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Category: Amazon Price Tracking

Top Two Tools and Extensions for Amazon Price Tracking

Amazon Price Tracking

In the vast world of online shopping, finding genuine deals can sometimes be daunting. With the emergence of various events and seasons, tracking prices on Amazon is crucial to ensure you're getting the best possible deal. Fortunately, reliable Amazon price tracking tools can take the guesswork out of deal hunting. Two highly recommended tools in this regard are Honey and CamelCamelCamel.

Both Honey and CamelCamelCamel offer browser extensions for seamless integration into your online shopping experience. Additionally, they provide websites that offer extended functionality, such as managing your droplists and exploring price history directly. These tools are compatible with multiple browsers, ensuring accessibility and convenience for users.

In this article, we will also explore the best Amazon price-tracking services. Let’s dive in!

Honey: The Versatile Amazon Price Tracking Tool

Honey is a versatile Amazon price tracking tool that comes in the form of a browser extension. Its main goal is to simplify the process of finding the best prices while shopping online. One of the standout features of Honey is its ability to compare prices among different retailers, including Amazon. This ensures that you are always aware of the best available deals across various platforms.

Features of Honey:

Another valuable feature of Honey is the creation of droplists. With drop lists, you can add items that you're interested in purchasing and receive notifications when their prices drop. This eliminates the need for manual checking and allows you to seize the opportunity when a deal arises.

Additionally, Honey enables you to track the price history of items, which is especially helpful in verifying the authenticity of discounts. By examining the price trends over time, you can make more informed decisions about when to make your purchase.

Step-By-Step Guide to Using Honey:

To start using Honey, you simply need to install the browser extension. Once installed, you can easily add items to your drop lists with just a few clicks. Honey also provides a user-friendly interface where you can explore the price history of your tracked items and compare prices from different retailers. This saves you the hassle of manually searching for the best prices and streamlines your online shopping experience.

Additional Features Of Honey:

Apart from its core Amazon price tracking functionalities, Honey offers additional features to enhance your savings. For instance, it automatically applies coupon codes at checkout, ensuring that you're getting the maximum discount available.

This eliminates the need to search for coupon codes individually before making your purchase. Moreover, Honey provides a website where you can manage your droplists, review past purchases, and access other useful tools and features.

CamelCamelCamel: The Comprehensive Price History Tracker

CamelCamelCamel is a comprehensive price history Amazon price tracking tool that specializes in providing a detailed overview of prices on Amazon. To access its features, users can install the CamelCamelCamel browser extension, known as The Camilizer. This extension offers a seamless way to track and analyze price trends while browsing Amazon.

Key Features Of Camelcamelcamel:

One of the standout features of CamelCamelCamel is its ability to present a complete price history of Amazon items, including information about pricing for used items. By offering a comprehensive view of past prices, users gain valuable insights into the fluctuation of prices over time. This historical data allows for a deeper understanding of pricing trends and helps users make informed purchasing decisions.

CamelCamelCamel also enables users to set desired prices for specific items and receive notifications when the price drops to the desired level. This feature ensures that users never miss out on a deal and allows them to wait for the price to reach their desired threshold before making a purchase.

Utilizing CamelCamelCamel Effectively:

To utilize CamelCamelCamel effectively, users can install the browser extension or use it as a bookmarklet, which can be added just above the bookmark bar. This allows easy access from the Amazon product page to CamelCamelCamel with a single click. Once accessed, users can explore the price history of an item, analyze trends, and compare current prices to historical lows or highs.

Camelcamelcamel's Additional Functionality And Product Search:

CamelCamelCamel provides a website that offers extended functionality beyond the browser extension. Users can visit the website to access additional tools and features, such as managing price alerts, searching for other Amazon products, and further exploring the price history of items.

Amazon Price Tracking from Vserve

Your goal as a vendor will be to outperform your competitors and gain more attention. Vserve's competitive price tracking service is an important tool in this regard. They closely monitor your competitors' prices across all channels to assist you in repricing your things. Their specialists can assist you in attaining a higher ranking in Amazon's listings and increase your chances of making more money.

