What is price monitoring software and how it can be used in the Music industry?

 

[editor’s note – this sponsored post is provided by price2spy.com]

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Price monitoring software has become an irreplaceable tool in almost all industries. The main reason for the popularity of these tools is the huge increase in competition that is noticeable in all industry branches. When Price2Spy began its journey nine years ago, there were only two other price monitoring tools available on the market and the needs for monitoring eCommerce stores were nowhere near as high as they are now. This trend didn’t bypass the Music Industry either – it turned out to be a very dynamic retail landscape where price changes happen very often. Over time, the number of Price2Spy clients who are coming from the Music industry has grown greatly. Today, they make up 35% of our client database.

Our clients are online retailers and manufacturers/brands, and we address their needs by offering them suitable solutions.

Retailers 

Price dispersion in the music industry is notable due to the wide range of products – from small, cheap items to very expensive instruments. Therefore, price changes happen very often and the only way to keep up with the market changes is by reacting to those changes in real-time. This is where Price2Spy’s Repricing Module comes to the surface. The Repricing module helps you define your own pricing strategies, identifying which products can go up or down in price, and get these prices changed in your online store.

Another feature that turned out to be very useful for our clients is Competitor product extraction. Price2Spy’s team is able to go through the extraction process, enabling our clients to have an overview of the competitor’s assortment and all the other available product data – pricing, description, color, brand, etc. All that you need to do is to provide us with the list of competitor’s sites where you want to perform the data extraction.

Manufacturers / Brands 

One of the most common problems that manufacturers/brands are faced with is the fact that retail sites are finding more and more innovative ways of avoiding MAP rules. Retailers tend to lower the prices during the weekend, and then to take them back on Monday hoping that it will go unnoticed. That is why one of the most requested features among these clients is MAP (Minimal Advertised Price). With it, they receive an alert whenever a retailer or dealer tries to violate the agreed price.

Another problem that we can solve is the sites that try to prevent tools like Price2Spy to access their prices. We have mastered a number of techniques to avoid such bans – one of them being Stealth IP traffic.

Wrapping it up

As the music industry turned out to be one of the most fast-paced ones, the competition growth isn’t surprising. Therefore, you always need to listen to your customer’s needs. This is exactly the pattern that Price2Spy has proven to be victorious, and therefore there is no reason to deviate from that path.

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