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E-tailers need to monitor their pricing daily in order to ensure that their products are competitively priced and they are not losing out on traffic from search engines such as Google because of their prices - high prices or incorrectly priced are the most common reasons for losing out on online sales.

It is a simple task to check the online price of one of your products, but what happens when you have hundreds or thousands of categories and you need to check the prices of all products?

The below screenshot below shows a range of products where the electronics retailer Big Apple is not monitoring pricing effectively. Here we can see that all of Big Apple's products are listed on Amazon.co.uk as £999.99. This error may have occurred in the upload of the product data to Amazon or at an earlier stage of Big Apple's pricing exercise. Click here to see Big Apple's incorrect pricing entries on Amazon.co.uk.

Profitero found a similiar entry for a set of headphones by Skullcandy. Below we see that the price of the Skullcandy Headphones HESH (Stattered Blue) rose in the first week of 2012 from a competitively priced £45.99 to £999.99. Click here to see Skulldaddy's incorrect pricing entry on Amazon.co.uk.

Retailers must ensure that their prices are correct in all channels - stores, eCommerce site, reseller websites, price comparison websites etc. Retailers using a price monitoring system can enjoy a competitive advantage over less sophisticated competitors.

As well as providing competitor price monitoring intelligence for your business, Profitero can also help you to monitor your own online prices more effectively to ensure this scenario never happens as a result of your competitive pricing strategy.

Pricing intelligence company Profitero works with retailers and manufacturers right across the European zone to help them to grow sales and profit margins with the assistance of the Profitero competitor price monitoring technology. We monitor 27.5 million products across 2,500 retail websites on your behalf.