People go online shopping for every product that caters to their daily needs. As a result, the eCommerce market has become a multi-billion dollar industry, and Amazon has the majority share of it.
A lot of sellers understand this and have joined the revolution by launching their own products on Amazon. There is a lot of competition for a single product. Where there used to be a handful of sellers peddling one product, now there are hundreds.
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Buyers take advantage of the fact by finding the cheapest products to shop for. This means that the sellers that used to sell their products at a high markup, can no longer make the same kind of profit by selling at the same price. They must provide competitive pricing on their products.
This could be a difficult decision for many sellers, when accounted that they have to pay a lot of fees for Amazon FBA or even if they are using FBM , they must pay their employees. The cost of this is accounted for the goods they are selling.
So, there is only so low they can bring their price before they start getting a price loss on a product. Pricing is tricky.
This is why you need expert tools for pricing your products. Camelcamelcamel x 3, or the Camelizer is the tool that can make all the difference between how you can source a product at the lowest possible price. Or if you are a buyer, simply buy a product at a heavily discounted price.
What is CamelCamelCamel?
CamelCamelCamel app will save you a lot of money whether you are a buyer or a shopper. The app has a lot of useful features which we will go through in the next segment. The major tools that a seller can use to validate product launch ideas on Amazon are the price watch feature.
It keeps a track of the historical price trends of a product and tells you when it is the best time to source the product. You can save hundreds of dollars buying with this tool.
The app is extremely simple to work with. If you want to start, you can simply enter the details to create an account with the site. The app is completely free, so you will be able to start working on the features right after the account is created.
You can enter the details of the product, or simply copy the product URL from Amazon in the Camel camel camel app and start tracking the price. Whenever the price of the product, let’s say a chocolate protein powder is below $30, it will alert you via email or on your RSS feed on twitter.
For buyers, this is something that can save a lot of money shopping online. You will be aware of the best deals and do not have to do painstaking research on a product.
If you are a seller, knowing what is going on in the market is imperative. You must always know the price trends of products that you are selling or planning to start selling. Let’s say, you are also selling a similar brand of chocolate protein powder. You should be aware when one of the popular brands is lowering their price. So, you can set the price of your product accordingly.
That way you are not outbid by competitor product, and your listing is sitting on page 18 of Amazon search results where no buyer will even pay the extra price to get your product.
Since pricing tends to change over time, you need to make sure that the price you set will help you maximize your sales. After all, we’re all here to make some profit, right?
But does that mean a seller can keep lowering product prices indefinitely? Some sellers keep on dropping off the price to increase the number of sales. Now, this strategy is definitely effective up to some extent. Amazon will still recognize your product to be high selling, which means your rank will improve in the search list.
Because whether you are making any money off of selling your product or not, you must be paying the fees to Amazon for referral, FBA, and membership. But this does not benefit the seller in any way. Why would anyone sell a huge portion of their inventory for a time, just to earn next to nothing or even incur a loss? You might get a lot of reviews, but you are still losing money. That makes this strategy unsustainable. This is why it is important to know two things when you are selling a product.
- What is the break-even price, or the lowest price to sell your product that will still earn you a sustainable income?
- What is the highest price point you can set that will still get your sales, instead of turning away customers?
Product price trends are extremely volatile. So, you should be aware of how you can maximize your profits. Camelcamelcamel extension or the app helps you make that decision. Because price drop alerts are basically there for you to look into the pricing strategy of your competitors.
Competitive pricing strategy is a method through which you set product prices that will still get buyers to purchase your product, and you will not have to incur any loss either. If a product price is trending, you can increase your price accordingly and make the best of the situation. If the product price is falling, you can hold on to your stock or slightly lower your prices to a sustainable level that will still make you money.
As of today, you can use the application for completely free. Just head on to the following link, create an account and you will be able to use some of the classic tools that come with a high price in other apps in the market.
