Amazon Price Trackers gather pricing data for products sold on Amazon in order to produce historical pricing charts, price alerts and other services aimed at both Amazon sellers researching their niche market as well as shoppers looking for deals & discounts.
Hourly Amazon Price Tracking
Most tracking services collect one or two price data points each day. However, the price for many products sold on Amazon fluctuate hourly. This makes it important to use an hourly price tracker in order to catch the big price drops that are often short-lived and save you more money on your shopping.
Here's an hourly price chart (sales data has been hidden) for Eric Ries' popular book, entitled The Lean Startup, showing how big price drops last for as little as an hour (Note: the saving on this single item would cover the cost of tracking prices on Amazon for a full month with RankTracer).
Historical Price Charts
Tracking changes in a product's pricing over time can reveal a lot of important information for retailers who need to understand their niche and how to be competitively priced in order to beat the competition.
Shoppers can also use historical prices to work out whether they are getting a good or bad deal.
Bloggers, reviewers and journalists can also share historical price charts with their readers as a quick way to back up their points with hard data.
Amazon retailers need to monitor the marketplace for each product they sell via the Amazon marketplace. This means knowing exactly when prices change. Setting up price change alerts (for both drops and increases) helps keep tabs on prices enabling you to react quickly to changes.
Shoppers can also use price change alerts to save time and effort monitoring products for discounts and deals.
Sales vs. Price Comparison
Tracking prices can be extremely powerful when combined with sales rank tracking to product comparison charts that help you quickly visualize the impact (if any) of changing prices on sales.
Being able to understand the relationship between price and sales performance is a vital part of becoming a successful online seller.
RankTracer gives you the power to monitor and chart both prices and sales for any product sold on Amazon. With fine-grained data (updated hourly) you are never more than a few minutes behind the real-time sales and price environments on Amazon.
You can start tracking products now for as little as $5 per month.
Price Tracking vs. Amazon Deals
Amazon does a great job of offering great deals and discounts on a wide range of products on a daily basis. With over 70 million products in their catalog it simply isn't possible for them to communicate each and every deal they have in an efficient way.
It's far easier to track products you want to buy and let the deals and discounts come to you in the form of a price drop alert from RankTracer. In this way you can control which products you want savings for without having to spend hours shopping online.