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Top 3 Price Monitoring Challenges

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Today, the world is highly commoditized and new products are being launched each day. Every business wants to get noticed not only for their products but also for their pricing. Besides, more and more customers have increased price awareness.

Hence, if you want to experience consistent growth in the e-commerce market, you need to focus on the continuous adaptation of your prices. This means that you need to keep an eye on your competitors so you can make the right pricing decisions.

Price monitoring is basically studying the competition to know which pricing decision to make that will make you stand out. Nevertheless, price monitoring has its downfalls.

Why is Price Monitoring Important?

Having a price monitoring strategy in place can give you a competitive advantage and help you meet your business goals. It can help you know competitors that are similarly positioned and those that are differently positioned in terms of pricing. Strategic price monitors are also helpful for identifying your most important competitors and give you insight into their competitive behavior in the marketplace.

Effectual price monitoring in the e-commerce space can be done using tools like web crawlers and web scrapers. When employed correctly, these tools can help you acquire accurate and relevant pricing information so you can set prices for your products that will make you stand out.

Challenges of Price Monitoring

Most of the challenges with price monitoring are posed by accessing and matching data. Some of these challenges include:

1. Scalability

One way that a business can get competitive is by observing the marketplace prices. Price monitoring is a powerful tool that needs to take place hourly, weekly, or on a monthly basis. Frequent price monitoring will give you fresh and relevant data so you can gain maximum advantage.

However, the world of e-commerce is highly dynamic and is subjected to change in different seasons. For instance, the pricing during sale peak may not be the same during off-peak. Most businesses constantly change their pricing in a bid to stay competitive and be updated with the changes.

Therefore, it can be a challenge to acquire accurate pricing information. This is especially true you’re your company needs updated information in order to make informed decisions.

Nevertheless, the scalability issue can be solved by building a customized solution that can help you build exactly what you need. To ensure this, work with a proxy that lets you adjust the scale of scraping by describing the data, the matching algorithms for the product, and the frequency.

By building customized solutions that are highly accurate and flexible, you will be able to collect relevant pricing information to meet your needs.

2. Differences in Website Layouts

Usually, some e-commerce companies have website layouts that differ from one page to another. This makes it difficult to effectively employ price monitoring strategies. Also, some competitors store their pricing information in different product pages or some of their products can go out of stock. 

This can lead to missing or inaccurate data when collecting data. If dropping such competitors is not an option, then you need to find a solution that will help you gather accurate data irrespective of the website layouts. You may also encounter issues during the matching of crawled data because the prices may vary for different products.

In such cases, you may need to develop parsers for each page that you want to retrieve data from. Nonetheless, this solution may not be very effective if the websites that you are targeting keep changing their layouts.

Thus, it is crucial to use a real-time crawler that includes an e-commerce parser. A good web crawler will gather pricing information on different pages using parsers that don’t require frequent maintenance on your part. Additionally, there are proxies that can help you collect the pricing data notwithstanding the website design.

3. Geo-Location

The acquisition of data from websites in different geographical locations is another challenge. If your competitor is from a different location, accessing pricing and product information from their websites may be as easy as acquiring information from a company in the same location.

Besides, some websites have restrictions that make it difficult to access their information if you are out of a certain geographical location. This is where proxies come in handy. Proxies can bypass geographical blocks and give you access to websites all over the globe regardless of your IP address.

Conclusion

Over the years, the world of e-commerce has experienced a great transformation from manual competitor monitoring to automated price monitoring. Technology like crawlers has made it possible to get reliable data from websites throughout the world.

However, as we have seen above, there are challenges associated with the automated process. To overcome these challenges, you need to invest in the right proxy. The best UK proxy will let you perform web scraping and web crawling to effectively monitor and track prices. Follow the link here to get more information about the UK proxy.

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E-Commerce

Top 5 Tools to Integrate to Your Magento 2 Web Store

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Tools to Integrate to Your Magento 2 Web Store

It takes much effort to start an online web store, but it takes even more effort to succeed. Unfortunately, over 70% of startup companies fail approximately ten years after their launch. And even if they are successful, there is always room for improvement. Alongside other mistakes, lack of necessary tools is one of the reasons for failure. The availability of a website is huge progress, but your business should have relevant tools to achieve better results. For example, how can you store and use customer data without a CRM system or manage the inventory without ERP? Here are five must-have solutions that should be integrated with your Magento 2 web store with the help of a Magento development company.

