Repricers – Are They Right For Your Business?
If you’re an Amazon seller you’re always looking for ways to run your business better, smarter, and more efficiently. Repricing software can be a real game changer and could potentially help you boost profits and save time and money.
What is a Repricer Anyway?
Repricer software does the heavy lifting for you when it comes to adjusting the prices of the products you sell. Amazon sellers may have to constantly adjust their pricing in order to win the highly prized Buy Box (the white box located to the top-right of Amazon product pages). That can be frustrating and time consuming for sellers, especially since price changes occur automatically and can fluctuate multiple times throughout the day. To determine which seller will win the Buy Box, Amazon uses an algorithm that takes a lot of data into account, including current market conditions, individual sales, pricing, inventory, fulfillment type, and customer feedback.
Of course, there’s a trick to repricing on your own. Too low, and you risk cutting into your profit margin. Too high, and you risk missing the Buy Box to sellers with more competitive prices. You also need to ensure that your listings adhere to all of Amazon’s seller standards and regulations.
While many people may be selling the same product, only one will win the Buy Box. Consumers tend to purchase items in the Buy Box without scrolling through other offers for the same product. Winning the Buy Box is always the best way for your product to stand out above the competition.
Repricing software not only works quickly and automatically to keep up with the constantly changing market, it’s highly intuitive and can adjust pricing in multiple scenarios. For example, a repricer can adjust the cost of an item when you’re running low on inventory, when a competitor runs out of stock, or throughout certain periods of the day to help you maximize profit.
Is a Repricer Right For My Business?
While every Amazon seller is unique, most can benefit from using a repricer, especially if you sell 50 or more items. Not only does this highly intuitive software save time and money, it can spare a seller from the frustration of trying to constantly stay on top of market conditions and competitors’ pricing for every product they sell.
Interested in trying out repricing software but not sure where to begin? Check out the companies that are currently integrated with InventoryLab’s software like BQool, Aura, SellerSnap, and Informed.co.