It’s no secret that Amazon is one of the most competitive marketplaces on earth. The platform is full of sellers looking to gain market share and maximize profits. So, how do you get an edge over your competitors?
One of the best ways is with a top-notch pricing strategy.
Strategic pricing takes a lot of data, planning, and ongoing analysis. But it’s a significant driver of your profitability, making a solid strategy vital for long-term success. That’s why having an Amazon price tracker in your toolbox is vital. A price tracker lets you stay current on your competitors’ pricing and helps you find discounts and promotions to earn new customers. When you use this tool to its full potential, you can accelerate your growth and see impressive success with your Amazon business.
Using Amazon Price History Trackers
These intuitive tools are designed to be used by both seasoned and experienced sellers alike. With simple dashboards and easy-to-use features, you can understand sales history and pricing data more deeply to hone your strategy.
What is an Amazon Price Tracker?
A price tracker is an Amazon Seller tool that continuously monitors price fluctuations. It scans the marketplace for competitor prices and notifies sellers about changes. This can help you identify competitive products and areas where the marketplace may be saturated.
How Does an Amazon Price Tracker Work?
Price trackers have both manual and automatic functionality. With an Amazon price history tracker, you can select a product, view its previous price points, and analyze trends. You can also set alerts and allow the tracker to do the research and monitoring for you. Just choose the products you’d like to keep tabs on, and the tracker will automatically let you know when the price point changes.
What are the Benefits of Amazon Price Trackers?
Price trackers are an optimal way to boost your productivity and profits. They can help you conduct research and stay on top of your competitor’s moves. Plus, with integrated extensions and preset alerts, you can conduct research and develop your pricing strategy more efficiently.
What Are the Best Amazon Price Tracker Apps and Extensions?
There are several Amazon price tracker apps and extensions to choose from, so it should be easy to find one that fits your budget and research needs. These apps are designed for busy sellers and can be easily accessed for simplified tracking and quick decision-making.
It has a silly name, but the Camelcamelcamel platform is popular for several reasons. First, it’s super intuitive, and the simple interface makes it easy to start. In fact, you can start using the tool without creating a login. Plus, the price drop alerts are customizable, quick, and easy to set up. This app also has a free Chrome extension – The Camelizer – so you don’t have to leave the browsing page to get accurate pricing data. The best part? Camelcamelcamel is free to access and use.
Keepa is another robust price-tracking platform with a helpful integrated extension. You can add this tool to various browsers, including Chrome, Firefox, Safari, and Edge. This integration lets you track pricing history and dive deep into product data without interrupting your browsing. Keepa also boasts access to mobile apps in both the Google and Apple stores, perfect for strategizing on the go. You can set up alerts in the extension or the app to notify you on synced devices so you never miss a pricing change. Plus, the app’s integrated barcode scanner eliminates the guesswork of efficient product research.
Related article: Keepa vs Camelcamelcamel: Top Features, Pricing & More
PriceBefore is a helpful Amazon search tool that also allows you to set custom pricing alerts. Simply copy and paste the product link in the search bar and quickly see the price history for any Amazon item. As a bonus, you can also research product links from Flipkart or Snapdeal. If you aren’t quite sure what you’re looking for, you can click on the search bar and browse one of the popular categories.
Pricepulse is another free Amazon price tracker that offers a Chrome extension and tons of pricing data. The extension will monitor your selected products and alert you of any price fluctuations. The AI-driven tool also analyzes past pricing trends and provides you with predictions to drive your strategy.
Choosing the Right Amazon Price Tracker
With so many Amazon price trackers, it can be challenging to commit to one option. The good news is, you don’t have to – you can try several apps to find the one that best suits your needs. However, if you’re wondering how to find the best Amazon price tracker for you, you should start by weighing the following factors.
- Price: Are you just starting as an Amazon Seller and working with a slim budget? Or are you willing to invest more to get the top tool for your needs? Consider how much you want to spend on price-tracking access to narrow your search.
- Functionality: Most price trackers have similar functionality. They will allow you to tap into price history and create custom alerts. However, there may be limits to the number of products you can track or the specific metrics you can access, especially with the free versions. Carefully check the specs of any products you’re considering to ensure they can meet your unique needs.
- Accessibility: Think about where you want to be able to access your price tracking data and receive alerts. Your desktop? Your iPad? Maybe your cell phone? If portability is a top priority, you’ll want a price tracker with a mobile app. And if seamless browsing is a priority, an integrated extension is a must.
Advanced Strategies for Effective Price Tracking on Amazon
Once you select an Amazon price tracker, you’ll want to make sure you’re using it to its full capabilities. There are a few strategies to ensure you’re always getting the most helpful pricing data.
1. Customize Alerts To Optimize Pricing In Real-Time
Any delays in shifting your Amazon selling strategy could result in lost sales. Alerts can let you know in real time when prices drop. Make sure to customize your settings and optimize them regularly so you’re in the best position to adjust your pricing on a dime.
2. Utilize Historical Data For Competitive Pricing Strategy
Price trackers give you access to various spans of historical data. Look into pricing history to identify trends and better predict pricing shifts. This can allow you to make highly informed decisions when pricing more aggressively.
3. Navigate Price Trackers To Capitalize On Market Trends
Watch for common price fluctuations within your product categories to identify market trends. This can help you pinpoint areas of demand and tap into more potentially successful niches.
Amazon Price Tracker: A Tool for Success
Data and intuitive tools are vital in growing your Amazon business. The first step is identifying the best Amazon price tracker for your needs. Then, take advantage of all aspects of the tool and ensure you’re using the data to its full potential. By taking an attentive and comprehensive approach, you’ll craft a pricing strategy for long-term success.
Do you need additional help managing your Amazon campaigns? Try working with a retail advertising expert. They’ll show you what it’s like working with advertising pros who know the ins and outs of Amazon and other ad platforms.