Purchase price introduced
As we know Price2Spy helps you monitor competitor prices and price changes. There is a number of reports helping you see how you position among the competition and analyze competitor pricing strategies.
One of the most widely used reports is the Price Matrix Report. It is practically a matrix listing ALL products monitored on all sites and it displays additional product properties (Brand, SKU, MAP (if used), etc…)
Purchase price has recently been introduced in Price2Spy and it is also displayed in the Price Matrix Report to complete the picture you are getting and help you in the decision making process. Namely, it is there to enable you to know instantly the lowest limit you can go when decreasing prices.
Take the image below as an example. Can the site with the highest price – Site 5 in Column F go lower with the price for product Boss AB2 A/B Schakelaar. Judging by the data presented, the answer is yes – Site 5 can decrease the price without going under the purchase price.
This would be an explanation of what Purchase price in Price2Spy is and how it works. In order to be used, purchase price first needs to be added as additional product detail.
- for new products it is done in the following way:
- Add product
- click More product fields
- and fill in the Purchase price
- for already existing products
- enter the product by clicking the product name
- click a small pencil for editing products
- add the Purchase price
We are planning to develop a number of new reports which will be based on the purchase price. The new reports will only include the products with the purchase price added – so fill it in in order to be able to use the new reports ASAP!
One more ting – API users will also be able to define / edit the product purchase price which will be quite useful in case the price constantly varies.
Good luck using the new feature :)!
