In a world of online shopping, an item can go out of stock within minutes. Many times, I’ve experienced an item selling out while it is still sitting in my online cart. API Inventory, an automated program that tracks inventory in real time, is the perfect tool for online sellers to keep their information updated to avoid such common issues. In addition to real-time inventory management, you can easily compare prices and track industry-wide trends. With API inventory, you can streamline your process and be clear with consumers. Web scraping, the automatic extraction of data from a web page, is a tool that helps you track inventory and more while collecting useful data for analysis. With both these tools combined, your organization is ready for the future.
If you know the basics of API inventory, use the table of contents to learn about Scraping Robot’s API and how it helps you directly input data into your program of choice.
Table of Contents
What is API Inventory Data?
API inventory data is collected through an automated inventory management system. These programs allow sellers and distributors to edit inventory in real time. Such programs are usually connected to the seller’s website, therefore the data updates along with the API inventory.
An automated inventory management program tracks
- Inventory moving between locations
- Orders from supplies/ orders from clients
- Products moving out
- Goods running low
- Sales history
By using an API to keep track of inventory, you’ll avoid common mistakes throughout your entire workflow, increasing consumer experience and ridding you of the burden of constantly checking inventory.
How to Collect Inventory Data
While inventory data can be collected and updated manually, this takes lots of time, money, and employees. Additionally, an inaccurate inventory needs to be updated right away which makes manual data entry not ideal for larger organizations or those whose inventory is constantly changing.
Web scraping, the automated extraction of data from a web page, is the ideal tool for collecting inventory data. By using a web scraping tool, you save the time and money it would take to manually collect data. Because scraping is automatic, your inventory will be constantly updated, giving you and your consumers the most accurate picture of your organization at a given moment. This helps avoid misunderstandings with consumers as well as prevents other errors for occurring due to incorrect inventory data. With web scraping, your employees can spend less time collecting data and more time analyzing it and reaping its benefits.
Benefits of Automated Inventory Management
Automated inventory management with a web scraping tool provides many benefits to consumers and organizations alike. Here are just a few of these benefits.
Real time inventory tracking
The biggest benefit is the real time tracking of your inventory. Updated information, for both you and your website, helps keep you and your consumers on the same page. In addition to making mistakes less likely, you have a better sense of what people are buying and what to invest in more with a constantly updating inventory. Because inventory can change in a matter of minutes online, this is especially important for online-only or mostly online brands.
For organizations with inventory moving between locations, an API inventory report is more than just sales information. By focusing on how inventory moves during the entire production process, you’re less likely to lose or misplace stock along the way.
Within competitive markets, understanding your price point compared to the competition is essential for relevancy and success. Web scraping product details (price, size, stock, and more) gives you important price data that helps you stay in a competitive range without excluding too many consumers.
By having updated stock information, you can easily adjust prices according to demand. Without knowing how much stock is left for a given product, it is impossible to determine how much to raise/lower the price when demand fluctuates. Updated product information through web scraping ensures that you are updated on the market and overall demand. If you are constantly running out of stock compared to the competition, this is a sign that you can likely raise your prices a bit without much negative feedback. If you are struggling to sell stock, lowering your price below the competition can help you draw potential consumers away from them and to you.
Just as inventory is fluctuating, so are industries and markets. Being aware of your inventory through collecting inventory data with a scraping tool also makes you aware of larger industry trends. Through collecting api inventory today, you will get a better sense of what tomorrow brings. Inventory data helps you recognize and analyze rises and falls in inventory demand and sales during the year. By constantly collecting this information, you’ll become more aware of what times of year/outside influences impact demand versus one time rises in demand. This helps sellers anticipate what moments to increase stock in the future and anticipate demand during holiday seasons or other moments in the year when demand for a given product tends to increase (ie. sunscreen during summer).
Scraping for additional data that analyze changes in national consuming habits or other data points that impact demand (average disposable income, unemployment, etc) that can help you make sense of your own inventory shifts. If you can rule out external forces affecting your product demand, then you can use other data to make sense of it and find creative solutions.
Scraping Robot and API Inventory
Scraping Robot’s API is the perfect tool to use for inputting scraped inventory data directly into your analysis program of choice. There are also other sites that can be scraped for useful product information.
Scraping Walmart’s website is a great way to find competitive data for online retailers. Since Walmart has fairly cheap prices, scraping price data from product information pages can help you determine a reasonable price range to work with.
When you scrape Walmart product pages, you get the product title, product description, and price information as data. This information enables you to analyze prices related to material, dimensions, and product reviews.
Wayfair, an online furniture brand known for its low prices, is another great source of product data. Scraping Wayfair helps you collect data related to title, description, and price. Similar to scraping Walmart’s website, you can gain valuable insights related to what the market is able to handle with regard to price and product. When trying to update your own products, whether through design or marketing, understanding what is attractive about the competition makes it easier to understand what is unique about your own.
Similarly, since many online shoppers first go to sites like Wayfair, Amazon, or Walmart, tracking their stock is useful for knowing when to more heavily promote your own. If you notice a Wayfair sofa is constantly selling out, creating a promotion for your own sofa is a way to attract Wayfair customers to your business when they are frustrated about waiting for restocks elsewhere. Offering a similar or lower price is sure to seal the deal.
Scraping Robot API
While an API inventory report is useful for analyzing your organization and selling stock, this information can be harnessed for analysis as well. Using a web scraping tool is the best way to collect data easily and for less money. However, it can be more difficult to transfer data into preferred API analysis programs. When you only use data for immediate purposes and overall analysis, you are more likely to succeed and anticipate problems before or as they arise.
Scraping Robot’s API makes it easy to input scraped data directly into your API of choice. In addition to make data transfer simpler, when you work with us you also get the expertise of our dedicated team. While scraping rids you of the burden of manual data entry, working with Scraping Robot’s team rids you of developmental and security tasks that take away from creative brainstorming time. Therefore, working with our team helps you improve your data collection, analysis, and overall time management. If this is the right option for you or your organization, check out our API process page for more information.
Online shopping, while convenient, makes it difficult for sellers to keep up with a constantly changing inventory. Web scraping, the automated extraction of data from web pages, is a tool that helps you collect useful inventory data to analyze in an API. However, API inventory is often hard to transfer between data collection and analysis programs. With Scraping Robot’s API, you can input inventory data directly into your program of choice, which helps you avoid easy inventory mistakes, easily compare prices, and anticipate market trends.