If you want to grow your Amazon business, you’ll consider using a repricer sooner or later. When the head-scratching is over, you’ll need to know – which Amazon repricing software is the best for you?
There’s an array of repricing software solutions out there. They vary in price, quality and basic functionality.
The two most common types are rules-based repricers and algorithmic repricers. With rules-based repricers, you set the rules for how you compete. With algorithmic repricers, you let the repricing software wholly compete on your behalf.
We’ve compiled a list of the benefits an Amazon repricer will offer you.
1. React instantly – in real-time
Repricing lets you react quickly when a competitor changes their price or runs out of stock. If you’re going to invest in a repricer, make sure it offers real-time repricing. Many repricers have delays of up to an hour before a product reacts and reprices. This is a long time in ecommerce – the opportunity may have already passed you by.
Real-time repricing means you take instant advantage of price changes and always stay one step ahead of your competitors.
2. Win more Buy Box
Automatically adjusting your prices to compete with rival sellers increases your chance of winning the Amazon Buy Box. That’s the main benefit of a repricer. As much as 82% of all Amazon sales go through the Buy Box. Mobile shoppers, who are a fast-growing population, are even more influenced by the Buy Box because fewer alternative sellers are displayed there.
3. More sales
Rest assured that your repricer is doing the work so you don’t have to constantly monitor your competitors. Automatically adjusting your prices, within the range you define, gives you the best possible chance to sell every time.
4. Compete on your own terms
While price is a crucial factor, Amazon uses a sophisticated algorithm to award the Buy Box. Other measures like feedback score, seller rating, customer support response times, delivery times and stock levels are also taken into account.
A solid repricing strategy should react to a range of competitive scenarios. Setting your own rules with a rules-based repricer allows you to do that and compete in a super-granular way you control.
5. Achieve the best possible profit
In some cases, higher-priced products can win the Buy Box over cheaper ones, like when you have a better feedback score than your rival. The software should reprice up and down depending on the situation. You should be able to tweak your strategy to achieve the highest price and still win the all-important Buy Box.
6. Bulk upload your products
Anything that saves time and gets the job done the most efficient way is a winner. Regardless of the size of your inventory, the ability to upload multiple SKUs is invaluable, you should also have the capacity to deselect individual items with a single click if required.
7. Control your net margin
A common problem for sellers is knowing their true net margin after all selling costs are taken into account. Sales charges, listings fees, VAT, shipping costs, the list goes on – final sale price doesn’t always reflect your true margin. Advanced repricers allow you to input your selling costs and specify your desired margin in advance, ensuring you profit from each and every sale and can predict your margins.
Which repricing software is the best for you?
Choosing the right repricing software is a decision that shouldn’t be taken lightly. Don’t be fooled by the ‘set it and forget it’ approach that some companies take. A repricer should remove the hassle of manually repricing inventory and give you peace of mind that your pricing is always competitive.
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