If you want to grow your Amazon selling business, sooner or later you’ll want to consider using a repricer. When starting from scratch, you need to know – which Amazon repricing software is best for you?
There are a range of pricing software solutions out there. They vary in price, quality, and basic features.
The two most common types are rule-based repricers and algorithmic repricers. With a rules-based repricer, you can set the rules for your competition. With an algorithmic repricer, you can let your repricing software compete entirely on your behalf.
We have compiled a list of the benefits an Amazon repricer will provide you.
1. React instantly and in real time
With pricing in place, you can react faster when competitors change their prices or run out of stock. If you plan to invest in a repricer, make sure it offers real-time repricing. Many repricers will delay up to an hour before the product reacts and reprices. This has been a long time coming in e-commerce - the opportunity may have passed.
Real-time pricing means you can take advantage of price changes instantly and always stay ahead of your competitors.
2. Win more buy boxes = get more sales
Automatically adjusting your prices to compete with your competitors can increase your chances of winning the Amazon Buy Box. That is the main benefit of a repricer. As many as 82% of Amazon sales occur through the Buy Box. Mobile shoppers, a rapidly growing population, are more influenced by the Buy Box because fewer alternative sellers are displayed there.
3. Increase sales and spend less time
Rest assured that your meter is working, so you don’t have to constantly spy on your competitors. Automatically adjusting prices within the range you define gives you the best chance of making each sale.
4. Compete on your own terms
Price is a key factor, but Amazon uses a complex algorithm to award the Buy Box. Other measures such as feedback ratings, seller ratings, customer support response times, delivery times and inventory levels are also taken into account. A solid pricing strategy should address a range of competitive situations. Setting your own rules with a rules-based repricer allows you to do just that and compete in a super granular way that you control.
5. Achieve the maximum possible profit
In some cases, a higher-priced product may win the Buy Box over a cheaper product, such as when your feedback score is higher than your competitors. The software should be repriced accordingly. You should be able to adjust your strategy to hit the highest price possible while still winning the all-important Buy Box.
6. Upload your products in bulk
Anything that saves time and gets the job done in the most efficient way is a winner. The ability to upload multiple SKUs is invaluable regardless of the size of your inventory, and you should also be able to deselect individual items with a single click if necessary.
7. Control your net profit
A common problem for sellers is knowing their true net profit after accounting for all selling costs. Selling fees, listing fees, VAT, shipping costs, the list goes on – the final sales price doesn’t always reflect your true profit. Advanced repricing tools allow you to enter your sales costs upfront and specify your desired profit, ensuring you make a profit on every sale and making your profits predictable.
Which Repricing Software is Best for You?
Choosing the right Amazon repricing software is a decision that should not be taken lightly. Don't be fooled by the "set it and forget it" approach some companies take. A repricer should take away the hassle of manually repricing your inventory and give you peace of mind that your pricing is always competitive. But at xSellco, we believe your repricer should also give you the flexibility to maintain control.
