At the moment you can’t style / customise the template for the Price Drop notification email and it doesn’t even seem to show the logo of the site or anything. It also doesn’t include a call to action to purchase the product or anything like that.
This feature is basically unusable at the moment which is a shame as it would be a great marketing tool otherwise, but the presentation of the email really lets it down.
Open
Last updated: December 9, 2016
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If this email is a woocommerce core email then you can always template them in your /themes/woocommerce/emails directory