Although special prices and discounts encourage customers to buy from you, they might still need a little "push" before making a decision. So, to dispel all doubts customers might have about the sale, you can enable price tracking in Magento 2.
Moreover, if you want to sell in Europe, you are required to do that by the EU Omnibus Directive. This requires you to show the lowest price of a product over a certain period of time.
If you want to be transparent about price changes in your store, you've landed on the right page.
Today, you'll learn how to enable price tracking in Magento 2 with the Magento 2 Price History Extension.
To enable price tracking in Magento 2:
1. Navigate to Stores > Configuration > Magefan Extensions > Price Tracker and enable the extension.
2. Select what pages to Display The Lowest Price On.
3. Choose whether to Display lowest price Only For Discounted Products or all products in your catalog.
3. Specify the period for price tracking in the Lowest Price For (days) field.
5. Define how long to store the price history in the Price History Lifetime (days) field. Once this time expires, the price history will be cleared.
Don't forget to Save the settings and go to any product (discounted or not) and change the price. The changes you make should then appear in the Magefan > Price Tracker grid.
You can use filters to find the records you need quicker or delete irrelevant data.
Additionally, you can go to the product page to check how the lowest price is displayed.
Price tracking in Magento helps you to monitor your price changes better regardless of how they were applied, special price, cart price rule, product import, customer group pricing, etc. And it benefits your customers too. They can see the lowest price over a certain period and be sure the discounts you provide are real.