Price comparison projects are generally completed using two or more sources, such as your own web store prices and a competitor’s price table. To effectively compare prices, the data from both sources should be in the same format, and be matched product for product. Web scraping software like Mozenda can perform these functions with precision, based on your knowledge of the data, not your technical experience. Using a web scraper to compare prices has many use cases such as:
- Increase margins by adjusting prices at the right time in the right place
- Increase sales, hence higher revenue
- Maintain a competitive position in the market
- Improve your own cost management by using competitor prices as a negotiating ground with suppliers, or review your own overheads cost and production cost
- Come up with effective pricing strategies, especially during sensitive times such as season-end sales or holiday seasons
Knowing your competitor’s pricing is one thing; having a database of rich information about your competitor’s products and behavior is another. Most retailers and e-commerce vendors try to put as much information about their products online as possible. This is great for the customer, but it can sometimes expose them to their competitors. Details such as inventory levels, discounts, product turnover, new items added, new locations added, product category ASP, and many other data points can be determined by capturing the right data fields on a web page.
How does Mozenda work to compare competitor prices?
Unlike other parsing based web scraping software, Mozenda uses browser rendering technology which allows the Mozenda application to look and behave like a web browser, but act like a web scraper. This is especially useful when capturing product attributes such as name, price, available quantity, item number, description, and so forth. With Mozenda, all you have to do is click on the values for the fields you want to capture, and the underlying text is added to your database.