Competitive Pricing Analysis

Hello everyone, in e-commerce there is a competitive pricing analysis to develop a competitive pricing strategy, but I don’t know what it is at all? Are there people here who can inform me

Competitive price analysis is an indispensable tool for online stores. It helps them make pricing decisions, helps them set market prices, and highlights the strengths and weaknesses of competitors. Neglect of this e-commerce tool leads to a decrease in business competitiveness and loss of market share in favor of more informed players. Large brands use technological solutions and services such as [url]https://pricer24.com/blog/competitive-pricing-analysis/[/url] , which automates data collection and price comparison . This not only saves managers time, but also provides visual reports for monitoring and opens up more opportunities for analyzing and comparing prices, discounts, promotions and special offers of competitors.