the price tracking extension, you are capable of making justified pricing decisions based on the current values of the vertical you are working in.

Benfits of using an extension to track prices

Price tracking tools

Monitor specific competitors and a list of products.

See the price evolution of your selected products and its positioning in the market.

It includes features to reprice products and optimize prices.

Create alarms and reports.

Price tracking tools + extension

Monitor specific competitors and a list of products.

Follow and track prices “on-the-go”.

Simple way to connect and disconnect products you are interested in.

See the evolution of your selected and followed products, as well as positioning.

It includes features to reprice products and optimize prices.

Create alarms and reports.

Thus, if you add extensions’ features “on the go” to the monitoring tools’ functionalities, you can collect truly valuable information that will surely help you make better decisions and increase your competitiveness level.

On the other hand, monitoring tools allow you not only to monitor particular competitors and products but also to see the pricing history, so you can get a much broader yet detailed insight into the vertical’s situation. With all this, you can identify whether there is any regular trend or pattern concerning prices. That helps you stand out from your rivals with a much more competitive pricing strategy.

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