Enhance Your Amazon Competitor Price Monitoring

Vserve's Amazon competitor pricing tracking services are designed to enhance the number of clients you can acquire at a low cost. They are in charge of tracking your purchases and related products on Amazon and the Internet. They can provide a list of available products and their pricing and a list of your competitors' costs. Their price tracking service will show you the price range and average price of products that are the same or similar to what you're offering.

Vserve Competitor Price Tracking Services and Expertise

Insights on Product Level Pricing

Vserve competitor price tracking on Amazon offers a comprehensive one-on-one comparison of your competitor's product pricing to yours.

Monitoring Pricing History

Get a detailed look at your competitors' pricing strategies over time. They can help you spot patterns in your competitors' pricing activity. This will provide deep insights into how to reprice your product and make well-informed pricing decisions dynamically.

Vserve's Amazon price tracking specialist will also examine the minimum and maximum price levels that can be calculated. As a result, you can avoid avoidable losses while also impressing your customers with affordable prices.

Market Price Monitoring

Every brand manufacturer will strive to keep product prices consistent across all channels. However, some suppliers deviate from their agreement and change the pricing above the intended scale.

Vserve, as an integrated service, accepts the challenge of preventing such infractions. Their crew constantly checks your registered sellers' prices and alerts you of any significant price adjustments.

Delivery and Storage Fee Analysis

The cost of proper storage and fulfillment affects the price of your product. You cannot afford the freedom of storage and fulfillment as a merchant. Their specialists will assist you in developing appropriate storage and fulfillment procedures.

Establishing Offer/Promotional Prices

Seasonal discounts and offers are necessary to meet client expectations. However, these complimentary price cuts must not result in losses. Their competition price tracking tools use top analysts to determine the appropriate offer/promotional prices. As a result, they benefit from making the correct margin and persuading customers.

Maintaining Brand’s Value

Any pricing plan should not have an impact on your brand's worth. Setting your prices too low will harm your brand, while pricing too high will hurt your sales results. They progressed in their approach to balancing product prices and brand value. Vserve ensures a profitable profit for the seller and a reasonable price for the buyer.

Conclusion

In conclusion, Amazon price tracking is crucial to ensure you get the best deal possible. Fortunately, two highly recommended Amazon price tracking tools are Honey and CamelCamelCamel. Amazon price tracking experts like Vserve are also here for you.

Vserve competition Amazon price tracking service pays close attention to your competitors' pricing on all channels so that we can help you with repricing your items. Our experts can help you get a higher position in Amazon's listings and improve your chances of getting higher revenue.

This blog is inspired by the video: "How to Track Prices on Amazon | The Best Price Tracking Tools and Extensions" by "Tasia Custode."

Top 7 Reasons to Outsource Amazon Price Tracking Services in 2020

Top 7 Reasons To Outsource Amazon Price Tracking Services In 2020

Price matters on Amazon!

Maintaining competitive pricing on Amazon is the key to win both the buy box and your customers. But, there is a fine line between staying competitive and losing your profit margin. A smart Amazon pricing strategy should have the right balance of maximizing your profits and selling steadily in the marketplace. Here is where monitoring your competitor’s pricing is essential, as it plays a crucial role in shaping your pricing strategy.

What is Amazon Price Tracking?

Amazon price tracking is the method of monitoring and analyzing competitors and market price trends to optimize your pricing strategy. It is either done manually or using an automated competitor price tracking tool.

Amazon Price Tracking Comparison

Why Do I Need to Track Competitor Pricing on Amazon?

As we explained, setting your pricing strategy with detailed market insights has a competitive advantage and improved sales performance. To define further an effective pricing strategy is essential –

To win the Buy Box

Stats prove that 82% of Amazon sales happen through the Buy Box

Amazon’s “Buy Box” algorithm focuses on adding value to its customers by evaluating the right seller for every purchase based on a series of metrics. And, pricing is one of the predominant factors to win the “Buy Box”. To gain this opportunity, an Amazon seller should consistently monitor the market prices and dynamically reprice the product to stay on top competitors.

Amazon Buy Box

To Win your Customers

 90% of shoppers will head to Amazon and search for the same product, even after finding their product on another website.

