Competitor Price Watch Blog

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Argos moving toward stronger digital presence

Following a business review, High Street staple Argos has announce the planned closure of at least 75 of it's stores and an intention to become a 'digital retail leader'.

This means that there is going to be even greater need to ensure your own place on the e-commerce radar as a well priced and competitive seller before Argos can establish their own market presence.

The best way to do this is to make sure that your prices are priced as competitively as possible when your potential customers are on your site.

And the best way to do that is to use Competitor Price Watch.  They will be able to monitor as many of your products as you like against as many of your competitors as you need (both large and small).  This will give you that edge that you need over everybody else in the market place.

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Slingshot makes shopping by mobile even easier

The 'M-commerce' company Slingshot has partnered with a number of big names in the online shopping arena, bringing the ability to purchase something with a quick scan of your smartphone.

When you're at the shops and see something that you'd like to buy an it has either a QR code or the Slingshot logo and it will be added to your online basket with your online retailer of choice.

Now, this is a very clever innovation.  The line between the online and high street market places is starting to become blurred.  As with the 'shopping wall' mentioned previously, the ability to shop online in the real world is becoming more prevalent and soon all online retailers are going to need to be involved in these multiple access points to their goods.

Of course, once you have all of these fancy whistles and bells in place and you have every 'door' open to your web shop, your customers need to have faith the their remotely placed, price unseen automated purchase isn't going to cost them more than it would have if they spent some time shopping around for the best price.

To avoid this happening, you need to be able to reassure them that you have done the research on their behalf, that you know that you are the most competitive that you can be and that you can prove this with a clever widget on your own site that shows this to be true.

By using Competitor Price Watch, you can manage all of these solutions with minimal effort and total confidence.

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Competition increases as the High Street goes online

In the past month, two UK high streets have been introduced into the online marketplace bringing even more competition to the world of Internet shopping.

At the beginning of the month 30 retailers from the city of Wells in Somerset have joined the MyHighStreet website and recently a Hereford company has introduced a range of grocery products from the retailers in the HR postcode.

With this extra competition being introduced online, starting a trend combining local shopping with convenience of shopping from home, the need to ensure your products are priced as competitively as possible becomes even more important.

Luckily, Competitor Price Watch can offer you just that ability.

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Royal Mail now delivers to your Neighbour

Over the last three months, the Royal Mail has been trialling a scheme where they will leave your online purchases to your neighbours if you are out when they try to deliver them.

This has always been one of the biggest difficulties with ordering online -The fact that it's not always possible to wait around at home for the whole day until your delivery arrives.  With this new scheme from the Royal Mail, you can now just pop next door to pick up your parcel rather than have to drive to the sorting office before work the next day, because they close before you can get there at lunchtime.

It is a definite bonus for the online retailer, meaning that one more obstacle has been removed from making web based shopping the only way to buy.

Of course, once the e-tail market has become the dominant way to make purchases, you are going to need to ensure that you have the best price possible when compared to the other sites selling the same thing.

The best way to do this is with Competitor Price Watch.  They will monitor your competitor's prices, including the shipping, let you know when they are out of stock and send you an e-mail whenever a price changes.

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Sales via Mobile Devices show dramatic increase

A recent report shows that shopping via mobile devices in the UK increased by 254% between March 2011 and March 2012.

Whilst it's true that the actual percentage is still only 1.4% of sales, this is showing a definite trend toward the online marketplace.  The thinking is that a lot of online retailers do not have a so called 'M Site' which has been optimised for browsing on the smaller screen of a smart phone.  With the rapid growth of the mobile shopper, this is something that might be of great benefit to the online retailer in the coming years.

Of course, there will always be people who only shop via their PC and they still account for a greater percentage share of online sales than their mobile counterparts, but the mobile revolution is gaining momentum and is something that needs to be considered if you are to keep pace with the changing trends in people's shopping habits.

However, once you have the customer looking at your site, whether it's on a smart phone, tablet, desktop of laptop screen, you're going to need to keep them there by offering the most competitive prices that you can;  And to be competitive, you'll need to know what price other people are selling at.

That's where Competitor Price Watch is an invaluable tool.

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Extended Sunday Trading Hours Not Popular With High Street Stores

Some good news from the ongoing battle between online retailers and their 'bricks and mortar' counterparts.

It would appear that the longer Sunday trading hours that the government approved during the Olympic summer would not be wanted on a permanent basis.

Sainsbury's, shop workers union UDSAW and clothing manufacturer Fat Face are all of the opinion that we should revert back to the reduced Sunday opening hours at the end of the trial period.

This would, of course, be great news for all online retailers as they would have the day back to themselves, allowing full access to the customer without the distraction of their having the possibility of going out to shop.

