Set a realistic desired price using Price Drop Helpers

2nd March 2018

Anticipating the price an Amazon product may drop to needs to be realistic, else your Price Spy may never turn into a price alert. Setting it too low could mean you miss out on a good deal. At least if it's a sensible amount, and you get alerted, you can then make the decision to buy, or not.

This is where Price Drop Helpers can really... help you out.

About Price Drop Helpers

When setting up a Price Spy for an Amazon product, you need to come up with a price that it'll hopefully drop to, therefore notifying you via a price alert. Underneath where you set this desired price, you'll notice some buttons with a selection of predetermined prices. The image below demonstrates this:

Price Drop Helpers

On clicking one of these options, it'll set your desired price to that value.

The options explained

  • Lower - this is simply 0.01 off the current price. Basically you'd get an alert if the product drops in price by any amount. Useful if you want a price alert based on any reduction in price.
  • 3%, 5%, 7% or 10% off - this has removed the specified percentage off the current price. Helpful to quickly see how much something would be with a common percentage off.

Of course, you can enter any desired price you like (you can even go higher than the current amount!) - so those are just there to help you quickly choose an amount.

A realistic desired amount

Factors, such as how quickly you want the product, or what you personally feel is a good price for the product, will influence your desired price.

  • If you are going to be buying the product in the next week or so, and are looking for any kind of discount, then selecting the 'Lower' option is a good bet.
  • As far as percentages off go, selecting around 5% is a reasonable sum to take off it's current price and still expect to receive an alert at some point.

Conclusion - go slightly higher

I'd say it's safer to set a slightly higher desired price and have more chance of receiving an alert. If you recieve the alert and it's just matched your desired price, you can always update the Price Spy with a lower value. On the other hand, if it's dropped to significantly lower than your original desired price, you'll have made a great saving!

If you set an unrealistic price, a product may drop close to it, but if it doesn't match it or go lower, you'll never know if it even got near that low.