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The Best Tools for Amazon Sellers
What is the Best Amazon Price Tracker?15, Sun, Mar, 20 17:40
|What does Amazon Price Tracking do for Me?|
|How do Sellers Make Decisions About Prices|
|How to Use the Amazon Price Tracker to Maximize Your Business|
|Top Amazon Price Trackers|
The Amazon platform is an extremely competitive market that is relatively hard to break into and make serious money. More and more sellers are flocking to the market creating an even more competitive market than ever before. So, if you are a seller on the Amazon platform, then you probably need all of the help that you can get in order to have a solid, profitable, and reliable business.
The countless products that are available on the Amazon platform is hard to imagine. This is especially true for products that fall into the most competitive categories. However, if sellers could track the histories of competitive products and their trends throughout the year, the job of keeping up with the market would be a little easier. Of course, tracking this information on your own is nearly impossible, and this is where the Amazon price tracker comes in. The ability to check Amazon price history is extremely beneficial. One way you can check Amazon price history is by harnessing a tool such as IO Scout. IO Scout's software for Amazon sellers includes all the functionality you would expect from an Amazon Price Tracker tool, and much, much more.
What does Amazon Price Tracking do for Me?
Utilizing a price tracker for Amazon is actually a smart move on the behalf of both buyers and sellers using the Amazon platform. For buyers, it seems obvious that they track Amazon prices in order to save significant money on different products (usually big ticket items) that they are planning to purchase on Amazon.
For sellers, using an app to check Amazon price history can help them understand how to remain relevant and competitive on Amazon. Price trackers help sellers to understand their competition and to stay ahead of the game in an extremely competitive market that seems impossible to conquer some days. If sellers want to keep up with the market, they need to make sure that their prices are competitive with other sellers of similar products.
When sellers keep prices that are comparable to the competition, they are less likely to lose sales. The experienced Amazon seller understands that a drop-in sales will actually affect his/her visibility on Amazon thus affecting their sales even further than before. The negative cycle can cause a spiral that results in the demise of the business if the seller is not careful and calculated in his/her moves.
By using a price tracker, you keep an eye on all of the competition and can actually predict when sales will drop based on the history of the product. Some Amazon price trackers can even give you information about the reviews that customers leave for the products in a competitors store as well. This important information can make all the difference in the success of your business by simply performing an Amazon price check.
How do Sellers Make Decisions About Prices
This does not mean that sellers should simply drop their prices automatically to match the competition. There are quite a few bits of information that go into a buyer’s decision for purchasing your product.
- Customers View the First Three Products
- Customers Consider Amazon Prime
- Customers Consider Price
- Customers Look at Product Pages
Many customers tend to take a look at the first three products within their search. For larger purchases, customers are more likely to browse longer. However, this means that as a seller you only have a short amount of time to make a difference in the opinion of your customer. Landing on the first three products listed on a search results page is essential for making an impression on your customer. Even if your product is slightly more expensive, landing on the first three products ensures that you are taken seriously by your potential customers.
Keep in mind any costs that you have associated with the product. Do you pay employees? Do you have to pay for packaging? Is your product stored in an Amazon facility and therefore shipped by them? All of these extra expenses need to be considered when trying to determine your price. Customers much prefer Amazon prime items for conveniences as well as a certain trust factor that customers have built with Amazon Prime products. You may want to consider having a prime product if you want the best real estate on the Amazon website.
Customers are absolutely going to compare prices between products. However, they also understand that some products are worth more than others. As a seller, you have to ensure that you are not risking losing money through your tracking habits. Select an absolute minimum to still make a profit and stick to it no matter what the competition does.
Finally, make sure that your price is justified by the information on your product’s information page. Your product information page is important to the customer who is considering whether your product is better than a competitor’s product. Make sure to tell your customers why your product is clearly superior on the product information page because this is how they make their final decision when they are not sure.
How to Use the Amazon Price Tracker to Maximize Your Business
One of the first steps that a seller must take on Amazon, or on any for profit business, is to decide what the minimum amount that their product must sell for on Amazon. This is the very first step to using a price tracker to stay up to date on your business and your competition when it comes to your profitably.
Once you have determined the bare minimum price that your product can go to still make you money, you also need to determine the ceiling. What is the absolute most that this product will be able to be sold for and maximize your profit. This is the first place that an Amazon price tracker comes in handy. By looking at the history of the profit for a particular product, you can easily determine how much you can expect a product to sell for on the Amazon platform. The ability to check the Amazon price history on Amazon is great for helping you set your prices.
