Using web data to better price items for my store?

Hey guys, I have a wholesale store that I've been running for a while now. It's doing pretty well, but I want to continue to grow and increase my profit margins on each sale.

I've been thinking about trying something new, like scraping sites such as Amazon, Aliexpress, and Alibaba for products similar to those I offer, and adjust the prices accordingly if there's a change. For instance, if I purchase item X for $20 and sell for $40, but down the line people are starting to sell item X for $50, I want to make sure I'm keeping up with competitors and not losing any money.

If anyone has experience using web data for their business, please let me know as it'd be extremely helpful. Even if you have other ideas on how to use it, that would also be helpful. Just not sure if it's worth spending the time/money implementing it.

submitted by /u/FabulousInvestment32
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