It’s because Amazon is known for its competitive pricing, speed-to-light shipping, and reliable customer service. Customers are more likely to purchase the same product on Amazon than with other online retailers when they have a prime membership.

That is why Amazon has made pricing as an influencing factor to rank on top of its search results and appreciate sellers following a competitive pricing strategy.

Now, if you ask, whether you have to develop an in-house Amazon Price Tracking Solution or Outsource it?

Here’s what we would recommend –

Competitor price tracking not only means continually checking on your competitor and pricing your product lower than theirs. But about achieving greater profitability through the effective use of competitor’s data, which makes it time and resource-intensive with a need for expert support.

So we suggest, it’s best to leave the job to an expert. This helps you get back the time and resources needed to focus on your customers.

Let’s look further on reasons to outsource Amazon price tracking services –

Manual Price Tracking on Amazon is Time Consuming:

Amazon sellers who have dabbed in manual competitor price tracking knows it is essential to make analytics based on the vast datasets acquired. Especially when you want to manage thousands of SKUs, it is a daunting task to manage the prices of those SKUs while monitoring their competitors as well.

And with dozens of prices changing dozens of times per day on Amazon, retailers would be remiss to try and control everything manually in-house. A pricing specialist can make sure that you have a complete and accurate set of data, acquired faster, and accessible as and when needed.

Automated Price Tracking is not a Stand-Alone Solution:

Nowadays, automated Amazon price tracking tools are trending in the online market. The tool automatically identifies all your competitor prices for your product and updates your price as per the predefined rules assigned to it. Sellers find it useful to integrate the tool with their Amazon seller account. Still, there are reasons why it cannot be a stand-alone solution for price monitoring.

Not every competitor price tracking tool can be compatible with your Amazon seller account. You need expert support to identify the right tool that best fits your business on Amazon and manage it. Moreover, you need the right skills to understand the algorithm and feed the correct data, as any minor error can result in inaccurate pricing.

Outsourcing can help Save Cost upto 40%

Automated price monitoring tools are expensive and besides hiring an expert, setting up the infrastructure, and training your employees can crunch your margin. Outsourcing competitor price tracking can provide the same quality output but at an affordable cost. Expert Price monitoring partners can offer a complete solution, including the tools and infrastructure needed to provide the service. You only have to pay for the projects and the hours worked.

You can Gain Access to Extensive Analysis and Insights

The purpose of competitor price tracking is to set your price for profitability by capturing more value and sales. An outsourced team can provide a detailed and timely report on competitor pricing details beyond the product level. They can provide information on competitor pricing trends, Amazon price history tracking, and detailed analysis of the marketplace. This information can help you to make well-informed marketing decisions and stay ahead of your competitors.

You can Focus on your Customers:

And, let your outsourcing partners take care of your competitors. Outsourcing allows you to pay attention to the critical decisions facing your customers instead of getting data. A third-party offering should enable you to quickly analyze and visualize market data. So, you can focus on devising marketing and sales strategies instead of juggling with data analytics.

Outsourcing can Ensure Data Accuracy.

An automated price monitoring system can be a real time-saver. But data accuracy can be at stake, especially with extensive product volume input. With tools, it is practically not possible to ensure a 100% match of your product data with that of your competitors. Because not every product specification and SKU detail will automatically match with that of your competitors. That’s when it’s essential to have an integrated price monitoring approach.

With a combination of cutting-edge AI technology and human expertise, Vserve’s Amazon competitive intelligence solution ensures you receive the benefits of both the methods. Our price monitoring experts can manually complete the data search for the missed product matches to ensure results with improved data accuracy in quick turnaround time.

Maximize your Revenue by Optimizing your Pricing Strategy with Vserve Amazon Price Tracking Services:

At Vserve, we deliver a wide gamut of Amazon price tracking and repricing services. We consistently observe your competitor pricing and product details, their pricing history, competitive ranking to provide timely reports and alert notification to make better pricing decisions. Our services are designed for global clients in increasing their opportunity to rank higher on Amazon; magnetize customers and drive more revenue to their business.

 

Related contents to read:

How Amazon Store Re-Pricing Tools Can Maximize Your Profits

Top 3 Ways to Improve your Amazon Listing to Sell More