1. CRM Systems

The role of CRM solutions for eCommerce businesses shouldn’t be underestimated. They store lots of customer data – contact information, purchase history, products of interest, and interaction history. This information can be used by the marketing and sales teams of the company. They can plan targeted promotional campaigns, send marketing emails, and provide exceptional support.

2. ERP Systems

The second must-have tool is ERP software. Companies have different departments such as production, accounting, and human resources. Each of them uses its particular system because of which duplications often happen. ERP software eliminates these duplicates and the likelihood of mistakes by connecting all these systems used by different teams. As a result, businesses can monitor customer databases, stock, orders, and accounts payable in one place. It boosts productivity, eliminates mistakes, and automates the work.

However, it should be mentioned that ERP – Magento 2 integration  isn’t an easy task. Make sure to contact a  Magento development agency to connect your website to the system smoothly. 

3. Inventory Management for Magento 2

Running an eCommerce web store is meaningless without the possibility of managing your inventory. It would help if you had a tool that handles order delivery, shipping methods, and returns. If you have warehouses in different locations, the system allows choosing the ones nearest to the delivery point. As a result, your business saves delivery costs and time. Moreover, the Magento 2 – inventory management tool integration can provide you with reports on best-selling products and most shipped destinations. It would help if you used this insight to improve your marketing campaigns.

4. Online Visibility Management Platform

You cannot ignore the need to optimize the Magento 2 web store for search engines on the Internet. All your financial investments and effort will go in vain if your website doesn’t appear in top results when someone searches for an item on Google. The optimization is an ongoing process. Online visibility management and analytical tools such as Google Analytics or SEMrush help businesses monitor the website performance. You can conduct a website audit, reveal its weaknesses and eliminate them. This way, your eCommerce website will stay on top of search results.

5. BI Tools

Customer data is a valuable resource that businesses possess. However, it’s useless if you don’t know how to utilize it. BI tools allow creating dashboards and reports to visualize the data. For example, if you provide coupons for the first purchase, you’ll see how many people claimed it and how many used it. In addition, you’ll be able to track which month or season is the most profitable one. Then, you can leverage these valuable insights and make data-driven decisions. 

Final Thoughts

The mentioned tools are must-haves for running a successful Magento 2 webs store. The technology market offers different CRM and ERP solutions, BI tools, and inventory management systems. So, regardless of your business’s peculiarities, you can find a tool that suits you best.

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Is it Promising to Study E-Commerce For Students of the UK?

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E-commerce, is selling or buying services or goods via the internet. And the transfer of data and money that happens during buying or selling is also known as internet commerce or electronic commerce. In recent years, e-commerce has become very popular, almost 96% of the population in the UK uses the internet, and 86% of those people are expected to make at least one purchase through the internet in a year. Making e-commerce careers extremely attractive to young university students. 

Everyone can benefit from a career in eCommerce. Starting from independent freelancers, small businesses, and even large corporations. You surely have heard someone say, “you need to check this online clothing store” or “this essay writing service is a must” basically, eCommerce has endless opportunities. You can find many retail stores that sell directly to clients or wholesales that sell to retailers, subscription services, or digital products, and even the best essay writing services and online courses are purchased and paid online. 

The development of the eCommerce market is amazing, and the United Kingdom has the largest e-commerce market in Europe, with total projected revenue of 200 million euros. Although the eCommerce market also plays an important part in the broader economy of the United Kingdom. Almost 8% of the GDP is attributable to eCommerce, and that number is expected to rise, as more and more retailers shift towards online retail stores. Also, selling services or products online has a lower cost than the traditional methods have. Basically, e-commerce reduces the variable and fixed cost, and people are able to get their services and products for a lower price. These are some of the many reasons why teachers implement lessons of e-commerce in education. 

There are five e-commerce perspectives, B2B, B2C, C2C, C2B, and D2C. 

  • B2B or Business to Business refers to one business selling services or products to another business, like a wholesaler and a retailer or manufacturer and wholesaler. This kind of e-commerce usually involves software, raw materials, or combined products. 
  • B2C or Business to Consumer is the most popular model of e-commerce. This means that the sale is taking place between a consumer and a business, like when you buy a dress from an online store. 
  • C2C or Consumer to Consumer happens when a service or product is sold from a consumer to another consumer, this kind of sale takes place on platforms such as Fiver, AliExpress, eBay, etc.
  • C2B or Consumer to Business happens when an individual sells their product or services to a business. This encompasses photographers, freelance writers, consultants, etc. 
  • D2C or Direct to a consumer is the newest model of e-commerce. This refers to a brand that is directly selling to customers without going through retailers, wholesalers, or distributors. The most popular D2C items are the sold subscriptions via platforms such as Facebook, Instagram, Snapchat, Pinterest, etc. 

