Amazon sellers are well-aware that repricers help increase the Amazon Buy Box winning rate. However, not all sellers are aware of the fact that not all repricers are created equal. While numerous Amazon seller tools are available online, there are only a few that offer a superb user experience and unrivaled efficiency. If you wish to have an instant advantage over your competition in 2021, using the best Amazon repricer on the market is key.
When it comes to Amazon repricers, you should only consider the best Amazon repricers within the industry. In order to help you sift through the many repricers claiming to be the best, we have outlined important facts and features to serve as your guide.
What is Repricing in eCommerce?
Whether it is traditional commerce or eCommerce, pricing always plays a huge role in any sales transaction. The majority of online consumers spend time searching for the best deals and discounts before making any online purchases.
Simply put, repricing is the increasing or decreasing of price for a particular item listed online in accordance with a specific set of rules and based on various eCommerce store factors. In the context of an Amazon business, Amazon repricing refers to the pricing solution that changes prices of items listed in an Amazon store depending on specific market conditions and other factors.
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Does Your Store Need an Automatic Amazon Repricer?
Amazon sellers worldwide are determined to overtake their competition in the marketplace. In view of such a goal, Amazon seller tools are highly relied upon by sellers to improve their Amazon store performance. The same goes for the pricing needs of sellers. For first-time Amazon sellers, the question of whether a third-party Amazon repricer is necessary or not is a valid question.
Although manual repricing is a legitimate answer to pricing concerns, the sophisticated features of third-party automated repricers should not be overlooked in 2021. The best Amazon repricers take into consideration numerous factors for success.
Repricing decisions made by automated repricers are mainly intended for Amazon sellers who have better things to do than spend time manually repricing their Amazon product listings or trying to decipher Amazon’s algorithm. That being said, the repricer you choose must include, but not be limited to price notifications and should understand competitors’ price adjustments, and overall marketplace conditions.
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Choosing a Repricing Software For Your Amazon Business
An Algorithm That Works
Repricers are designed to create efficiencies in your business and help you increase and secure your revenue and profit. Trialing your repricer before you purchase is important in order to help you analyze whether or not the repricer is helping you win your entitled buy box share and potentially increasing profit margins.
Be sure to understand how your repricer’s algorithm works and that they offer automated repricing to help you stay ahead of your competition. Ideally, if you don’t want to set up rules and conditions within your repricer, choose a repricer with a smart algorithm that can analyze results and implement automatic changes.
A repricing feature to check when shopping for a third-party Amazon repricer is flexibility. As well as automated repricing, a reliable repricer should have pre-configured rules that Amazon sellers can easily select and implement. Alternatively, the repricer should also be flexible enough to allow sellers to input their own rules with the help of features and other rule-based repricing methods.
Quick and Realistic Implementation
All third-party repricers are allocated 30 price feeds per hour, which is dictated by Amazon. With that in mind, any repricer that promises to repricer faster than every two minutes should be critically examined. If they do reprice faster than every two minutes, this simply means that they are using up their allocated quota for the hour and they will have to slow price changes down once they fulfill 30 price-feeds.
Another consideration when choosing an Amazon repricer is data and analytics. With the technological advancements over the past years, it is expected that an Amazon seller tool such as a repricer should have data analytics. Having dependable seller analytics will help Amazon sellers streamline their business by having access to data including current competitors, inventory levels, and changes in revenue and profit.
When it comes to repricing software, don’t just focus on its performance, but also be sure that the system is secure and not prone to malware attacks or glitches.
In relation to glitches, Amazon encounters glitches from time to time. Amazon price glitches, in particular, are a recurring concern among sellers. For that matter, it is crucial that your chosen Amazon repricer has reliable customer service and justifiable turnaround time in case of Amazon glitches affecting software performance.
Since Amazon is an ever-expanding platform, the technology behind your chosen Amazon repricer should likewise evolve along with it. The repricing solution should be open for updates and major changes to adapt to Amazon’s ever-changing guidelines. As Amazon evolves as an online selling platform, so should your chosen Amazon repricing solution.
To effectively run your Amazon business in 2021, you should maximize the use of Amazon seller tools such as Amazon repricers. Since there are different types of Amazon repricers on the market, you should choose the one that fits your needs. To help you decide on what repricing software to use, ask yourself how much time you are currently spending repricing your Amazon product listings and how aggressive your competitors are with their pricing strategy.
By applying the principles mentioned above, you can reasonably choose an Amazon repricer that will answer your need for a dynamic repricing strategy.