23 Mar Basics of Amazon Repricing: What is Amazon Repricing Software?

Amazon is an incredibly popular online shopping website, and as such it is a great platform for small businesses. It allows sellers to quickly set up shop and gain a considerable amount of exposure, as long as they play their cards right.

The biggest challenge is putting the right price on your products, as there will be a lot of competitors offering similar items. A potential buyer often has several great choices available to them when searching for a product, so it is incredibly important price your goods just right. A little to high and customers go somewhere else; a little too low and you won’t make enough money to make it worth your while.

The thing is that you’ll need to make price adjustments on a regular basis, and this can be a lot of work, unless, that is, you use automated repricing software. As the name suggests a repricer makes price adjustments for you, saving you a ton of work and making you a more competitive seller in the process. Let’s look at why repricing is so critical and how this type of software can help put you on the map.

1. Repricing is the key to making more profit

Being that it’s a huge marketplace, there are a lot of sellers offering the same or similar product on Amazon. As people don’t want to overpay for something, they are almost always looking for the most cost-effective options. Because of that, sellers put a lot of effort into pricing their items competitively, meaning that they constantly change the price of their product to stay close to what their competitors are offering. With a repricer, these often small adjustments can be performed automatically  and regularly, based on your input.   

However, this doesn’t mean that a repricer only lowers the prices; it also makes them higher depending on the demand for the product on the market. Lowering the price isn’t always the best strategy. Sure, you’ll make more sales, but you will be earning barely enough to stay afloat.  

2. Buy Box is the seller’s best friend

Unlike on some other platforms, where a search for a particular product will lead you to a list of different available sellers, Amazon focuses on the product itself and provides plenty of detailed information on it. The things listed on the page for a certain product include a picture, name of the product and the brand, average star rating and a list of its features, but there is also an option to add the product to your cart directly from this page.

The thing is, there can be a large number of sellers offering a specific product, but only one can be featured here. So, how does a seller go about  winning the coveted Buy Box? Well, when you become a Featured Merchant, you will become eligible to appear in the Buy Box. Listings that appear in the Buy Box are determined by various factors like seller rating and shipping time, but the landed price plays a huge role.

If you can keep your price just right, and you provide a great customer experience, you have a good chance of winning the Buy Box and staying a couple of steps ahead of the competition.  

3. The ins and outs of Amazon repricing software

Good repricing software analyzes the prices from other sellers, makes it possible for others to compete only with the desired sellers and it reacts immediately after some of the sellers change their offer. It is a complex piece of software that performs a very important task, so you need to be sure that you get a reliable and effective repricer.

If you haven’t used the software before or you are simply not satisfied with your current repricer, make sure you try a 14 day trial with the Seller Republic repricer, as it is one of the best and most user-friendly options for Amazon sellers – it’s web-based and runs on any web browser. Use the opportunity to try this repricer for free and see just how much of a difference it will make.

This repricer helps you win the Buy Box with a well-researched formula that adjusts itself based on Amazon algorithm changes. It also provides you with a number of different strategies to choose from, and gives you a better overview of your competition by providing valuable insights on the competitors’ stock numbers and product cost fluctuation.

4. Repricing manually vs automatically

You can choose whether you’ll do the repricing process manually or automatically, but repricing manually isn’t as effective as the automatic option. You might think that you will be able effectively track the price fluctuations, but the fact is that repricing happens in a second, and you might get lost in the whole process.

Moreover, if you have too many products, it would be really hard to track the prices of all those items, and reprice them all manually. As long as you make sure that you set your minimum and maximum price in an optimal range and plan a solid strategy, you can sit back and let your repricing software make you the seller of the year.

5. Myths on repricing software

Some sellers are fairly sceptical, and they don’t believe that a repricer will help them increase sales. One of the biggest myths is that repricing software can lower your price to 0. That is simply impossible, as it can only lower your price to the value you’ve decided upon. Moreover, repricing software won’t start repricing until you have set the minimum and maximum price for a particular item.

Another myth that surrounds this software is that it can be too expensive for what it does. Well, any good repricer will have a free trial period, so you can debunk that claim yourself without any risk. We’ve already covered the importance of getting your prices right, and without a repricer the whole process would take ages, which makes this type of software quite cost-effective in the long run.

Whether you are a small business or a big enterprise, repricing software is an investment that will ensure that you get to the top by beating your competition and increasing your sales rates. Before you buy an Amazon repricer, try out the free trial and see if it suits you.