And all of them bring many benefits. Some of the biggest ones are the simple and faster consumption that allows a quick delivery, easy returns, and 24-hour sales. The companies are no longer restricted by physical or geographical barriers, and consumers from all around the world can shop on any e-commerce site. It offers a personalized experience to the customers, and most importantly, it requires minimal expenses to launch such a store. 

However, to be able to succeed, e-commerce jobs require skills such as software development, SEO, Data analytics, Writing skills, Design, Artificial intelligence, etc. 

Conclusion

With that said, it is promising to study e-commerce because it opens many career doors. To start with e-commerce, you can work as a Marketing specialist, SEO content writer, Administrative assistant, etc., and once you get the needed experience, you can work as a User experience designer, Community builder, Developer, Business analyst, etc. basically the options are endless because e-commerce powers the future of many businesses.

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Best Selling Online Sites to Start Your Ecommerce Business

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Best Selling Online Sites

Do you want to build a small business? Start by making an existence as a business on selling online sites! It is true that selling online sites are challenging when you first start working on them. When done right, there will be a lot of profitability aspects for your small business! The crucial thing about having an online business is you will have to do all the marketing of your business by yourself.

However, this is not that difficult anymore as you can hire an expert search engine optimizer and boost the traffic of your website. The good news about having a small business on an online selling site is that you will not have to pay any transaction fee to a third party. All the profits that you make from your online business will be yours without any additional expenditures and expenses.

There are many platforms available where you can start your selling site and give a boost to your e-commerce business. The world of online selling and business has been completely changed after the introduction of e-commerce. Are you a small vendor? You can succeed in the online marketplace when you deal with all the challenges smartly!

Let’s have a look at the well-known e-commerce platforms below!

Create Your Store with E-commerce Ready Platforms

Gone are the days when people used to sell their products in garage sales and market them manually on social media. Now the era of technology is thriving, and people are creating their own online market selling places by using the sites that are available for this purpose online. Are you are a small business vendor who is looking forward to expanding their business through the internet? Do this by following the simple guidelines of online selling platforms for small businesses.

There are many sites like this available for small vendors so that they can succeed in the online marketplace and sell their products quickly. It is true that there are many challenges for a small business online selling site when it comes to the marketing aspects.  When you follow the right tips and tricks, you will be able to face all the challenges.

A small business online is going to be very profitable for you as a vendor. You will not have to pay any additional expenditure for third parties. No matter which products you want to sell online, there is a sales platform available according to your requirements.

Let’s have a look at some of the best platforms for creating an online selling site:

1. Selling Online with Shopify

Shopify is a Canadian based e-commerce platform for small business vendors. You can easily use their Shopping Cart solution to sell and ship your products to your customers. The admin panel of Shopify is user friendly and processes the orders quickly.

2. 10 Alternatives to Sell Online with Shopify

 1. BigCommerce

 2. 3dcart

 3. Volusion

 4. Square Online Store

 5. PrestaShop

 6. Magento

 7. WooCommerce

 8. Weebly

 9. Wix

10. Squarespace

General Online Marketplaces to Sell Anything

1. Amazon

Amazon is the biggest marketplace if you want to open an online store of any product. Are you are an eBay user? Amazon will be more comfortable for you to understand, whereas it is a vast marketplace. Buyers from around the world trust and rely heavily on Amazon for providing good quality services and products.

2. Bonanza

Bonanza is a viable option when you are looking forward to expanding your e-commerce business further. Currently, more than 40000 sellers are conducting their e-commerce business operations on this website.

3. Craiglist

No matter what kind of product you want to sell online, you can always make an account on Craiglist. The best part about this telling website is that it does not charge any selling fee. It is a forum based selling site, and you are on your own.

4. eBid

eBid is the right platform for you, no matter what you want to sell online. You can sell almost anything on this platform but keep in mind that you will be selling to a smaller number of buyers when choosing this platform for your online business.

5. eCrater

It is a free online marketplace for new small businesses, no matter what you want to sell online. There are no fees and expenditures, and you can quickly start your small business here.

Online Selling Sites for Handmade Items

1. Etsy

Etsy is an arts and craft selling platform for sellers looking forward to selling their vintage products online. Do you specialize in handmade goods? The perfect online selling site for you will be Etsy. You will have more excellent prospects of profitability when you choose this site as compared to Amazon.

