Competitor Price Scraping: How to Track & Analyze Market Prices

Pricing plays an important role in market positioning. If competitors offer similar products at lower prices, customers are more likely to choose them. On the other hand, pricing too low can hurt profitability. This is where competitive pricing analysis becomes essential. It enables businesses to make data-driven pricing decisions that balance competitiveness and profitability.

While it is impossible to control competitor pricing, tracking market prices provides valuable insights that help businesses stay ahead. By monitoring competitor pricing trends, companies can adjust their own pricing strategies, identify shifts in the market, and optimize revenue potential.

Here is how tracking competitor prices can benefit your business:

• Stay competitive by adjusting prices strategically to attract customers without sacrificing margins.

• Identify market trends by gaining insights into price fluctuations and industry shifts.

• Optimize revenue by improving pricing strategies to maximize profitability.

What is Competitive Pricing?

Competitive pricing is the practice of adjusting your product’s price based on competitor pricing. It is not just about offering the lowest price but about finding the optimal balance between profitability and market demand.

The Impact of Competitor Pricing on Your Business

• Market Positioning: The right price can position your brand as premium or budget-friendly.

• Sales & Revenue: Being overpriced can drive customers to competitors, while underpricing can eat into your margins.

• Customer Perception: Consumers compare prices across platforms as your pricing affects their purchasing decisions.

Competitive Pricing vs. Other Strategies

Competitive pricing differs from cost-plus and value-based pricing. Cost-plus pricing focuses on production costs with a markup, while value-based pricing sets prices according to perceived customer value. Competitive pricing relies on market data, making it dynamic and responsive to competitors' strategies.

What is Competitive Pricing Analysis?

Competitive pricing analysis involves systematically collecting and analyzing competitor prices to identify market trends and adjust pricing strategies accordingly.

Price monitoring allows businesses to react to market shifts, optimize pricing models, and stay ahead of competitors. For example, an e-commerce retailer can adjust its prices dynamically based on competitors' price movements to capture more sales.

5 Steps to Conduct a Successful Competitive Pricing Analysis

Step 1: Identify & Categorize Your Competitors

Not all competitors are created equal. Some brands compete directly with your products, while others target a slightly different audience. Segmenting your competitors helps you focus on the most relevant pricing data.

Types of Competitors:

• Direct Competitors: Sell the same product (e.g., another brand selling identical wireless earbuds).

• Indirect Competitors: Sell similar products but with slight variations (e.g., budget vs. premium versions).

• Marketplace Sellers: Compete on the same listing but may offer different pricing, shipping, or bundle deals.

Step 2: Gather and Analyze Pricing Data

Key Data to Collect

Businesses should track price points, stock availability, discount strategies, and historical price changes. Collecting structured pricing data enables better analysis and decision-making.

Data Collection Methods

Manual price tracking involves visiting competitor websites and recording price changes. Automated methods, such as APIs and web scraping tools, offer scalable solutions.

Scraping Competitor Prices Using Unwrangle's Ecommerce APIs

Using Unwrangle's Amazon Product API, businesses can gather real-time competitor pricing data. Below is a Python script to scrape Amazon prices for multiple ASINs:

Step 3: Analyze Competitor Pricing Data

Businesses should analyze price fluctuations, discount strategies, and seasonal trends. Are competitors running frequent sales? Are they offering bundled pricing?

Analyzing competitor pricing helps in positioning a business's offerings effectively. If competitors are continuously undercutting prices, businesses may need to focus on differentiation strategies.

Code for Price Comparison and Insights

Here’s how to compare the scraped prices and generate insights:

Results:

Price Analysis:  
Average Price: $192.84

Cheapest Product: SAMSUNG UN32N5300AFXZA 32 inch 1080p Smart LED TV Black Bundle with 1 YR CPS Enhanced Protection Pack (Save with Used \- Very Good) at $153.49

Most Expensive Product: SAMSUNG 32-inch Class LED Smart FHD TV 1080P (UN32N5300AFXZA, 2018 Model), Black at $227.99

Price Difference Between Cheapest and Most Expensive: $74.50

Sorted Prices:

SAMSUNG UN32N5300AFXZA 32 inch 1080p Smart LED TV Black Bundle with 1 YR CPS Enhanced Protection Pack (Save with Used \- Very Good): $153.49  	 

SAMSUNG 32-inch Class LED Smart FHD TV 1080P (UN32N5300AFXZA, 2018 Model), Black (Save with Used \- Like New): $170.99

SAMSUNG UN32N5300AFXZA 32 inch 1080p Smart LED TV Black Bundle with 1 YR CPS Enhanced Protection Pack: $218.89

SAMSUNG 32-inch Class LED Smart FHD TV 1080P (UN32N5300AFXZA, 2018 Model), Black: $227.99

Step 4: Define Your Pricing Process Based on Data

Once data is collected and analyzed, businesses must decide whether to:

• Price lower than competitors to attract price-sensitive customers.

• Match competitor prices to stay competitive.

• Price higher if offering superior value (brand reputation, premium features, better customer service).

Markets evolve, and so do competitors’ pricing strategies. Automated tracking ensures businesses can react promptly to price changes and promotions.

Get Real-Time Competitor Pricing with Unwrangle API

Tired of manually tracking competitor prices? Automate the process with the Unwrangle's Ecommerce APIs. Our simple ecommerce scraping solution provides:

• Real-time data from major e-commerce platforms.

• Comprehensive product data including images, availability, and reviews.

• Easy integration with easy-to-use JSON responses.