Browser Add-ons (The Camelizer)
Camel camel camel extension is a quick way to use the tool. You can install the extension from any browser of your choice. The extension is known as the Camelizer and once you add it to your browser, you can use it while browsing Amazon.
Open any product page that you want to analyze and enable the extension by clicking on the Camelizer icon, you will be able to see the complete pricing chart for the product without ever leaving the product page. It is light and easy to use, does not take a lot of screens and presents the data as simply as possible.
The historical data trends will be able to tell you whether a product is seasonal or temporary based on the trends. A seller can use the data to figure out at this stage, so they do not launch a product that will not earn them a steady income. Because, if the calculations are based on summer, some products like sunscreens, beach towels, and sundresses can be extremely popular. Just like snow shovels and winter jackets will only trend during winters. However, if a seller launches these products they will not achieve as many sales on the other times of the year.
In Amazon, you can create a Wishlist with all the products that you want to track. You can monitor and track daily and historical price details.
You can simply create a Wishlist on Amazon and let Camelcamelcamel Amazon import the whole thing to create an individual price watch for each of the items in the list. The app will then set price tracking individually on each product.
Not bad for a free app, is it?
You can add products in the track section, and it will individually track the price fluctuations of these items. The reason why price rise and fall should be tracked religiously is important to understand.
Consider this, you are the exclusive seller of an avenger’s t-shirt for children aged below ten. Now there might be other sellers who have already established business with this product, or new sellers come along who track that this is a popular item and a lot of opportunities are there in making a profit out of this product. They may want to launch their brand of a similar t-shirt that could eat into your profits.
While that should not affect your business because your product is different from theirs, they can still eat into your market share. And when that happens you will slowly start to see a shift in sales numbers. Before long, some new seller has cornered market interest and your ranking goes down.
To make sure that does not happen, you need to be vigilant and know all of your competitors. Search for similar products that you are selling. If there are ten sellers, with ten different types of t-shirts. You should be tracking all of them to know which one is using price war as a means of getting sales.
Add all of them to the Amazon Wishlist. You can create a custom Wishlist for a type of product. Then copy the Wishlist URL and paste it in the box below in the camel app. When your tracked products reach a certain price drop you will receive notifications.
If you are not convinced that the Camelcamelcamel chrome extension is right for you, you can still use the app with the help of the Bookmarklet feature. Simply go to the website we have linked above and add the three camels on the bookmark bat.
With this one easy step, you will be set to use the Camelizer app at your convenience, any time you want. You can click on the bookmarklet and navigate to the app when you are browsing the product. Once you click the icon, the Camelcamelcamel page will open and it will automatically copy the URL of the product where you can set the price watch for the product and customize it to track any price you want.
Price Drop Alerts
This is the best feature of the app, and this is what we have been talking about for so long. There are no free apps that let you track product prices and gets you free notifications this accurately. You can drop products individually or a whole list that you have saved on Amazon. Either way, you can get the price from Amazon or any third party sellers which makes it easy when you are working on setting your own prices. The product sometimes will even let you know if the product is being sold a used version by a third party.
The key aspect to remember here is that in the last two there is no way of the app to show you what they are paying on the cost of FBA or other fees. If you are a professional seller, that cost will also not be accounted for in the price that you will see for this product. So, this is only based on the product price. Use that as a baseline when you are deciding your own product price, but do not forget to add the extra charges.
Many people have questioned, how the Camelizer provides all these useful features for free when there are so many other apps that will charge an arm and a leg to give you access to this kind of data analysis.
Camelcamelcamel API is as accurate as it gets when it comes to price tracking, yet it remains free to this data. What makes it different from the other app? Well, the beat is that when you track the price of a product through this app and buy it, the camel app gets a percentage of the product price in profit.
Many people use the tracking method in the site and then create an account with the other Amazon affiliates sites like the Kinja or Ebates, and then uses their moneyback deals to buy these same products. When they get the notification email from Amazon about the price drop, they head off to these sites. We suggest you, buyers, to support the Camelizer by buying the products from the links directly. There is not much difference in price, and the camel team can use the profits to make the app perform much more efficiently in the future.
