Table of Contents
- What is a Price Tracker
- How Price Trackers Work
- Users of Price Trackers
- Benefits of Price Trackers
- Best Slickdeals Price Trackers and Alternatives
Every year, many people save up in anticipation of shopping deals. These deals offer huge discounts that enable buyers to get coveted products at a relatively low price. However, most buyers miss out on the best deals as they lack information on the big annual sales. Slickdeals price trackers notify the buyer’s on when and where to get good bargains.
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What is a Price Tracker
A price tracker is a tool or software that enables a user to monitor a product or service’s price changes. Most price trackers are free, and you only need to sign up to have an account from which you can operate. However, business owners wish to have a price tracker, especially if they are running a huge business or many chains. In such cases, the entrepreneur will need to pay an expert to create a price tracker for the business and add desired features.
How Price Trackers Work
By using artificial intelligence, price trackers can crawl to the different retailer websites and gather information about different products. Price trackers scrutinize a product’s image, reviews, price, stock, and other relevant information and store it in a database.
It then calculates the suggested price taking account of all the products, and organizes them to be understood by a user. It also creates a catalog for easy navigation through the shopping site. Tracking multiple products within a short time can be very difficult. Price trackers depend on the software that runs in consequent programming languages to help them run concurrent tasks.
Users of Price Trackers
Price is one of the critical factors that affect business operations as such businesses and consumers are the primary users of Price Trackers. Businesses use price trackers to update the prices of products as they change.
It gives them a competitive edge over their competitors and leverage on the profit margins. Price trackers also enable businesses to adjust to seasons in the market and improve on their weak areas. On the other hand, consumers use price trackers to be aware of the different market prices and take advantage of relatively cheap pricing to make some savings.
Benefits of Price Trackers
Businesses have a given range of how much service or product costs. However, the market may experience sudden changes, which an entrepreneur might miss if they do not use a price tracker. The use of price trackers is not confined to sellers only. It can be used by buyers and business analysts as well.
Market Performance knowledge
One way to know whether your business is growing or not is by analyzing the profit margins. Profit margins are dependent on the price of your goods.
Knowing your competitors’ price range will enable you to set the right prices for your services or commodities. A good price range for a commodity can win a customer from your competitors, which means more sales and more profit.
Keeping up With Competitors
Price trackers enable you to know the prices at which your competitors are selling their goods. I. the market, the demand for certain goods causes a surge in supply and price. Monitoring the selling price of your competitors’ commodities will allow you to be in tune with the market demands. It also helps you monitor the customers’ needs and satisfy the needs in good time.
Strategy for Improving a Business
Price trackers allow you to not only know the price of a given product but related products as well. In business, the price of one commodity may affect the price of another commodity. Product substitution is a good example. Or goods that are effective when used together.
There could be two different products in the market that can meet a similar need. For instance, a reduction in the supply or price of butter could increase the demand for margarine. It would be wise for the entrepreneur to stock related products or other complementary products in such a case. This method of price tracking can be used as a strategy to expand or improve the business.
Analyze Price History
Business, just like any venture, has low and high seasons. An entrepreneur who earnestly seeks to break even in the business industry must be aware of the seasons. Price history allows you to analyze your prices over time and the prices of your competitors as well.
It helps you determine the times when and why the prices of the products were good or bad. This way, an entrepreneur can make market predictions and prepare adequately. Good preparation will enable you to make excellent profits or avoid severe losses.
Saves Time and Money
Price tracking is also beneficial to a consumer. Most customers look for shopping outlets that offer quality goods for a reasonable amount. Price trackers allow the consumer to compare product prices of different online stalls and decide where to shop.
This way, they can save time if they were to manually and physically compare the prices from stall to stall. Price trackers have features that notify customers of deals and offers available in the market. If consumers take advantage of the offers, they can save on money.
Eliminates Human Error
Technological advancement has saved business companies the trouble of creating excel sheets to keep records of their competitors. These excel records were prone to mistakes that affected the accuracy of information. Price tracking has availed tools that ease business owners’ work and enable them to avoid errors that might cost them.
Best Slickdeals Price Trackers and Alternatives
The market has numerous price tracking tools. While they are useful and meet the desired need, some are extremely good, most preferred, and rank among the market’s best price trackers.
Slickdeals price tracker browser extension is known for creating up-to-date notifications about the latest deals, discounts, and coupon prices offered by different retailers worldwide.
The price tracker creates a price history for you because you started tracking a commodity’s price to the current date. You set an expected price threshold, and the Slickdeals price tracker notifies you to incase the price falls below the threshold.
Additionally, you can view all your tracked products simultaneously as they are all displayed on the screen. Whereas Slickdeals Price tracker browser extension has useful price tracking features and services, other alternatives offer similar or better services.
This tracker allows you to track prices on e-commerce platforms such as amazon and also get a discount. It shows you the history of prices, fluctuating prices of third-party sellers, and the change in the price of a product on Amazon.
They offer a free account sign up, and a user has the choice to set notifications about product prices via email. The site uses five languages allowing the user to set up the account in their most preferred language. However, CamelCamelCamel is limited to some areas of the world.
This price tracker compares prices over several retail businesses. This particular price tracker enables you to create a droplist, and if a product in your list reduces in price, then honey notifies you. It also automatically applies promo codes to your card, allowing you to get discounts for products. The price tracker offers shopping points that can be used to acquire a product from their specified retailer. Honey is available in multiple search engines such as Chrome, Firefox, Edge, Opera, etc.
Pricegrabber is a shopping site that compares prices of different products from different retailers. It is a free application for iPhone users and has also introduced an application for android users. The site has product reviews about products from previous consumers. This way, a customer cannot see the price and client feedback and make an informed decision about a purchase.
This price tracker is especially useful if an individual wants to conduct their shopping on Amazon. Wikibuy is useful in providing a notification every time a search product is found to be cheaper on a different site. It also provides information on the taxes, time of delivery, the pricing history of the product and the shipping price. If you are using Edge, Chrome, Safari or Firefox, you will have access to the Wikibuy extension.
The advantage of using Wikibuy is that an individual will always receive updates and notifications in case of price drops. You can also earn credits from Wikibuy partners like eBay, which you can use for purchases.
Slickdeals price tracker browser extension has had good reviews over time. Consumers and business owners should take advantage of their benefits to get reasonable product prices and spy on business competitors. This article highlights some of the best alternatives you can use instead of Slickdeals.
Thanks for sharing a wonderful comparison with us. This is a great article to see all comparison with price tracking. Wispri is also the best platform that provides you an SMS alert when the price goes down