Price Comparison On Amazon: How Web Scraping helps Companies win the E-commerce Game
Updated: Feb 5
Rudderlessly moving around in the market to buy products has become old-fashioned. The millennial is using e-commerce websites like Amazon which has cut the chase of shopping while allowing you to find your best buy. This is possible through exceptional lead generation techniques and web scraping for e-commerce.
Among the numerous factors influencing the customer purchasing decision, pricing tops the list. While customers struggle with the purchase decision, e-commerce websites wrestle with pricing decisions. In this era of price comparison, Amazon has become the undisputed conqueror because of its exceptional pricing strategy through scraping pricing data.
Let us dig deep into how and why Amazon bagged this sweeping win using the six sigma policy.
Two factors taken together can explain the distinguishable price comparison strategy on amazon: speed and number of iterations. In 2013, Amazon made price changes to 40 million products in a day, and this number doubled in the next year. There are several websites available for price comparison. Amazon’s competitors couldn’t reach even half of this number. Under this pressure, they were unable to achieve high-quality sales leads as Amazon.
But why Price Comparison?
Retailers need to perform price monitoring for several reasons continually. Your competitors can sell the same product at a lower price or offer a more ludicrous discount. This phenomenon is the price match. But Amazon managed to surpass this barrier by using web scraping for e-commerce. So let us understand Amazon’s secret formula.
quote by Jeff Bezos image source:http://cryptonewsusa.com/
Jeff Bezos, Amazon’s CEO, expressed in a single statement, his intention and importance of price comparison data.
What is Web Scraping?
All of us use the web for a tremendous amount of ongoing searches. But using web scraping for e-commerce can help you gain an edge in online merchandising. Businesses need to gather vast amounts of data from various websites. Such information is stored either as a local file in your computer or a database. To earn the trust of your customers in your pricing, you need to change your pricing on a real-time basis regularly. It will become the soul of your marketing and pricing strategy. Analysing this data aids lead generation.
Amazon became the leader in this targeted marketing-driven industry by putting big data analytics to use. They efficiently used web scraping for lead generation. Simultaneously, there were able to predict buyer trends and therefore, were able to influence customer preferences.
How scraping Amazon data can make that huge difference?
Business decision making is a complex process. Dealers must understand the need for scraping pricing data from Amazon. Furthermore comparing and monitoring it will help you develop a more competitive marketing strategy that aids efficient lead generation.
These analytics tools will also help you improve your product’s ranking in the search results. Analysis of Amazon reviews will tell you how effective your ongoing marketing strategy is. Besides, it will help you plan out any required changes in your approach. According to the scraped data, you can determine the demographics of your buyers and accordingly create discounts. Altogether, all these factors will help you get high-quality sales leads.
How to use Amazon for scraping e-commerce pricing data?
There is a tremendous amount of data with Amazon itself ( Approximately, 120+ million in a day ). Let alone its competitors like Walmart. You can be making a price comparison on Amazon for various reasons. Consequently, the factors of your metrics will differ.
To start with, you need to set a few ground-level assumptions. For instance, you need to finalise the source of this data (which will be Amazon and few of its competitors) and the sub-categories. Refresh frequency of each of these sub-categories needs to be separately specified. You also need to be aware of any anti-scraping tools working alongside your source websites. As a result, you can decide the volume of pricing data you need to scrape. In addition to this, understanding the
e-commerce data will help you extract precise information. Precise data will smoothen the process.
Channelising all this work in a specific direction s is the first step. That direction is yours to decide, thus adding to the efficiency of the process. Once you have extracted the data, you might want to obtain reviews as well. You can easily use tools like Scrapy for scraping Amazon data. Many times, e-commerce handlers forget this essential piece of information. As a result, there might be a few discrepancies in your budgeting.
Web scraping service for Amazon price comparison
The data extraction process depends entirely on the structure of the source website. You start by sending a request to the site to which they respond with an HTML file. You parse information from this file. Web scrapers can be designed using many tools. Here, you can learn how to design one such web scraper using Python. The information you get has to be converted to a CSV file.
Many tools can help you in performing price comparison on Amazon. Only a few among these are reliable though. Choosing a web scraping service requires a comprehensive knowledge of the same. Afterwards, when you start putting this precious price comparison data, you will understand how everything can change with just a few million products a day.
Why perform web scraping for pricing data
Undisputedly, live scraping can be the elixir for your business. It can help in various domains to help boost your e-commerce business. But your pricing strategy specifically requires pricing data. A few advantages are listed below:
You won’t need much storage space: All the data that you have downloaded has to be stored in cloud-based providers or storage hardware. Whereas, for live scraping, you don’t require much space as the data keeps changing. Surely, there is no use in storing old data.
You won’t need to update each field: A reliable web scraping tool will launch the scraper now and then. In addition to saving cost, it will also collect your workload.
No delay in data updates: Truly, stale data is of no use. So when a web scraping tool runs its operation at constant intervals of time, you will have an influx of new data. This practice will ensure that your audience comes to your website again.
Easy to add new items to the website: When the data is updated, the scraping algorithm can easily add new items to your website. By assigning the method to deal with one product, you can repeat it for all the others.
Challenges in scraping e-commerce data
Indeed, web scraping is a ludicrous option. But nothing good comes without its share of drawbacks. Looking at a few challenges in scraping amazon data will, therefore, prepare you for the consequences.
You will require robust network connectivity: When it is about real-time scraping for pricing data, any fluctuation in connectivity can make you lose tremendously.
Fast processing is the key: The key to holding impatient customers is to be quick on your feet. In the time-lase between the search and results, of course, fillers need to be incorporated.
Changes in the source website can create issues: Your scraping algorithm can adapt to the structure of the source website. If this structure changes, your algorithm might fail in fetching data continuously. This delay might leave a blank for specific products.
Give our services a try!
Indeed, web scraping is a game-changer. To use web scraping for price comparison , it is best to choose a responsive tool. At Datahut, we excel at web scraping services for several purposes. To give our data extraction services a try, tell us your data needs and we’ll get you your solution.