Camelcamelcamel is a special case of price monitoring.
This service, and the similar Keepa, require some advance planning. Built for Amazon shoppers exclusively, you’ll set a price alert for a particular product (presumably below the current price), and wait for news that your price is available. It also provides your item’s recent price history so you can intelligently set the price trigger in the first place.
If you’re planning a major purchase (or a minor one, for that matter) and you can wait indefinitely for the best deal, this service can pay off. I’ve saved money with camelcamelcamel as long as a year after first searching – to the point where I’d forgotten that I’d set a trigger. Come to think of it, this may not be a good thing after all.
In any case, you have to admit: the name is hard to forget.