Would you like to run a 100-meter sprint with one shoe or enter a bike race with a flat or burn tyre? Unless you are using the best repricers, that’s what you’re doing—giving your competitors an instant benefit.
Amazon repricers are not born equal at all. The best ones automate the process while taking complete advantage of the seller’s knowledge and experience.
In this post, we will explore rules and advanced features of repricing tools, and how to use them to make more profit on Amazon.
Must have features of the best Amazon repricing tools
- FBA and non-FBA
Define how much above or below other types of sellers you are willing to compete. FBA merchants can compete with other FBA sellers only and ignore non-FBA, or a price above them. Using rules, FBA sellers can increase the profit on each sale by pricing above the self-fulfilled, while still having a strong opportunity of winning the Buy Box because Amazon favours FBA.
- Net margin repricing
Net margin repricing helps in preventing you from selling products at a loss. Every single cost associated with a product can be entered into the repricer tool and used to calculate the minimum selling price automatically. Net Margin repricing helps and enables you to identify and eliminate unprofitable sales.
- Feedback ratings and percentages
Feedback score is the other way to compete. It is easy to find your seller rating and percentage, as well as that of other sellers. Feedback is a key differentiator for buyers in that it’s used to compare sellers and make profitable buying decisions. You can opt to compete with sellers in your range and rule out sellers you either can’t or don’t need to compete with.
- Competitor stock level
This is the choice for sellers to compete against people who are in stock or not. Program your Amazon repricer tool to price above the out-of-stock seller. For example, if your competitors go out of stock, then you can set a rule that automatically jumps some particular products up to the maximum price so you are assured to win the Buy Box at your greater price.
- Repricing scheduler
You won’t want every rule to be applied to a product all the time. You may, for example, want to only reprice certain SKUs below a certain level or sell them at some particular time, like weekdays or over the weekend. Set rules to take benefit of times with both high and low volumes of sales—and even do it while you sleep! Use your analytics to spot peak selling times and ensure that your pricing strategy is on point at the right time to increase your sales potential.
- Stock Age
Stock rules also apply to your old stock that’s taking up shelf space by encouraging the sale of stagnant inventory. Plug in the number of stock days to apply more aggressive pricing tactics after a particular period of time. For example, if you have had inventory for more than 50 days, you might want to drop the price of it.
- Specific merchants
This rule is crucial when it comes to beating your competitors —without them knowing! Whether it is due to the reason that they drive your prices down or jump on your listings, or they are one of the few real rivals in your niche, every seller will have a strong competitor that springs to mind.
You first paste the Merchant ID of any specific sellers you would like to include or ignore. You have to include one Merchant ID per line. To find the Merchant ID, go to the storefront of your competitor on Amazon and do copy the string of letters and numbers in front of “seller=” in the URL.
You must select the conditions that suit the particular ‘Repricing Rule’ and then click ‘Create Competitor Rule.’ Ultimately, these conditions enable you to sell to your strengths by targeting your competitors’ weaknesses.
- Price replication
Do you sell on other market platforms like eBay? If so, make a copy of your Amazon prices to your equivalent eBay listings. Opt to replicate them exactly or set them to be a percentage or value above the Amazon price. You should decide how this works on a product by product basis. Reproduce your Amazon prices on your website for price equality across channels.
- Domestic vs foreign
With keeping buyer preferences in mind, an effective and efficient Amazon repricing tool can be programmed to face overseas sellers and only compete and challenge with domestic traders. Opt to price higher than a foreign merchant. Many buyers are more willing to buy from a domestic seller so it can be worth pricing above international rival to get that more margin.
Want to see an advanced repricer in action?
Repricing tools have a list of Amazon repricers software available, enabling you to react instantly to changes in the digital marketplace and stand out ahead of your competitors.