What is the key to an effective repricing strategy?
At World First we work with many Amazon sellers, who sell internationally. They frequently tell us that adopting an effective repricing strategy is fundamental to becoming a successful seller on Amazon, though this is often easier said than done! Can anyone offer any tips on how to go about this?
Here is an article
Repricing software such as RepricerExpress essentially allows Amazon sellers to automatically compare their product prices to those of competitors’ and adjust them accordingly (within their own set upper and lower limits).
Sellers’ prices are so closely linked to their sales performance and product visibility on Amazon that they need to continually ensure their products are priced competitively—and doing this manually if you have hundreds or thousands of products, simply isn’t viable.
RepricerExpress offers a solution which will automatically review and adjust the prices of the seller’s products regularly to ensure they are well ranked and visible.
Sellers set the min and max prices they are willing to sell their products at so the software knows never to go below or above these limits. When Amazon sends a price notification change for any product, the repricing software will adjust yours where necessary with the goal to win the Buy Box or rank highly in search results.
With an increasing number of sellers using repricing software it is very much becoming an essential part of your ecommerce business rather than a nice tool to have.
In terms of repricing strategy, remember that repricing software is still only a tool and you’ll get the best results from it if you set your repricing rules to suit your overall business goals. It’s important your repricing software allows you to decide who you want to compete with and also who you don’t want to compete with.
Although there are many sellers on Amazon selling the same products, you can bet they are all quite different businesses, with different circumstances, goals and inventory lists— a modern repricing solution gives you the ability to set your repricing rules to sell your stock in the way you need to, at the price you’re prepared to sell at.
P.s. we offer a free 15-day trial