Being one step further from your competition requires you to always be on your toes, by knowing what they are up to now and next. When you know your competitors’ potentials, weaknesses, and actions, you can better forecast how they’ll invest and what will be their next steps. By keeping this precious intelligence in your pocket, positioning your business towards competition will be much more effectual and help you to gain a seamless competitive advantage. That’s why we are keeping to create competitor focused articles addressing different areas of ecommerce. Now, we thought it is time to expand our insights by defining how to outsmart the competition by adopting competitive competitor inventory tracking.
Benefit from your competition by using knowledge of their steps to stay one step ahead. Maybe now, you are asking yourself how to do it and gather the competitors’ inventory information. You’re lucky as you landed on this blog. In this article, you will find out how easy it can be managing your competitors’ competitive inventory tracking in real time and what kind of decisions that you can take to steal from your competitors.
Let’s get started!
1- Detect stock-out products of competitors and improve your margins.
Competitor inventory tracking is undoubtedly straightforward through pricing software. You can track your competitors’ inventory as out of stock or in stock. You can see a quick preview of inventory information from competitors through Prisync.
Let me explain the dashboard quickly. You can see three different e-commerce retailers selling these lovely egg cups. Under the stock column, there are three small boxes. The one which is not filled means this product is out-of-stock and there is no product remaining from that retailer which is addressing houseoffraser.co.uk. You can continuously filter the products by selecting “Out-of-stock” option and see instantly which retailers are out-of-stock and get the real-time data from the…
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