In today’s fiercely competitive online market, price is often the deciding factor between winning or losing a customer to your competitors. Shoppers compare, explore alternatives, and ultimately choose the option that offers the best value for money.
For eCommerce managers and retailers, the challenge is clear: how can you stay competitively priced without sacrificing your margins or spending endless hours tracking competitors manually?
1. You struggle to keep up with your competitors
In eCommerce, it’s not just prices that change the competitors do too. Every day, new players appear on Google Shopping, marketplaces or niche online stores selling the same products as you.
To make things even more complex, competitor prices fluctuate constantly. Flash sales, seasonal discounts and automatic repricing make it impossible to keep track manually.
Without a price monitoring tool, it’s not only tedious, you’re always one step behind. You spot new competitors only after they’ve taken sales away from you, or notice a price drop once your margins have already suffered. With specialised software, you can map your market in real time, identify every rival, and anticipate their next move.
2. You’re unsure whether your pricing strategy is working
Many online stores assume that lower prices automatically make them more competitive. The truth is, this mindset often leads to costly mistakes, such as:
- • Reducing prices without understanding the impact on profit margins.
- • Ignoring your competitors’ pricing history.
- • Missing opportunities to position your brand as a premium alternative.
If you don’t know when your pricing strategy is helping or hurting your profitability, that’s a red flag. Monitoring tools reveal pricing patterns, allow you to compare periods and make smarter, data-driven decisions instead of relying on guesswork.
3. You’re losing margin without realising it
In eCommerce, selling more doesn’t always mean earning more. If you’re constantly reacting to competitor moves or running uncontrolled discounts, you might be eroding your margin without even noticing.
Price tracking tools help you identify when you’re competing fairly and when you’ve slipped into an unnecessary price war. This allows you to protect your profits while staying competitive.
4. You rely too heavily on manual processes and spreadsheets
Excel can be a great starting point, but it’s far from scalable. Checking product listings, copying competitor prices, and updating columns takes up valuable time that could be spent optimising campaigns or refining your pricing strategy.
A specialised solution like Boardfy automates this process, showing you up-to-date market prices so you can make confident decisions in seconds.
5. Your competitors react faster than you
Imagine a rival launches a flash promotion on a marketplace. If it takes your store days to spot it, those lost sales are gone for good.
Response time is one of the most critical success factors in eCommerce. With tools that monitor your competitors’ prices, you can set up alerts and dynamic rules to automatically adjust your catalogue based on market changes and context.
How a Price Monitoring Tool Can Help
Price monitoring solutions don’t just simplify tracking, they also deliver powerful advantages such as:
- • Full market visibility: see who’s selling your products and at what price.
- • Dynamic repricing: react instantly to changes in competitor prices.
- • Margin protection: apply custom rules and thresholds to maintain profitability.
- • Time savings: eliminate repetitive, manual tasks that don’t scale.
Boardfy helps you overcome these challenges by supporting your pricing strategy, giving you a clear view of the market and enabling you to adjust your prices in real time — safely and effectively.
