A useful price alert starts with an exact product variant and the maximum delivered total you are willing to pay. Include tax, shipping, membership requirements, and currency conversion if relevant. Look at observed price history to avoid anchoring on a crossed-out list price.
Decide what you will do when the alert fires: buy immediately, check the seller, or wait for more evidence. Reconfirm stock, warranty region, returns, and the seller's identity before placing an order. For inexpensive items, the time spent monitoring may exceed the savings. Use a price alert for purchases where timing changes the decision, not as a reflex for every product you browse.