6 Essential Things You Need to Know About Amazon Repricer
Repricer software allows eCommerce merchants to automatically raise or lower their prices to beat their competition to win this profitable position.As Amazon sellers, we know there is a lot to do. First of all, you have to know your business and competitors. To stay in-game and compete with other sellers, you need to handle a lot of things. One of the hot topics here is the Amazon repricer.
Here are some main points and answers about repricing tools. There is no doubt that the selling price is the most important one. Adjusting the price for higher profit while competing for the Buy Box is the key to a profitable Amazon store.
Can you imagine yourself repricing your products and trying to monitor your competitors? Even with relatively few SKUs, it takes time to adjust and activate your selling price. You might fall behind in this crazy competition. At this point, you can get help from a repricer.
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What is an Amazon Repricer?
Repricer tools allow eCommerce merchants to automatically raise or lower their prices to beat their competition to win this profitable position. Repricing software enable you to price changes automatically and instantly throughout the day. The repricer does not sleep or get tired and works for your benefit all day.
Repricing is a delicate balancing act. You don’t want to cut into your profit margin with too cheap products or miss the Buy Box with overpriced products. Equally importantly, you would also want to make sure your listings adhere to Amazon’s high and rapidly changing standards.
Amazon might suppress your listings, if you are selling products cheaper on other marketplaces. Repricing software considers all these factors to ensure you set the optimal price to win the Buy-Box, while also maximizing profits.
How Does the Amazon Repricer Work?
Any Repricer software aims to change your prices dynamically to win Buy Box and make more sales. When a competitor changes a price on Amazon, the repricer gets a notification and moves to beat the new price. Don’t forget. A good repricer won’t take your selling price to the bottom to win the Buy Box. According to your repricer speed, your new price is calculated and updated to Amazon.
Amazon updates your current selling price after Amazon Pricing Error System checks out for the potential pricing errors. The repricer speeds may vary from 2 minutes or to 15 minutes, and even 30 minutes in some cases. The API provided by Amazon does not allow for real-time repricing.
Do All Amazon Sellers Benefit from Repricing Software?
The answer is absolutely yes! The main advantage of using a repricer tool is the automatic procedure to update prices for your Amazon listings. You do not have to check on all the SKUs’ selling price and manually change yours to outsmart the competition. It is an incredible time-saving tool to have regardless your store size. Sounds good, right? So, let’s say you want to give it a try. There are many repricers, how do you choose the right one?
Things You Need to Consider When It Comes to Decide
Successfully selling on Amazon depends on various factors, not just the price. An efficient repricer tool considers your sales levels, competition, inventory, fulfillment, and fees, just to mention a few. Therefore, the decision to use repricing software should be a strategic decision. Even more importantly, there are many repricing software options available on the market that have significant differences.
- Find out how they appeal to different types of Amazon sellers. Almost all of the repricers mainly focused on Amazon resellers. Private label stores and drop shippers may not find the best strategies to suit their business.
- Be careful about hidden fees. Repricer tools mainly have two types of pricing strategies: Listings-based or revenue-based. You would probably choose the revenue-based pricing option with different pricing tiers. However, you have to be careful with the extras. There might be extras for repricer speed or commissions.
- Pay attention to Listing Limits Listing limits might be an issue, mainly if you have over 5,000 SKUs listed on Amazon. Repricer tools may limit and apply different pricing tiers based on listings.
- Mind availability of Amazon marketplaces Bear in mind which marketplaces the repricer tool is available. Only a few repricer tools offer service across all 17 Amazon marketplaces.
- Look for a fast Repricer You want to have the fastest repricer on the market to be ahead of the competition all the time. Some repricer tools claim real-time pricing. It is not possible due to the API provided by Amazon. It is possible to update the pricing in two minutes. However, you must be careful about the offer you pay. Most of the repricers charge some extras for the speed you need.
- AI-based vs. Rule-based? Choose an AI-based repricer to avoid getting lost in so many rules. Selecting different rules for all of your SKUs is not an efficient way to handle your pricing. Also, it may not be obvious even for an experienced seller. Let the expert do the job for you.
Suppose you’re wondering what incredible repricer is capable of doing all this. In that case, the answer is right in front of you. Eva.guru can do all this, and so much more. We have multiple pricing tiers available for sellers of all sizes, from private labels with a few SKUs to high-volume sellers such as drop shippers. Plus, our free trial doesn’t require a credit card, and you can cancel at any time, no questions asked. Sign up now to get started with a 15-day free trial.