Selling on Amazon is a big business. Around half of Amazon sellers bring in between $1,000 and $25,000 per month in sales.
With more than two million third-party sellers on Amazon, there are opportunities for customers to get the best competitive pricing. Use these tools to check product price history to help you get the best deal.
Why Do Prices Change?
The sales range for Amazon sellers is ginormous. But sellers have little choice in the matter partly due to price fluctuations.
Amazon uses a complex algorithm to adjust the pricing of the products on its website. This sophisticated pricing calculation is always changing especially if the product is in heavy demand.
The algorithm monitors pricing both on Amazon is site and that of its competitors. The result of constant algorithmically enabled monitoring is a pricing war that can force consumers into unfair deals.
One minute you are placing a LEGO set in your shopping cart for $50 and, in as little as 20 minutes, the price doubles. The purpose of the pricing algorithm is to keep up with market rates for each product.
The system is far from perfect but gives Amazon a way to level the playing field. With computer algorithms, however, there are always loopholes.
Just as the numbers go up, they also come down. Pricing can drop well below market rates on Amazon giving you access to amazing discounts.
Using a product price history checker can help you find the best deals without spending hours each day refreshing deals on your phone. Here are some of the top tools for price history checking.
Every shopper who frequents Amazon should know about the CamelCamelCamel tracking tool. It is very easy to overlook because of the poor user interface.
Once you get the hang of how to use its tools, you will be glad you did. The site offers an extension tool for Firefox and Chrome so you can use the tool while browsing Amazon.
You can also use the site to do price research by copying and pasting the link to the Amazon product. The search results show whether the product has gone up or down over time.
This tool is extremely valuable because it offers comparisons between all sellers. CamelCamelCamel includes both third-party sellers and products fulfilled by Amazon.
You can then perform comparisons between third party sellers offering new and used items. Create a free profile to get price alerts by email.
The email alerts can be set up to notify you when the price drops below a certain threshold. Alerts include a summary of price history which helps to give you an idea of the best time to buy.
Honey is not a price checker for just Amazon. The web browser extension allows you to track prices from a wide range of retailers.
Create a Droplist of the items you want to track. When an item on the list drops, you get a notification.
Honey also searches the web for valid promo codes and adds them to your account. When you go shopping on the participating retailer’s site, the promo code is automatically added during checkout.
The tracker offers a percentage back on purchases with select retailers through its Honey Gold program. The Honey extension is compatible with most web browsers.
Unlike the other price trackers, SlickDeals does not offer comprehensive price history. Instead, you create an alert and the price checker begins tracking the cost of the item from that moment forward.
SlickDeals is more of a coupon and flash deals site for people looking for ways to save. There is the option to add email alerts if a price drops below a certain threshold.
Set up a free account to see a complete list of all the items you are currently tracking. Inside your SlickDeals profile, you can modify your price tracking list to remove items or add new items you want to track.
Offered by Capital One Credit Card, Wikibuy is an Amazon price tracker that shows you real-time cost comparisons. Each time you look at a new product on Amazon, WikiBuy shows you prices at other retailers.
This extension offers details pricing history on each item to help you know the best time to buy. It also gives delivery information and the item’s total cost after tax.
WikiBuy has a partnership with eBay and Walmart that allows shoppers to earn credits. Trade the credits for gift cards or to make a purchase through the WikiBuy website.
The iOS companion app tracks prices while you are shopping in stores. Scan the barcode of the item you want to track to get its price history and compare pricing online.
Another no-frills price tracking service is Invisible Hand. The price tracker works while you shop to show you if the item you are looking at is available cheaper somewhere else.
The web extension automatically applies coupons it finds across the web. The tool gets its name because it remains invisible until it finds a potential deal for you.
Until then, it remains in the background scanning for the lowest real-time price. It also helps find cheap airline tickets when you search for flights.
Lowest Product Price History
Product price history is a great way to plan for the best possible deal. There are many cost comparison sites out there but many of them do not offer real-time information.
Choose one of the best price history tools to give you a full picture of how a product performs over time. With so many e-commerce options available, shoppers are sure to find competitive deals if they are willing to be patient.
For more information or ways to save online, check our blog for updates.