Of course, having access to the customer is only half the battle.  Once they are on your site, they need to know that you are the most competitive seller of what they are looking at.

This is where you need Competitor Price Watch to complete your victory over high street and online competitors alike.

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Delivering the best online service

According to a survey carried out by OnePoll on behalf of GPs tracking system supplier, Trimble, nearly two thirds of shoppers saying they buy more online now than they did five years ago and 88.9% agreeing they expect to be spending more or the same online between now and 2017.

Some of the main reasons for this trend are convenience, a desire to avoid crowded high streets and shopping centres and busy lifestyles.  Controversially, 7.6m UK adults would go as far as to say the UK high street is dead and over fifth of all respondents would like to do most of their shopping online.

This is all despite the fact that they are spending a total of £3.5bn per year – £136.00 for every household – on delivery charges for online shopping.  In fact one quarter of UK adults believe delivery costs are too high, but the report revealed consumers are still prepared to pay to get the items they want, when they want.

Whilst there are certainly complaints about the delivery service available (chiefly missing a delivery and the parcel being returned to a distant depot or post office, long delivery times and high delivery costs) this shows that getting your delivery costs as well as your actual product prices set competitively against the competition is growing ever more vital.

Fortunately, Competitor Price Watch is here to help you find out what your competitors are charging for both product and shipping.

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Mums are leading the online shopping revolution

According to a survey of 1,000 mums by online retailer Casabu, in association with Mumsnet, more than 80% of those polled are shopping online for themselves or their children at least once or twice a month – with 16% doing so once a week or more.

The survey revealed 16% of mums shop online once a week or more often for their children or themselves, a further 25% shop once or twice a fortnight and another 40% at least once or twice a month.

Not only do they shop regularly for their family but more than half of them always compare prices when they shop online, with 86% admitting they like to “feel they are getting a bargain” when they buy, said researchers.

Of course, this is all very good news for online retailers, providing that they are the ones giving these shopping mothers the bargain that they are looking for.  The best way to know for sure that you are as competitive as you can be is to watch the prices of your competitors on a regular basis, react immediately to any price changes and then include a price comparison box on your product page so that your customers know that you're the cheapest without ever leaving your site.

Luckily, all this can be achieved simply by speaking with Competitor Price Watch

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Shopping centre development falls 10%

Shopping centre construction continues to fall as developers remain cautious over the economy, figures released today reveal.

Retail Gazette reports that construction activity is at just 25 per cent of the level recorded immediately before the onset of the 2007 credit crisis.

The CBRE, a leading commercial real estate advisor, also noted that the exceptional growth of the grocery sector is exacerbating the problem as supermarkets increase their non-food offerings, with supermarket development growing 57 per cent since September 2007.

So that's the economy still in a state of depression and supermarkets increasingly becoming a source of 'one stop shop' but what both CBRE and the Retail Gazette have failed to take into account is the rapid and impressive rise of online shopping.  As Internet shopping becomes easier, more efficient and the most cost effective way to buy almost anything, people don't need the shopping centres nearly as much as the used to.

Of course, if this trend toward the web continues, there is going to be a lot more competition for the attention of the shoppers.  The best way to ensure that your store is the most popular and most visited on the web is to set your prices at the most competitive level possible.

The best way to know that you are doing that is to use the ONLY human edited Price Comparison site available;  Competitor Price Watch.

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When is too soon to plan for Christmas?

It's been the hottest week of the year and we're not even in August yet and there are still 150 days left before 25th December, but Harrods have already opened their 'Christmas World' Department.

Whist most retailers wouldn't plan for the Festive Season quite this early, it is something that needs to be forefront in their minds at some point quite soon.

We are heading towards to the busiest and most profitable time of the year when more and more shoppers turn to the Internet to avoid the high street crowds and to find the all important Best Deal.

Retailers need to be ready with that deal sooner than the rest of the market place and the only way to know that you're competitively priced is to keep a close eye on what everybody else is doing.

You need to know when they change their price, how often and to what.  Then you need to be able to tell your customer that you've researched all this and that they are in the right place for the best price.

As an early Christmas present to yourself, take a look at Competitor Price Watch - They can make all your Festive dreams come true!

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Britain sinks far deeper into recession than expected

Reuters News Agency have reported that, far from seeing a growth in the past few months, the UK economy has now fallen further than anybody expected.

Chancellor George Osborn has been quoted as saying that the country had "deep-rooted economic problems" with The Office for National Statistics saying that Britain's gross domestic product fell 0.7 percent in the second quarter, which is the sharpest fall since early 2009 and a bigger drop than any of the economists surveyed in an earlier Reuters poll had expected.

