February 8, 2019
If you’re interested in increasing your chances of winning the coveted Amazon Buy Box, along with increasing your profits, then keep reading. BQool is here to explain the benefits of using Repricing Software.
Amazon Repricing is the process of amending product prices on the Amazon marketplace. Prices are frequently changed based on factors such as competition and Buy Box ownership.
For each listing, there will often be many sellers competing for the sale. Sellers who aren't competitively priced are unlikely to win the Buy Box or make the sale. However, with so many products and sellers out there, the process of manually checking prices can become tedious and time-consuming.
Pricing competitively 24/7 is made easy if you utilize an Amazon Repricer. You should always consider the fulfillment type, seller feedback and feedback score when deciding on your pricing strategy and how you want to compete.
The key to increasing sales and profits is automating the prices of your Amazon products. If you have more than a handful of SKUs, an Amazon Repricer will certainly help you to stay ahead of your competitors.
Here are some of the main benefits of using an Amazon Repricer.
Your reaction time is too slow when you're manually repricing products - fact! Another factor to consider is how you're going to plan your repricing strategy when you take a holiday, you wouldn't seriously want to start repricing while you're out soaking up the sun, would you? A Repricer will take care of these issues in real time.
Could you think of every factor needed to make the smartest repricing decision immediately? It's difficult to think outside of the box when you have been put on the spot. A Repricer will take all the required factors into consideration and will then apply them as and when necessary.
People can become emotionally involved when it comes to buying and selling. When stock dips, they become worried and sell before they think it will drop any lower. But buying low and selling high is the approach taken by people who do not allow emotion to get in the way of business.
A decent Amazon Repricer works in a similar way by making buying and selling an objective process instead of an emotional one. You might get angry when a competitor ‘steals’ your sale by undercutting you, but a Repricer won't. It uses an algorithm or set rules to keep a check on your competitors and will protect you from making potentially damaging or risky business decisions.
You should try to minimize the amount of time and money spent on repricing as much as you possibly can. To put it simply, manually repricing dozens, hundreds or thousands of products is a huge waste of time, labor, and money when a piece of software (that doesn’t need to be paid a salary or benefits) can do it for you instead.
The great thing about software is that it does what you tell it to do, it's that simple. It won’t make mistakes because it went out the night before or because it's hungry.
You could put a mathematical genius in charge of repricing and be pretty sure that they won’t make a mistake, but the odds are even better with a Repricer taking care of business.
Prices on Amazon can change as quickly as several times per hour. Imagine dedicating man-hours to manually repricing all your products at this rate. By using a Repricer, you can focus your attention elsewhere, safe in the knowledge that the Repricer is working away in the background to keep you competitive.