Once you have determined the bare minimum and absolute maximum of the product to remain profitable. These are the numbers that you will need to feed into the price tracker in order to track the prices and change your prices on your Amazon products. Once you have set this up, you will be able to track products accordingly.
Another important factor to consider is that some of the products who are technically your competitors are not real competitors. The competitors that you need to concern yourself with are the ones who have seen similar success. These are the products that fall directly above and directly below your product on the product search page.
Once you have gotten your Amazon price tracker app up and running, you can monitor the relevant competition to keep your competition from surpassing you on the market. When able, drop your prices to be similar to the competition so that customers are not deterred from your product by a large gap in the prices. It is still important to remember that you do not need to lose any money in this process. Do not drop your prices below your bare minimum for any reason.
Top Amazon Price Trackers
There are quite a few Amazon price trackers currently available for use by people who sell on the Amazon platform. Determining which one is best for you can be a bit overwhelming. This is why we have compiled a list of the best Amazon price trackers available for use for Amazon sellers for you to browse and compare.
1. Camel Camel Camel
One of the most well-known price trackers for Amazon is called Camel Camel Camel. This app is extremely user friendly as reported by Amazon sellers who have been actively using the app since it appeared.
The Camel Camel Camel app is used as addition to your browser. One of the major benefits of Camel Camel Camel are the advanced statistics and specific tracking options that you can access as a user of the app. At the time of this article, Camel Camel Camel is extremely diverse and can be used with a variety of devices and browsers. Its uses include working on Apple and Android phones, as well as in-browser additions to Safari, Google Chrome, and Firefox.
The Camel Camel Camel app is extremely easy to use and displays pertinent information about the products you research right from the main product page of that product. It is fairly similar to other options for Amazon price trackers.
There are several additional features that make this choice a good option over other Amazon price trackers. You can simply search for a history of prices by copying and pasting the URL of the Amazon product feature. Further, if you are tracking the prices for personal reasons, you may consider the useful feature of syncing this app to your wishlist as well as filtering products by category, and using Amazon location tracker.
One of the longest living Amazon price tracker apps is titled Keepa, as well as being one of the most long-lived apps, it is also one of the more reputable apps. Originally, Keepa was designed as strictly an app for your laptop or desktop. However, it has since evolved to an Android app in addition to having extension capabilities on several web browsers.
Keepa will not be winning an award in design anytime soon. In fact, you would probably not realize how powerful the tool of Keepa really is if you judged it solely on its appearance. The Keepa app is relatively simplistic and therefore looks a bit rudimentary in its design, but this is no indication of the app’s capabilities.
Keepa has a lot of power in a fairly simply designed little app. It absolutely leads the market on its ability to display and track prices on Amazon. Beyond its Amazon capabilities, Keepa actually tracks and alerts for other financial adventures as well. Keepa is a great tool for tracking inventory, price drops or raises as well as sales going on in other stores. Keepa is able to display graphs and histories of prices on various products as well.
In additional to being able to track Amazon prices and products on the United States version of Amazon, you can actually also track Asian and European Amazon sellers as well. This is beneficial if your own store is available internationally.
As an added bonus, there are variety of methods for receiving price notifications on the Keepa app. The Keepa add allows you to see messages or notifications through an RSS feed, a Telegram, Facebook notifications, Twitter notifications, as well as emails to notify you of a price change. If you want to begin tracking a particular product, you simply tag the product to begin receiving notifications.
The Keepa app was once entirely free. However, since the app has taken off and become a necessary tool for running a successful Amazon business, it has begun to be accessible for a fee. At this time, you can choose the monthly option of $15 billed monthly, or you can choose to pay a flat fee of $180 per year.
3. Amazon Price Tracker by Digital Inspiration
The Amazon Price Tracker is designed by a company named Digital Inspiration. The Amazon Price tracker is most certainly one of the top price trackers currently available to sellers on the Amazon platform. This price tracker allows you to create a specific list of items that you want to watch as well as create specific alerts through various price variants on the app itself to specify what you would like to be alerted on.
After you have set your watchlist, the app will begin to gather data about the different changes in prices for the items that you selected. Further, Amazon Price Tracker will send you alerts when product prices fall below or go above the limitations that you have set for each product. Further, you will get email summaries each day that give you a unique look at various price trends over time.
