Competitor Price History – What It is and Why It’s Important?
Did you know that 94% of customers compare prices online before they make a purchase? So why as a business would you give them scope to consider your competitors’ products by sleeping on the power of tracking their price history? In the e-commerce space where every click has an impact and the preferences of your potential client bases or audience change fast, competitor monitoring is the real deal especially understanding how they price their products. That’s because keeping a tab of your competitors' price history can help you predict market trends before they unfold, adjust your pricing in real-time to cut through in the competitive markets no matter what industry you're in and supercharge your sales. Research shows you can even boost your profit margins by 10% using this strategy as 79% of customers compare prices online and consider it as one of the most important factors when making purchasing decisions. Want to know all about competitor price history, wh...