2. Artpal

With Artpal, you get a platform to sell all kinds of arts and traditional paintings. Do you wish to sell art-related goods? You can easily do that by using this platform. It is free for the sellers, and there is no commission cost. It provides a user-friendly interface to both the sellers and buyers; that is why it is an excellent choice for selling art.

 Many buyers recommend this platform for purchasing art because there is a feature of print-on-demand service.

 3. Artfire

Artfire is a platform on which you can sell art-related goods online. Many people prefer this platform for selling art as compared to the other traditional media because of the features it is providing to the sellers. With other platforms, you need to relist always, and it is very time-consuming. You will have to pay a fixed price per month.

Websites to Sell Products Locally

1. Facebook Marketplace

Facebook provides a marketplace for the sellers and buyers who want to sell and purchase the product locally. You can find the buyers and sellers in your local area easily by using the Facebook Marketplace.

2. Craiglist

Craiglist is a selling platform in which you can sell your products and display them on a forum. No matter what kind of product you want to sell, you can easily use this platform, and it does not have any selling fee.

3. Nextdoor

Nextdoor is a trusted marketplace to sell goods locally and display them online. The best thing about this marketplace is that it is safe to use, and it is encrypted using internet protocols.

Selling Online Platforms for Used Clothing

Used clothing is in demand, and you can sell yours now! Many people from around the world sell their pre-loved clothes online or youtube merch. There are many platforms for selling used goods online. Let us have a look at some of the best ones down below:

1. ASOS (UK)

2. BagBorrowOrSteal 

3. Fashionphile 

4. Just Between Friends 

5. Recycle Your Fashions 

6. The RealReal 

7. LePrix

8. ThredUp 

9. Tradesy 

10. Yoogi’s Closet 

Selling Online Marketplaces for Used Jewellery, Wedding Dresses and Accessories

You can now sell your used jewellery, wedding dresses, and other goods online. There are amazing marketplaces for this purpose available on the internet. Let us have a look at some of the best ones down below:

1. NearlyNewlyWed

2. OnceWed

3. PreOwnedWeddingDresses.com

4. Sell My Wedding Dress 

5. StillWhite.com

Vintage, Collectible and Antique Items

Vintage shops are very popular on the internet, and people are always looking forward to selling vintage stuff online. Sell vintage goods on the following best vintage sites online:

1. RubyLane

2. The Internet Antique Shop

Places for Used Electronics, DVDs, CDs, and Games

Are you one of those people who are interested in selling their used DVDs, CDs, and other related items online? Because, why not? Have a look at some of the best sites for this purpose down below:

1. Decluttr  

2. SellDVDsOnline 

3. BuyBackTronics

4. Exchangemyphone

5. Gazelle

6. Glyde

7. NextWorth

8. SellCell

9. Swappa

10. uSell

11. YouRenew

Selling Your Photos/Photography Here

Are you a photographer? There is nothing better than selling your photography! As an artist, it is always nice to sell your stuff online and get some appreciation for what you do! So, let us have a look at some of the best websites for this down below:

1. 123RF

2. BigStockPhoto

3. CanStockPhoto

4. Corbis

5. DepositPhotos

6. Dreamstime

7. Adobe Stock

8. FreeDigitalPhotos.net

9. iStockPhoto

10. ShutterStock

Online Platforms for Selling Used Books

Books are our best friends and it never hurt to get some nice books. It is a worthwhile investment because books are the best companions. That is why everyone is looking forward to purchasing books online! Are you wondering where you can sell books online? Check out the list of online platforms for selling used books below!

1. BookFinder 

2. BookScouter 

3. Cash4Books 

4. Powell’s

5. Sell Back Your Book 

Creating Your Own site or Selling on Ready Marketplaces?

Online selling marketplace sites are top-rated among the people looking forward to selling their goods online. In case you are one of those people, you should go for it! Many people prefer online marketplaces because it is:

  • More profitable 
  • Makes the process of online selling easier

Disadvantage:

The disadvantage of an online selling marketplace is that sellers have to pay a fee to the marketplace owners.

Selling Site:

Selling sites are more challenging for the sellers to manage in the longer runs. The sellers have to work all the operation of the site by themselves.

People prefer it because:

  • All the profit is of the seller without any deductible fees.

Disadvantage:

Sellers have to spend more time in managing the operations of the site.

Final Words

Do you wish to start your e-commerce business? There are numerous viable options available for you to get started! In this article, we have mentioned the top-selling sites online. Pick the one that fits your requirements and get ready to start your e-commerce journey!

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