You can choose between two different versions of Amazon Price Tracker. There is a version available for personal use which is simply referred to as Personal and a version for use for larger companies which is referred to as Enterprise. The difference between the two types of plans is the number of licenses that you are paying to be able to use. If you need more than one person to use the plan, then you need to purchase an Enterprise version or purchase more than one personal versions.
With the personal version of the Amazon price Tracker, you are able to set up to 600 alerts for various products. However, you are not able to include a source code. On the other hand, you can use Source codes as well as private hosting if you invest in the Enterprise package. The price difference is not really that stellar.
The personal plan costs only $29 a year. On the other hand, the enterprise plan costs $299 a year. This means that you need to weigh the options for your goals and the number of licenses you need to purchase.
With Honey, there are a variety of ways that you can use this app to track prices on more than just Amazon which can be beneficial for the all-around business person. Honey actually is compatible with the five most widely used web browsers around- Firefox, Opera, Google Chrome, Safari, and Edge. Making it even more versatile is the fact that this application can actually track prices on over 3,700 websites. The websites include Amazon which is the main focus of our article, but also major retailers like Walmart and Target.
If you have installed the Honey application, then Honey will do all of the hard work for you. If you visit a website that is covered by Honey’s tracking services, then your extension icon will automatically turn orange indicating that this site works with Honey. All you have to do is tag the products that you would like Honey to keep track of. You set certain limits as far as minimum amounts and maximum amounts and Honey will alert you when the product begins to drop within those regions.
As an added bonus, the Honey app is actually keen at saving money in more way than one. The Honey app will actually search for discounts, coupons, or price matches that are available to you through the retailer. Honey will automatically apply those discounts to purchases that you make on a personal level.
As a business owner, Honey is appealing for the ability to keep you products within the average range of prices on the market. It is simply an added bonus that Honey can also save you money in your day-to-day purchases, especially if you frequently shop online. Best of all, Honey is absolutely free to install and free to use as an Amazon price monitor.
The Waatcher app is not nearly as creepy as its name makes it sound. In fact the Waatcher app is one of the leading Amazon price tracker apps on the market today. The Waatcher app is actually a website that uses your Amazon login to make purchases for you.
However, you can adjust the settings so that the app will simply send you an alert when products fall within certain limitations that you set within the website. The Waatcher app is actually relatively new when considering the length of time that other Amazon Price trackers have been on the market. However, it has been extremely successful in its short time on the market.
Use an App to Track Deals and Prices
Using an Amazon price tracker is a good idea for a variety of reasons. First of all, tracking prices and patiently awaiting the best deal makes sense as a customer. After all, who wants to pay more money for something when they can get a much better deal by exerting a little patience? By using an Amazon price tracker, you can ensure that your personal purchases are spread farther and make more of a positive impact on your budget in the long run.
Along the same lines, price trackers can be beneficial for business owners, especially business owners working on the extremely competitive market of Amazon and want to watch prices. Whoever said to “keep your friends close and your enemies closer,” would have made an excellent business person. The Amazon marketplace is tough and understanding the market is the first step to making a serious splash in your success in the long run.
What are Amazon Price Trackers?
Amazon price trackers are applications that can be added to phones and browsers to help you understand the trends in prices on certain products on Amazon. These are beneficial for both buyers and sellers on the Amazon platform.
Can you view price history on Amazon?
You cannot view the history of prices on products directly on the Amazon website. In order to do this, you definitely need to have access to one of the many price trackers mentioned in this article.
Can Amazon alert you when a price drops?
Could they? Yes. Will they? No. Amazon wants to make money just like the rest of the businesses who sell directly to consumer on the market. It would not make sense for Amazon to alert customers of price drops, they would lose money that way.
Does Amazon refund if a price drops?
Yes, Amazon will refund items that are delivered within seven days of a price drop. However, they do not advertise this information (for obvious reasons) so you will need to contact Amazon if you notice that the price has dropped on an item you recently purchased or received.
Using an Amazon price tracker is extremely beneficial for both sellers and buyers on Amazon marketplace. The market changes rapidly and both sellers and buyers will struggle to keep up with tracking these changes on their own on the marketplace because of the vast amount of information that appears on an Amazon search.
You should use the Amazon price tracker to maximize your profit and sales if you are an Amazon seller. Some of these resources can save you a lot more money than you will be spending to utilize this particular software.