Amazon Price History: How to Check and Track Prices
Amazon Price History: How to Check and Track Prices
Most Amazon sellers focus on sales when they’re doing product research, but don’t overlook price when you’re trying to decide what items to sell. Offering products that are favorably priced is an important part of running a profitable business.
Tracking prices is also critical once you start selling. Your competitors will constantly be adjusting their pricing to try and gain an edge, so you need to be doing the same to keep up.
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Luckily, there are a number of ways to check and track Amazon price history, and we’ll go over those methods here.
What’s a Good Price for an Amazon Product?
Generally, products that are between $30 - $70 are best. This is because they’re priced high enough to provide you with good profits but low enough that people don’t have to think too hard before buying them.
Remember, just because a product has a good price now doesn’t mean that will always be the case. Prices regularly change, so you should always look at an item’s history to ensure the price will remain profitable for you throughout the year.
What Factors Cause Amazon Prices to Change?
Before going over how to track prices on Amazon, it’s important to understand what factors cause prices to move up and down.
Here are a few reasons the price of a product might change throughout the year:
Competition: When multiple sellers are competing for the buy box there’s a lot of pressure to have the lowest price. As a result, sellers might lower their price in order to win the buy box and generate more sales.
Demand: As a product becomes more popular people will be willing to pay a higher price for it. Sellers recognize this and bump up their prices as the demand increases.
Supply: If there’s a limited supply of a certain product it inherently makes it more valuable. So, sellers will usually increase their price if they know they have something that’s in short supply.
Time of Year: Some items sell better during certain times of the year. For example, pool toys sell better in the summer and snow shovels sell better during the winter. Sellers will raise the prices of their products when they’re in high demand and lower their prices when people are less likely to buy them.
These are just a few of the reasons prices might rise and fall. These changes happen regularly, sometimes daily, so it’s important to monitor the price of your products as much as possible.
How to Track Prices on Amazon
There are a number of apps you can use to track prices on Amazon. We’ve featured three tools here that will give you the pricing information you need to make an informed decision:
1. AMZScout PRO Extension
The AMZScout PRO Extension is a Google Chrome extension that allows you to see all sorts of in-depth insights on any product sold on Amazon’s website. With this tool you’ll be able to view an item’s:
Average monthly sales
Average monthly revenue
Average sales rank
Average number of reviews
Visibility score (indicates level of competition)
Niche score (indicates the profitability of the niche)
This all-encompassing tool provides you with everything you need to determine which items will make you the most money. It even has an FBA fees estimator that calculates your expenses.
Here’s how to use the PRO Extension to view a product’s price history:
Install the Pro Extension (available on a free trial).
Search for a product or niche on Amazon.com (or the marketplace site you plan to sell on, such as Canada, the UK, etc.).
When the results come up, click on the PRO Extension icon in the top right corner of your browser to open the tool.
All of the products that appeared in your search will now be listed in the PRO Extension, along with metrics like rank, price, FBA fees, net margin, estimated sales, reviews, and more.
Click on the arrow next to a product to open the dropdown menu.
Click “Product History.”
This will bring up a graph that displays the sales, rank, and price of the product over the last two years. The grey line indicates price. Move your mouse over the graph to see the exact price for a specific date.
Ideally, you want to find a product with a fairly consistent price. This tells you:
The price won’t drop by a large amount all of a sudden, which will hurt your profit margins.
The product isn’t too competitive, as lots of price fluctuations often mean merchants are fighting for the lowest price.
The item sells well all year round. If you notice the price drops during certain times of the year it’s probably a seasonal product.
It’s a good idea to review the price history of any item you’re thinking of selling on Amazon.
2. AMZScout Product Database
The AMZScout Product Database is a powerful search tool that helps you generate product ideas. It includes a number of filters, such as sales, reviews, price, weight, and more to help you narrow your search and look up items that meet your strict criteria. It also includes a price history feature for any product you find with the tool.
Here’s how to use the Product Database to view an item’s price history:
Enter your search criteria, including min/max sales, reviews, price, and weight.
Click “Find Products” to perform your search.
Review the results, and when you find a product you’re interested in click the chart icon underneath the price.
This chart will show you the item’s price and rank, with price represented by the yellow line. You can adjust the timeframe to one month, two months, one year, two years, or all-time.
For the most information, click “All-Time” to see the product’s price history over its entire lifespan. This will let you see how the price has changed year to year and if there are certain seasons that result in more sales.
3. AMZScout Product Tracker
One more tool you can use to view an item’s price history is the AMZScout Product Tracker. This widget lets you track the performance of up to 150 items. In addition to price you can also track:
Number of sellers
Use this tool to track the price of your own products and your competitors’ items. You can also spy on your competitors and see how much inventory they have remaining and how many sales they’re generating.
Here’s how to use the Product Tracker to view an item’s price history:
Enter the ASIN or URL of the product you want to track.
Click the “+” icon to add it to the tracker.
Click the chart icon to the left of the product to bring up the price history.
The graph measures price and sales, with the yellow line representing price. Like the Product Database, you can choose between timeframes of one month, two months, one year, two years, and all-time. Select longer timeframes for a more complete history of the item’s price.
Once your product has been added to the tracker it will be saved and you won’t have to enter it again. Check it regularly to get alerts about any pricing changes.
Other Indicators to Check
As we mentioned earlier, prices are impacted by a number of factors. Because of this, it’s a good idea to check other metrics that might affect your product. This will help you more accurately predict price fluctuations in the future.
Here are a few other indicators to keep your eyes on:
One of the best ways to measure demand is sales, which can be accessed via the PRO Extension.
You can see average sales for an entire niche or the sales for each individual product. An item that averages over 300 sales per month is considered to have high demand.
You should also look at the sales for a product over time. To do this, check out the niche and product history features, where you can see the sales history over the past two years. If sales are trending up that likely means demand is increasing.
A product’s Best Seller Rank is also an indication of demand. The higher the rank the more in demand an item is. Like sales, you can see a product’s rank within the PRO Extension and track it over time using the niche and product history features.
The PRO Extension has two ways for you to measure the competition of a niche.
The first is the Visibility Score. This measures how many other sellers have viewed the niche. Ideally, you want the score to be one, but a score of two or three isn’t bad either.
The second is the Niche Score, which includes a separate score for the competition level of the niche. It’s based on saturation, the number of sellers, the number of reviews, and the quality of the listings. Look for products with a competition score of seven or higher.
Checking an item’s price and sales history is the best way to see if it’s a seasonal product. You can do this by using the niche and product history features within the PRO Extension.
Look at an item’s history over the last two years and see if there’s a particular season where price and sales regularly drop. If this is the case then it means you’ll likely have to deal with fluctuating prices throughout the year. These types of products should usually be avoided.
Don’t overlook price when doing product research and monitoring your performance. By finding products that are optimally priced, and monitoring your competitors’ pricing, you’ll have a much better chance of making money on Amazon.