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Price intelligence, also known as price tracking, is a crucial process for any business. Businesses must stay relevant in the market, while buyers want the best prices for their purchases. At Smartproxy, you can get the best programs, like a Google Shopping API, to keep an eye on price intelligence in real-time. Below, we discuss the definition of price intelligence, why it’s necessary, and how to best benefit from it. We’ll also look at a significant market that uses this process, the sneaker reselling market!
What’s Price Intelligence?
Price intelligence means you track competitor prices to ensure your pricing strategy is in line with market trends. The easiest way to collect real-time pricing data is by using a web scraper or advanced API to keep an eye on market prices. It shows you what current products and services cost so that you can find the best deals or match your competitors’ selling prices. Companies and individuals use this tool for various reasons. At the same time, they can reap numerous benefits.
The Benefits of Scraping for Price Intelligence
While there are multiple benefits to using a web scraper to track prices, we look at three of the most relevant ones.
Discover Best Bargains
If you’re a buyer, then you know everyone always wants to get the best possible price. There’s nothing worse than buying an item and seeing it cheaper on another site later. A Google Shopping API tracks what products Google lists. You can compare the prices of different brands and see which offers the best value for money.
In a competitive market, it’s always best to be the first to know of new deals and bargains of which you can take advantage. For example, you can buy that incredibly nice pair of sneakers before anyone else and ensure you never arrive too late at a sold-out sign.
Keep an Eye on the Market
As an individual or a business, keeping an eye on the market provides vital information. Knowing how the market is currently structured will make it easier to buy or sell products. Instantly see if someone sells something at too high a price compared to others or if an excellent deal pops up. As a company, you can guarantee your services and prices fall into the market average, ensuring a competitive edge.
Improve Your Sales
Companies must ensure their prices are the same or better than their competitors. Otherwise, they’ll possibly lose customers. You can improve your company’s sales by researching which items are in high demand and selling them at a better price than other brands. If your offers are the same as those trending in the market, then your customers will remain loyal. Once you’ve established a relationship of trust with your clients, they’d still prefer to buy from you even if your prices are slightly higher.
Sneaker Proxies
A massive industry that’s taking off is the sneaker market. Thousands of people use sneaker proxies to track original and reselling prices. However, before we dive into what reselling sneakers means, we’ll first look at what you use to secure the process.
What’s a Proxy Server?
Proxies are intermediary servers that complete the request to access a website on your behalf. That means your device and IP address never connect directly with the website you’re accessing. This feature makes it better than VPNs and ensures websites don’t block you as a suspicious connection.
Proxies also ensure you can access geo-restricted content and see product prices in other markets. Depending on the market, the price of sneakers can drastically change. That means you might find a less expensive option than with your market.
Sneaker proxies focus on finding the best sneaker prices, and a Google Shopping API works ideally as a sneaker proxy.
Reselling Sneakers
Using this tool, keep an eye on the sneaker market to purchase that perfect pair at the best price. Sometimes, you simply want awesome sneakers, but many use this as a business model. Many brands design sneakers and release time-limited versions. These designs might only have a limited number made, creating exclusive markets where you can earn thousands.
Using a sneaker proxy, you keep an eye on the prices and purchase high-value or limited-edition sneakers at the lowest possible price. A few weeks or months after, when the sneakers aren’t available anymore, you can resell the pair at a higher price due to their commodity.
This process is a valid business operation thousands use, and you’re able to earn big bucks. Another benefit is if you find that perfect pair you don’t want to resell, you already have everything set up to buy it at the lowest price for yourself.
Always Know Your Market
Web scraping for price tracking ensures you remain updated with the current market and better understand which items are popular. You can structure your own pricing system successfully or find the best bargains online. Ensure you use a premium proxy and API tool to complete the process and remain relevant in the market.