With such serious news affecting the whole country's economics and the purchasing power of the public, it is more important than ever to ensure that your online prices are set at just the right level to undersell your competitors whilst, at the same time, make you as much money as possible.

Fortunately, Competitor Price Watch is able to help you in this very regard!

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Ocado's virtual shopping wall comes to Birmingham

Ocado, the independent online grocer who focus on the home delivery of high-quality food, drink and household goods, have set up their second virtual shopping wall for people to use with their Smartphone apps.

By simply scanning the bar-code of a product pictured on the wall, the customer can order an item and have it delivered to their home.

As this trend of easily accessible online shopping continues to grow and appear in mainstream life, the importance of being at the forefront of the emergent technologies and perfectly placed priced cannot be overstated.  Making sure that when people see your site and you prices that they know that they are in the best place for value and service is vitally important.

Fortunately, Competitor Price Watch can help you with every step of making your customers know that they have come to the right place.

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Online Shopping on the rise according to Ofcom

Coining new phrases along the way, people are starting to embrace the opportunities presented by increasingly clever smartphones and Internet capable TVs and tablets.

Ofcom has found that "Over half of smartphone users claim to use their phone in some way when out shopping" and a lot of people are now 'ROBO' Shopping (Research Offline Buy Online) which means that it is ever more important to ensure that when these potential customers are looking online for the right product and the right price, you need to be right there for them.

To ensure that these people buy from you and not anybody else, you need to ensure that your prices are pitched and the best level for both you and your customer when compared to everybody else in the market place.

This is where Competitor Price Watch will prove to be an indispensable tool.

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Get ready for the economic 'Indian Summer'

Ernst & Young have predicted that the UK economy will return to growth over the next 6 months and that " inflation should hit 1.7% by the end of the year, giving consumers extra cash in their pockets to spend"

Obviously, this is good news for all retailers but in order to take advantage of this extra money, you need to make sure that your prices are priced at exactly the correct level to be both enticing to the customer and as profitable as possible for you.

With so many firms selling online, this can be a difficult balance to strike without help.

All the help  you could possibly need in respect to making sure that you are competing as best you can with the competition can be found at Competitor Price Watch.

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eCommerce suggest ways to reduce cart adandonment

According to the eCommerce Pro website, there are 5 'top tips' that will help you reduce cart adandonment.

These are -

1.       Create a secure checkout process

2.       Make registering for an account optional

3.       Keep it simple

4.       Communicate clearly

5.       Make sure your shopping cart is bug free and pages load quickly

However, they appear to have missed a very important 6th tip.  One which really should be at the top of this list.

Your customer needs to be sure that they are getting value for money!

It's so easy for a potential customer to shop around on the web.  Jumping from one site to another, trying to remember what each one was charging and who they have already looked at.

What you really need on your site is an information box that displays your competitors current, up to date price for that same item.  As long as you are cheaper than your competitor, all of their price will be listed right there on your page so the customer won't have to shop around and will stay on your site and buy from the best value store there is.

Luckily, Competitor Price Watch can help you become the best value you can be and has the facility to let you put your competitor prices on your page.

That's one thing that eCommerce seem to have missed...

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Online Shoppers see the end of 'Traditional' shopping

Cap Gemini have conducted a global survey of online shoppers and the responses indicate that by the end of the decade more than half of the people surveyed expect that traditional 'bricks-and-mortar' shops will be little more than showrooms for buyers to physically see the product before purchasing it online.

Additionally, the ease and convenience of online shopping seems to have a postitive benefit on the way that people shop - "In the two big Asian consumer powerhouses, digital shoppers are bypassing traditional retail. 72% of survey respondents from India, and 69% from China, say they buy more products in a single online transaction than in one conducted inside a store."

This shows that more and more sellers will be moving into the online marketplace very soon and, with it becoming an increasingly competitiive arena, the importance of setting your prices at just the right level cannot be overstated.

You can read more about the best way to achieve the perfectly placed price by visiting Competitor Price Watch.

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Office Depot moves into Europe with lessons for all online retailers

Office Depot, the U.S. based office suppliers retail chain, is planning to make 75% of their sales online across Europe and as such have been looking into the very different ways that people shop online from country to country.

"For example, customers in the Netherlands frequently use online chat to get help when shopping the Office Depot retail site, while those in France are less likely to use that feature.

There are also variations in the type of questions that online customers ask. In the Netherlands and Germany many consumer questions are related to the practicalities of when and how products will be delivered. In the U.K., shoppers more often ask for further details about products."

This sort of research and information is vital for all online retailers who are looking at expanding their business into the lucrative continental European marketplace.

What this report does not tell you is how to monitor the prices of those companies already operating in Europe.  This is where a cross border, multi-currency, internationally used company like Competitor Price Watch can be of invaluable assistance.