Developer Update November 2023 PriceMole

Nov 06, 2023 by PriceMole Dev Team
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PriceMole: An easy-to-use dynamic pricing solution that automates competitor price tracking with repricing strategies!

Price Tracking, also known as demand pricing and time-based pricing is a type of price strategy where retailers use flexible prices for products and services based on current market demands.

Here are some of the exciting achievements from our team efforts over the last few months:

We are dedicated to continually enhancing your PriceMole experience. Our team regularly introduces new features to PriceMole, ensuring a better user experience and resolving any issues that arise.

Game-Changing New Features

GEO TARGETED AUTOMATCHING

Choose your preferred Competitor Region right from the start, to get matched with potential competitors in your region. Previously results were locked to the US only, but now you can start Automatching all around the world.

Australian Partner Example:

DOMAIN TARGETED AUTOMATCHING

Add your preferred competitors during setup. PriceMole will automatically try to find matching products on these preferred domains and list alternative results where they may not be found. These results contain a rank where PriceMole tries to order the most accurate results to the top of the list, allowing you to more easily add correct matches and find new competitors on the market.

US Game Shop Automatch Results:

AUTOMATED URL ADDING *BETA

Have PriceMole automatically add your preferred competitor matched URLs to the system, so you do not need to manually add each URL from the results individually. Opting in to the Beta allows PriceMole to search for results matching your preferred domains and add them to each product right away.

This feature is currently in BETA as we continue to learn and improve the accuracy in identifying matching results. PriceMole will only add automatch results to products that do not have an active strategy for repricing - to eliminate any risk of matching or repricing against incorrect results. Results vary but are currently most accurate for products with universal SKUs or bar codes, and products that do not have variants that need to be clicked or selected on the page. Matching will begin within 24 hours of opting in to give it a try and will target your Best Sellers (Reach out if you prefer to test other products instead). If its not what you want let us know as we can further customize a search instance for your store specifically or opt out any time! Included in all PriceMole Plans with no extra fees.

Give it a try today and share your feedback soon so we can continue to develop the most accurate and automated price tracking available!

NZ Pharmacy Example with PriceMole Auto-Added Results:

Give the new setup a try today when you install the app on Shopify with a 14-day free trial!

REMATCHING

You tried automatching and the results aren't what you were hoping for. Now you made changes to your preferences to try to get more accurate automatch results? No problem! Simply rematch, my hitting the find competitors button again - this will generate all new results with your new preferences set.

CUSTOM ALERTS

Get alerted to any change you consider relevant and important.

  • Is my competitors price lower than my cost? Alert me!
  • Is my competitors price higher than mine by 25%? Alert me!
  • Is my competitors price within $10 of mine? Alert me!
  • Is my competitor price below mine and infringes MAP? Alert me!

Beyond insights, alerts can help find opportunities to raise or lower pricing, report or identify MAP violaters, alert me to competitor false pricing changes and more! Alerts can be found in the app and will send email updates to all your devices. Send us your suggestions for other alert scenarios to build to further enhance this feature!

Features COMING SOON

Advanced Automatch and Auto-add settings

  • a. Automatch using Universal Codes: PriceMole will acess Universal Codes like Barcodes, UPCs, GTINs, ASINs etc, that have been added to your Shopify Dashboard to retrieve more accurate competitor match results.
  • b. Exclude Domains from Automatch: Looking to exclude certain domains from your automatch results, or even exclude your own domain. Add them to the exclude list and they will no longer appear in your Automatch Results.
  • c. Automatch AutoAdd Control: Choose which products to use Autoadd for, and create custom search instances on your own without any help from the PriceMole team to fine tune the results you are looking for.

Advanced Out Of Stock and Unavailable Strategy Settings

What happens to my price when all my competitors are Out Of stock or unavailable? This is a question we have been asked a lot and recognized a great opportunity to implement elastic pricing. New settings will allow you to set up a rule that raises or lowers the price based on the stock availability or send you alerts if you wish to allow you to decide what action to take. Providing the flexibility to automatically adjust prices when items go out of stock or revert to the original price. Bid farewell to manual price adjustments and welcome an automated, efficient way to manage product pricing.

PriceMole ensures you're never left in the dark about your competitors' moves. Get real-time alerts and comprehensive reports that keep you in the loop regarding any price changes you're monitoring. Our pricing strategies will streamline your response, ensuring your prices stay competitive.

Have questions, comments, or suggestions for future releases? Visit our Website, Shopify, BigCommerce, or follow us on Facebook, Twitter, and LinkedIn.