Market Price Explorer – Making Competitive Pricing Decisions with Local and National Retailer Prices

Market Price Explorer is a tool that can show you the real market value of the tires you sell to ensure that you execute on your pricing strategy. It shows local and national average prices for the products you sell, revealing how far away from the market’s price your tire prices are.

What is happening today?

Today, many retailers do competitive pricing analysis in a manual and costly way.

To find out a local retailer price, you can either go to the competition’s website or call the retailer and pretend to be a customer, price shopping tires one by one. Researching prices like this takes a long time, and often times isn’t accurate because the price that the competitor quoted over the phone might have a discount applied to it.

To find out a national retailer price, you will find most retailers’ prices online. So you can go on one website and search for the price of a tire, and then go on to another website and do the same thing. Maybe even make your way over to Amazon or eBay, since you heard a customer check the price on Amazon once so now it is something you must consider. Price scraping services are also available for a one-time snapshot of the market’s prices, but it is very expensive to do.

These activities are inefficient, manual, and often do not produce reliable information, making it difficult to compare your tire prices against the market’s.

How can Market Price Explorer Help Me?

Torqata Data and Analytics is taking the manual work out of that process. By showing you how your tire price compares to local competition, national competition, and MAP, we can help you execute on your pricing strategy more effectively. These prices are collected in just a few seconds, and give you insight into how your prices are positioned against the market’s value of that tire.

Priced well below the local competition? Earn a few more dollars for every tire you sell while still being less expensive than the competition.

Priced above the national competition? Drive more traffic to your store by lowering that price and getting in line with the market value for the tire in question.

Where does Market Price Explorer Get the Prices I’m Seeing?

Torqata uses several data sources to determine the market prices of the tires you sell. Torqata looks through your sales data to determine the set of tires that you have sold over the last 12 months, and then compares those against the local and national prices in your area.

To identify what the local market value of a tire is, we are looking for a list of competitors that satisfy three requirements:

  • Five retailers that are within a five-mile radius of your store’s location
  • Those retailers must sell the same SKU that you are comparing
  • None of the five retailers in that list can have sales that account for more than 25% of the group’s total sales.
  • If we don’t find five retailers in a five-mile radius, we will expand to ten miles, and then 15 and so on, until we satisfy the 3 requirements above.

    We then calculate the average price of the competitors on that list and give you a local market price. By giving you an average price of the five retailers we identify, we ensure that we maintain the pricing privacy of the retailers in your area while still delivering a local market value for the tires that you sell.

    To calculate the national price, we look for online prices from national, regional, and super-regional retailers, as well as ecommerce competitors. That includes looking at larger retailer chains near your store, but also at online-only competitors like Amazon.

    By averaging prices from roughly 75 retailers for each tire, Torqata can deliver a national market price that is accurate for the tires you sell.

    What if someone in my area is showing a price online that is not realistic? Does that get included?

    Torqata does outlier analysis on the tire prices we see to cut out anything that is not realistic. By ensuring that each price we include in the calculation is no more than two standard deviations away from the average price, we can be confident that the market values we show are accurate and real.

    For example: A private seller on eBay is selling a tire for $4,000,000. Clearly this price falls outside of the norm, and it will not be included in the calculation.

    Do you have MAP, local, and national prices for every tire that I sell?

    Not every tire you sell will have all three market prices listed. We will show MAP where it is available. For some brands, there aren’t MAP prices that are widely known. Local and national prices can only be shown if we have enough prices to give an accurate measurement of the market that is also anonymous.

    Are these prices up to date and accurate?

    Yes, they are. You may notice that your prices may not be exactly what your list price is. Your price is an average of the price that you have charged for that tire over the 12 months. If you have not sold a tire in the last 12 months, then its price will not show up in the tool. This should represent your average price for this tire rather than your list price, as you might discount tires frequently. With this, we can more accurately compare what you value a tire at versus what the market values a tire at.

    The local and national prices are updated on a weekly basis to ensure that you are comparing against accurate prices for your market.


    Yes. Market Price Explorer does compare prices from eCommerce stores to give you a true representation of the range of prices that your customer may be able to pay for a given tire. Tire retailers that sell exclusively online, as well as other retailers such as Amazon, Walmart and eBay, are included in the National Price calculation.
    Privacy is important to Torqata. Your name is not shown in the local retail prices, just as no names of local competition are shown to you. Prices are aggregated, anonymized, and averaged so that no retailer is personally identifiable to their local competition.
    Your Price is an average of the price for the last 12 months for each product in your POS. This is to help avoid showing a price that is lower than what you would normally charge due to a discount/promotion.