Amazon Price History Charts
The price history chart is another useful feature. At a glance, the graph looks a little bit complicated to understand but remember that the data you are getting is no less accurate than the data you will get with the paid apps, albeit more polished. Once you start understanding the charts, you can extract all the necessary details with no difficulty at all. You can get the price history trend of the product to see if it is going in or out of demand, how it has been performing monthly and the sales rank of the product. The lower the sales rank, the more popular the product tends to get.
The Camelizer chrome extension will show you the charts while browsing on Amazon. And the data is continually refreshed so you get the latest details.
We use twitter on a daily basis. How many times do we refresh our tweet feed to check for updates? To stay updated on price drop alerts you can set up tweets so none of your notifications go missing and you can always stay on top of tracking your product.
Especially if you do not check email as frequently as you tweet, this feature is supremely useful for you.
Enter your twitter username and set a delivery option by public or private means. Through public, the camel app will drop you a tweet when the product price is at your desirable range. And the private method, the app will drop you a private message directly. You have to follow the twitter handle of the Camelizer app, the @CamelConcierge for the direct messaging to be working.
You can access the setting in the user profile section in the camel app. Enter your username and enable the alerts so you can begin tracking your products at all times. The app does not require your password or anything. So, get tracking!
If you are a seller who is starting out on Amazon selling it can be intimidating to access apps that charge hundreds of dollars in subscription fees. Amazon already charges a steep price for doing business, so you must be thinking of cutting costs everywhere possible. Camel app provides you the opportunity to access classic selling tools without having to pay a steep price for it.
The tool is simple to use and whether you are a buyer who likes to casually shop or an avid shopper who loves discounted rates on every product you can use this app. As a seller, this is a great tool to keep track of the prices your competitors are offering on products that you are also selling.
If you can overlook the aesthetics issue of the app – which we frankly think more than enough for any free app to offer – you will be able to effectively strategize your business. The tool works on every marketplace of Amazon which is another bonus, so no matter where you are doing business with Amazon, you have the option to have an upper hand on your competitors.
The cons of the tool are the lack of a good keyword research tool, but again, for that, you can access the free keyword planner from Google. So, this should not be a factor in using camel at all.
How does the price checking system work?
Once you add a product that you want to track in the app, the Camelizer will keep a track of the minimum and maximum price range that you have set for the product. Depending on how you have set the value when the minimum range is reached, or the maximum range is exceeded, you will get an alert. This way you know when the product is within your budget, or when your competitors are using price war to get a leverage in the market.
The notifications can be sent to you via tweets or emails. For receiving tweets, we have already explained the procedure in the article. When you create the account with the application you can automatically access the email notifications.
How can I create a "price watch"?
- Visit the Camelcamelcamel.com
- Browse the product
You can browse products individually or create an entire wish list of products. When you paste the URL of the product or wish list on the camel app, it will import the details and start tracking each product individually.
Most of the third-party software requires you to add the apps as admin on the central seller dashboard so it can access your data for various calculations. There is no need to provide any other access to the app related to your account, so you know your data is completely safe.
- Enter the minimum and maximum price
In the alerts section, you have many fields like the following: desired price, price difference, alert, etc. You can set a minimum and maximum price threshold for a product and when either of those limits is reached then the tool will show you all these details in the app.
- Set the notification methods for receiving the price alerts
Price alerts can be set to go to your twitter account by following the @CamelConcierge, and entering your tweeter username in the account alert details. Email notifications will be sent to the same email that you used to sign up for the app.
Once you have completed all the steps you can sit back and relax. When the desired price reached the camel app will keep you updated so you can consider changing your business strategy. Or if you are a buyer browsing Amazon for the best price, you can save hundreds of dollars by the price alerts.