PriceTracker – a new wave in retail software

PriceTracker

PriceTracker is a breakthrough in modern web applications. Data from many different sources, websites and shops is collected and done on a historical level within our database. Each item is catalogued and saved with data collected every 3-4 hours. This means as soon as there is an update to a product we will catch it! With over 100000 sites and growing PriceTracker has the ability to shake up the whole retail market.

Stage One Benefits

Stage One benefits are endless for users who subscribe to the service. Once deployment a wealth of information will be available to all. This information will be available in graphs and statistical information on past sales history and sale price throughout the time it was listed on a seller’s website. With this each site that is crawled the data will be instantly available to all members.

This will mean that all of the members will have a competitive edge over other sellers or buyers. With a wealth of information available the possibilities.

Early Adopters Benefits

Throughout the early adoption of this product users will find a myriad of benefits. With users being able to comment, review and even share pricing that is listed on PriceTracker it promotes an online community based environment where users can interact. Products with a high amount of user interaction will automatically rise to the front of the trending topic on our website. This will expose the product to a high level of traffic and allow other uses to see a product that they may not have been aware of.

With all buyers being allowed to freely list and integrate their products the listed products is expected to grow by over 1000% in the first year.

Being a product search based website means that users can easily find what they are after with results being shown in a grid format from lowest to highest sales value. A buyer can than quickly and effectively pick a desired website to buy the goods from.

Increasing Success Expectation

It is expected that as users being to use the service and interact within the community the amount of relevant data for both customers and sellers will grow immensely. As well as that as businesses integrate their stock on hand and sell prices with our service the amount of data collected and stored will go through the roof. With a higher amount of data means a greater understanding and historical view of the market for that particular item. This will in return give a greater return for both the customer and sellers.

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4 thoughts on “PriceTracker – a new wave in retail software

  1. Hi Matt,
    Nice blog. I think it’s a pretty good idea to track to the history of online items. I was wondering if you could also delve into how social this platform will be? For example, will people be rating or reviewing individual items or stores?

    Victor

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    1. Hey victor,
      Bit of both in regards to the social aspect. Buyers will be able to rate particular products and stores. This will help give an rounded shopping experience. I know from personal experience as a shopper that the cheapest company does not always guarantee the best service and spending an extra few dollars can mean a very big difference in overall customer satisfaction. Providing this functionality is aimed to provide exactly that, an open mind and clear picture of what they should expect before buying.

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  2. What a great idea! Working in the retail space myself I think it would be better to make it easier to match pricing and really deliver value to a customer.

    I have seen some other ideas out there that are very similar (http://www.getprice.com.au/). In your early adopter benefits you only listed features the website would have, not features that would benefit the first users or encourage them to switch services. How do you anticipate beating the competitor or enticing new users to your service?

    I think another way to increase the success expectation is to reduce the timeframe that the data is scraped. A lot of prices can change in three hours, and by reducing that to every 15 minutes the user will have more up to date data.

    Michael

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    1. That was our plan in the end.
      Well, firstly most other services in the market will only display the current price to the end user. This is great if you just want to find the cheapest retailer, though this wasn’t our only goal. We want to help bring some sense to the numbers by providing a historical chart of previous figures. This means sellers and buyers can find previous prices, analyze trends and even dips and follow the product’s value within the marketplace.
      I do agree, though at the current stage it has been found that the amount of data collected and stored to enable a historical view is quite large. At the current stage we are only offering 3 hours as it requires an immense amount of processing power which we simply do not have at the moment. Though in the future we do plan on expanding and increasing our performance to hopefully offer and almost instant update.
      Matt

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