How to set prices automatically on e commerce by using a Price Intelligence API

One of the main problems that e commerce managers have to face is to keep their catalogues competitive in terms of price. The great diversity of online offers, make the price one of the most relevant issues on the clients´ buying decision process. E commerces know this need, but often are limited by their resources regarding pricing.

Managing catalogues with thousands of references without an specialized software is an impossible task. Prices change every day and we can find many different companies selling the same product. For this reason the main e commerce in the world use APIs in order to manage their pricing effectively. A Price Intelligence API, must provide the following information:

• What´s my cost price?
• What´s each competitor´s selling price for a certain product?
• Have my competitors stock of that product?
• What´s my price range for each product?

With the above information, an  e commerce can set certain rules in order to automate the price setting, such as always setting the price 1% cheaper than the cheapest competitor or increasing my prices 2% when my direct competitors are running out of stock.

Minderest offers a very powerful price monitoring API with which you can boost your sales, saving thousands of hours in price monitoring. If you are interested in receiving more information, you can request a demo in the following link.