Amazon Competitor Price Tracking: Why It Matters and How to Automate It
The prices your competitors set are a useful indicator of where you should set your prices in order to align with your customer expectations while also making a tidy profit. That’s why, on Amazon, automated competitor price tracking is a game-changer. It provides you with real insights into the competition, so your pricing decisions remain data-driven and your selling strategy hassle-free.
The Importance of Price Tracking on Amazon
If you don’t monitor your competitors on Amazon for prices, what worked yesterday may not work today. That’s why Amazon competitor price tracking isn’t just a useful tool, but essential for building a successful strategy.
Whether your goal is to win the Buy Box, attract more customers, or boost your profit margins, having real-time insights into competitor pricing gives you an edge for your business.
What you want to achieve for your Amazon business is a price strategy that will help you scale but doesn’t take up a lot of your time. A strategy built on data, not simply setting a number that promises high returns and crossing your fingers hoping for the best. It’s about being flexible, staying informed, and ready to adjust your prices when it matters most. Tracking what your competitors are up to is a key element that enables you to do this.
How Competitor Pricing Affects Your Sales & Profitability
As the world’s most popular e-commerce platform, Amazon and the pricing competition taking place on it can be a very challenging environment for sellers. When your competitors lower their prices, you risk losing out on the Buy Box, directly impacting your conversions and sales. Lowering your prices too often just to keep up could potentially get you stuck in a price war on Amazon, where profits shrink fast. In other words, navigating your Amazon business through Amazon’s pricing dynamics can become a very delicate process.This is where dynamic pricing on Amazon becomes especially useful. With the right strategy, you can stay competitive without constant price cuts – maximizing your profit margins while boosting more sales.
Checklist: Manual Amazon Competitor Price Tracking
Tracking your competitors manually gives you full control over the process and is recommended for new sellers that are learning the ropes and do not have to monitor many products simultaneously yet. Here’s how to do it.
Step 1: Identify Your Competitors
Create a list containing the top sellers competing for the Buy Box on the ASINs you want to monitor. These are usually sellers who show up on the product detail page as “Other Sellers on Amazon” or are the default seller.
Step 2: Create a Tracking Sheet
Use Google Sheets or Excel to log the necessary competitor info: ASINs, current prices (including shipping), and date of tracking. Add columns for extra data like fulfillment method (FBA, FBM), seller rating or number of offers if relevant.
Step 3: Check Prices
Manually visit the product detail pages of your key ASINs and note the current Buy Box price and competing offers. Do this daily or every few days depending on how competitive your category is. Pay attention to price changes especially during peak seasons or promotions.
Step 4: Look for Patterns
Over time your spreadsheet will start to show patterns – like which sellers drop prices at certain times or how prices change based on inventory or reviews. This will help you make smarter pricing decisions without always racing to the bottom.
Bonus Tip: Use Browser Extensions
While this is a manual tactic, browser extensions like Keepa or CamelCamelCamel can help by showing historical price data on the product page. This gives you context to pricing trends without needing paid tools.
Manual vs. Automated Price Tracking: Pros & Cons
Manual Repricing: Full Control, No Costs
Pros:
Cons:
Automated Price Tracking: Using Amazon Repricing Software
Pros:
Cons:
Key Features to Look Out For
As a seller, you will want to choose the best Amazon price tracker for your business. At this point, it would make sense to invest your money into a repricing solution, since good repricers always include an advanced Amazon price monitoring tool.
Here are the key factors you’ll want to consider when looking for a repricer:
By choosing an Amazon repricing tool like the SELLERLOGIC Repricer, you can use all the above mentioned features to stay competitive, protect profit margins and automatically optimize your Amazon pricing strategy.
How to Automate Price Tracking and Repricing
Manually tracking and adjusting prices on Amazon can be really time-consuming and prone to errors. That’s where tools for automated Amazon price monitoring come in, enabling sellers to track Amazon prices automatically and optimize their pricing strategy without a lot of effort.
Should the price fluctuations and fierce competition become overwhelming at some point, relying on manual tracking alone can put your profits at risk. After a certain point, automation is vital when it comes to optimizing your Amazon pricing strategy and staying ahead in the game.
Now, the prize question, with all the software tools out there, who can you entrust to effortlessly carry out dynamic repricing for your business on Amazon? Thousands of international sellers put their trust in SELLERLOGIC to increase their Amazon sales and keep an eye on their competitor prices. The SELLERLOGIC Repricer not only offers advanced competitor tracking with a high number of ASINs and competitors, it also automatically adjusts your prices in real time, ensuring you remain competitive without constant manual intervention.
Wrapping Up
On Amazon, competitor price tracking is among the most essential tools you can possess as a seller. Whether you do it manually or with automation does not matter in the beginning. What matters is that you do it.
If you want to increase Amazon sales with price tracking and you choose to do so with an Amazon tool, be sure that this solution covers all the needs that your company has. Also the ones that go beyond competitor price tracking like great customer service, B2B coverage and analytics capabilities. It’s important to ensure the tool is flexible and scalable to adapt to your growing business needs, offering features that support more than just your need to optimize your Amazon pricing strategy.
FAQs
Manual tracking means regularly checking your competitors’ prices on Amazon by visiting product pages and logging details like price, shipping, and fulfillment method in a spreadsheet. It’s a hands-on method that gives you real-time insights into pricing patterns and helps you make smarter pricing decisions.
Once your product portfolio grows or price changes become too frequent to monitor manually, it’s time to consider automation. If you’re spending too much time updating spreadsheets or missing key pricing shifts, automated tools can help you stay competitive without burning hours every week.
Yes, especially for sellers managing a smaller number of ASINs. Manual tracking helps you understand competitor behavior, spot pricing trends, and test your own pricing strategies. It’s budget-friendly, builds pricing awareness, and can give you an edge – especially before investing in automated solutions.
Image credits in order of appearance: © Frank Gärtner – stock.adobe.com / © Kelly Sikkema – unsplash.com / © Vitaly Gariev – unsplash.com
