Amazon has become the standard for eCommerce marketplaces, pulling in a net profit of 33.36 billion dollars in 2021. When a new business sets up, it registers as a seller on Amazon, whether it sells books, retail goods, handmade items, digital content, etc. It’s the go-to option for many online shoppers searching for the best deals.
However, nothing is more frustrating than discovering that you paid $100 for a product on Amazon and your friend, on your recommendation, paid $80 the next day. This frequently happens with millions of Amazon customers worldwide.
Setting up an alert when price drops on amazon is a great way to prevent this from occurring in the future. Read on to learn how to track Amazon prices.
Is it possible to track Amazon prices?
A savvy Amazon shopper understands that Amazon price tracking is critical to getting a good deal. Prices on the world’s largest online store site are constantly changing. Sellers on the marketplace are notorious for raising their prices to provide “discounts” at a later date, especially before key events such as Amazon Prime Day, Black Friday, and Cyber Monday. Moreover, the industry uses dynamic pricing, a strategy in which companies set variable prices for goods or services based on market demand.
Prices are constantly changing, which is why using an Amazon price tracking tool, like Sugar, is a smart way to stay on top of Amazon’s cost fluctuations and simplify your shopping experience. Rather than bookmarking Amazon products and repeatedly hitting the refresh button to see if the price has reduced, buyers might opt for this Amazon price tracking tool to stay on top of price alerts.
How does an Amazon price tracker work?
Price trackers monitor millions of Amazon products daily, often many times per day, for price fluctuations and notify users when a specific product’s price changes.
Amazon price trackers keep an eye on the prices of consumer goods and content on various Amazon markets. Amazon users or potential buyers only need to choose the things they want. Then the service begins tracking pricing fluctuations all around the world. You can also specify a price range within which you intend to buy a product from Amazon.
Let’s use Sugar as an example. Sugar utilizes community power in conjunction with existing eTail APIs to provide a more intelligent shopping experience by displaying price history and trends in real-time, tracking price changes, and automatically applying coupons to save customers time and money.
Why use an Amazon price tracker?
A price tracker is a tool that customers and businesses use to keep track of prices and make educated pricing decisions. It benefits sellers, retailers, distributors, and manufacturers in B2C and B2B transactions.
Amazon price trackers offer many benefits to users. They provide price history on all Amazon products so customers can see when the price fluctuates. If customers want more detail, price trackers will allow users to analyze price trends closely. With an Amazon price tracker installed, customers have the opportunity to get the best price for the products they want, receive notifications when prices drop, and search for deals in real time. Additionally, price trackers monitor new items for sale and used ones from third-party sellers.
On the other hand, if you want to sell on Amazon, sellers require a pricing approach that is both flexible and responsive. This involves constant monitoring of competitors and market demand. A price tracker provides a solution by helping sellers keep frequent track of competitors’ pricing and sales and respond to pricing changes in real time.
For retailers, price trackers help sell more by setting reasonable consumer prices. It saves time by automatically analyzing the market and altering pricing levels, and it increases profits by indicating when and where to raise or lower a price. A price tracker also monitors competitors’ costs, stock, and margins.
Ultimately, a tracker saves sellers and buyers significant time scouring each product page or manually transferring data.
How to get alerts when a price drops on Amazon?
With Sugar, it’s easy to get alerts whenever a price drops on any product you’ve your eye on.
Once you have installed the Sugar extension in your browser, you can add a product to your wishlist. Sugar then begins tracking the product for significant price changes. When the price of an item in your watchlist falls below the threshold you specified, Sugar will send you a notification in your browser. For example, if the price is reduced by 15%, your browser will notify you, saving you 15% on your order.
Conclusion
Tracking Amazon prices helps customers and businesses make better, more informed decisions. Getting alerts on Amazon price drops prevents buyers from missing out on great deals. For sellers, a price tracker is a valuable tool to help monitor market demand and competitors. When selecting a price tracking tool, functionality and convenience make Sugar an excellent choice.
