Tutorial

Competitor price monitoring: a practical guide

What to track, how often to check it, how to read the numbers, and when doing it by hand stops making sense.

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What competitor price monitoring is

Competitor price monitoring means checking what other sellers charge for the products you sell, on a schedule, and keeping the results. Done well it answers three questions every day: where your price sits against the market, who moved, and whether a competitor ran out of stock.

The output is not one number. It is a price per competitor per product, each with the time it was seen, plus the history of those prices so a change can be told apart from a routine weekend promotion.

Decide what to track

  • Products: start with the items that drive revenue or that shoppers compare most, not the whole catalog. Add the rest once the first set is useful.
  • Competitors: the retailers your customers actually compare you with. A long list of small sellers who list the same item adds noise, not insight.
  • Third-party sellers: on marketplaces, the same product can have many sellers at different prices. Decide whether you compete with the marketplace itself, its sellers, or both.
  • Availability: a competitor that is out of stock changes the decision as much as one that cut its price.
  • Condition: compare new with new. Used, refurbished and open-box prices belong in their own column.

Match the same product across stores

Most errors in price monitoring are matching errors: a pack of two compared with a single, last year’s model with this year’s, or a bundle with the bare product. Identifiers prevent most of them.

  • Use a barcode (UPC or EAN), an ASIN or the competitor’s product URL whenever you have one. Titles alone are the least reliable way to match.
  • Check pack size, color and storage variants before you trust a match; a different variant can carry a different barcode and price.
  • Keep the matched identifier with every price you record, so a wrong match can be found and fixed later.

UPC and barcode lookups → How barcodes are matched to products, including shared barcodes and check digits.

How often to check

Check as often as you can act. If prices are set once a week, a daily check is enough to see what changed; if you reprice during the day, or the category runs flash sales, you need several checks a day. Checking more often than you can respond only adds data.

ShopSavvy for Business planPrice (monthly)ProductsRefresh options
Starter$99.99Up to 50Daily, Weekly, Manual
Growth$249.99Up to 1504 hours, 12 hours, Daily, Weekly, Manual
Professional$499.99Up to 300Hourly, 4 hours, 12 hours, Daily, Weekly, Manual
EnterpriseQuoteMore than 300Custom

Every plan starts with a 14-day trial. Prices come from tens of thousands of retailers; each one shows when it was last seen.

Reading the numbers

  • Gap to the lowest price: (your price − lowest competitor price) ÷ lowest competitor price. Positive means you are above the cheapest.
  • Price index: your price ÷ the median competitor price × 100. Above 100 means you are priced above the middle of the market.
  • Rank: where your price falls among competitors, cheapest first. Useful when shoppers compare a short list.
  • Change since the last check, and against the product’s own history, so a one-day promotion is not mistaken for a new price.
  • Out-of-stock competitors, listed separately: they are not really competing today.

Competitor price gap calculator → Enter your price and your competitors’ to get the gap, index, rank, and the price that matches or beats the lowest.

Acting on what you see

  • Write the rule before the price moves: match the lowest, stay within a set percentage of it, or hold when the cheaper competitor is out of stock.
  • Set a floor from your own cost and margin, and never price below it automatically.
  • Treat minimum advertised price (MAP) agreements as a separate check: a competitor below MAP is a brand question, not a reason to follow them down.
  • Review the history before reacting to one low price; many drops are short promotions that end on their own.

By hand, a spreadsheet, or a tool

A spreadsheet and a few minutes a day work for a handful of products. The time grows with every product, competitor and check.

For example, 50 products × 5 competitors × 2 checks a week is about 2,167 checks a month. At 2 minutes a check that is about 72 hours, or about $2,167 a month at $30 an hour, against Starter at $99.99 a month. Your own numbers may come out the other way, and the calculator on the ShopSavvy for Business page says so when they do.

Competitor price tracking spreadsheet → A free Excel and Google Sheets template with formulas for the lowest price, your gap and rank.

ShopSavvy for Business → Import products by URL, ASIN, barcode or model number, choose refresh frequencies by plan, and get email or web push alerts when prices or stock change.

Building it into your own software

If the prices need to land in your own system rather than a dashboard, a product data API gives you the same offers by request: the current price at every retailer for a barcode, ASIN or URL, with the time each was seen, and the history behind it.

Product data API guide → What a product data API returns, how matching and freshness work, and what it costs.

Frequently asked questions

What is competitor price monitoring?

Checking what other sellers charge for the products you sell, on a schedule, and keeping each price with the time it was seen, so you know where your price sits, who changed theirs and who is out of stock.

How often should I check competitor prices?

As often as you can act on what you find. Weekly or daily is enough when you set prices weekly; categories with frequent promotions, or a business that reprices during the day, need several checks a day.

How much does ShopSavvy for Business cost?

Plans start at $99.99 a month for up to 50 products, and every plan has a 14-day trial. More than 300 products is an Enterprise quote.

Can I monitor marketplace sellers as well as retailers?

Yes. Decide first whether you compete with the marketplace’s own price, its third-party sellers or both, and keep them apart in your comparison, because one product can have many sellers at different prices.