The eCommerce industry is extremely competitive, especially Amazon. With the growing population of Amazon sellers, optimizing your Amazon store is a distinguishing competitive advantage. Increasing sales and profits is a priority for Amazon sellers, which is why they advocate the use of Amazon repricers.
Why Repricing Speed Matters in Winning the Buy Box
Assuming that you have already sufficed Amazon Buy Box eligibility requirements, repricing is one of the most important factors to consider afterwards. As an Amazon seller, your ability to quickly reprice your Amazon products can help generate more sales through winning the Amazon Buy Box, sellers should monitor buy box.
For every Amazon seller, winning their share of the Buy Box is essential since the majority of the sales on the Amazon marketplace come from Buy Box offers. Hence, it is crucial for your product to be listed in the Buy Box.
However, winning the Buy Box through traditional repricing methods can be quite demanding and time-consuming, especially if you have numerous products in your Amazon inventory. For that matter, top Amazon sellers utilize AI Amazon repricers to maximize their repricing strategy and increase their chances of winning the Amazon Buy Box.
What Are the Main Repricer Categories?
A repricer can be categorized into two categories, namely, manual and automated repricers. Manual repricers as its name would suggest require manual inputting of the product price.
With manual repricing, if you have a high volume of inventory, you will have to devote substantial time inputting product prices and manually adjusting them daily if you wish to win the Buy Box. This somehow requires sellers to constantly monitor buy box. Hence, making such a process time consuming and repetitive.
On the other hand, automated repricers automatically adjust the Amazon listing price often in real-time and in response to price changes of competitors. However, within the automated repricer category, there are rule-based repricers and AI repricers.
In terms of winning the Buy Box, rule-based repricers will assist you in winning the Buy Box, but they often cause aggressive price wars, thereby damaging profits. AI repricers on the other hand are much more strategic, assessing the specific scenario and adjusting price based on competitor behavior and predicted competitor price changes.
However, when comparing repricers in terms of speed, there are no significant differences. All third-party repricing solutions are held to the same quota by Amazon. Since Amazon only allows 30 price feeds per hour, ideally, repricers shouldn’t reprice faster than every 2 minutes. This somehow dispels the notion of a singular fastest Amazon repricer.
What Is Amazon AI Repricing?
An AI repricer is based on an advanced algorithm that uses artificial intelligence to automatically change product prices based on specific factors. In other repricing discussions, AI repricers are sometimes called automatic repricers or algorithmic repricers.
Amazon sellers consistently aim and compete for the Amazon Buy Box, which is of course, prime real estate. This can often result in Amazon price wars since sellers keep undercutting one another in order to dominate the Buy Box.
Such a strategy has been proven risky and less productive. While sellers quickly drop their price to compete with other sellers’ price point, the Buy Box price will likewise decline to a point where profit margin loss is experienced by the lowest bidder despite being awarded the Buy Box.
Without the most advanced algorithmic software, data-driven Amazon marketplace insight, and operational expert assistance of an Amazon AI repricer, sellers will have to contend with low sales and low profit margin.
AI repricers analyze thousands of price decisions every minute to detect the behavior of your competitors and automatically select the optimal strategy to outsmart your competition. This results in gaining Buy Box share at the highest possible price.
Reasons to Consider an AI Repricer
As previously mentioned, an AI repricer is one of the must-have Amazon seller tools to help increase your chances of winning the Amazon Buy Box. In today’s eCommerce landscape, aggressive pricing strategies do not always yield success.
To be successful in the Amazon marketplace, Amazon sellers should learn not to rely on undercutting prices in their attempt to garner a spot in the Buy Box. The same thing applies to constant and endless manual updates to the Amazon product price.
The most important contribution of an AI repricer to your Amazon business is the competitive advantage it brings in terms of strategic and automated repricing. Being competitive with your price is critical if you wish to succeed in the online selling business.
In one of the surveys reported by Statista, it was found out that “70 percent of respondents stated that competitive pricing was the most important factor that influenced them to shop with a particular online retailer.”
With an AI repricer forming part of your Amazon seller tools arsenal, you can easily and quickly stay on top of competition without having to constantly monitor competitors’ pricing and marketplace situations.
It is the speed and accuracy of an AI repricer that gives Amazon sellers a competitive advantage over competitors. This somehow results to the idea that AI repricer is the fastest Amazon repricer type.
What to Look for in an AI Repricer
Easy To Use: When it comes to an AI repricer, you do not want to spend a lot of time simply learning the user-interface of the repricer. Choose a repricer that is very easy to use.
Efficient Connectivity: Other criteria to check would be the seamless connectivity of the repricer. Repricers should easily connect with Amazon application programming interfaces (API) to extract data and send data as well. You should avoid repricers that are known for their poor AWS API connectivity.
Reliable: It is imperative that when using an AI repricer, it should not be prone to system errors.
Flexible: Another factor to check in Amazon repricers is its flexibility. A repricer should be able to adjust its settings depending on the marketplace situation and user preference.
The product listing price is just one of the metrics being assessed by the Amazon algorithm for awarding the Buy Box. There are other factors the Amazon algorithm considers.
To complement the Amazon AI repricer in its objective of providing a dynamic pricing strategy for winning the Buy Box at a higher price point, here are some other important Amazon seller tools to consider.
Complementary Seller Tools For Buy Box Optimization
Positive feedback coming from Amazon shoppers is a crucial element for winning more Amazon Buy Box. The more recent the feedback, the better its impact and influence on the Buy Box algorithm.
In order to encourage more reviews and comments from previous Amazon customers, the use of feedback tools is highly beneficial. Feedback tools will automatically send customized reminders for your Amazon store customers to leave feedback.
Additionally, feedback tools are also a reliable tool to help you conveniently monitor feedback on your Amazon store, including both positive and negative feedback.
Inventory Management Software
Properly managing your inventory is an important ingredient for Amazon success. That is why top Amazon sellers make use of inventory management tools to innovate their Amazon business.
With the help of an inventory management tool, sellers can easily update, manage, and be notified of important inventory management tasks and requirements. With just a single interface, Amazon sellers can get a bigger picture of their current inventory status.
Keyword research tools drastically improve your Buy Box winning rate because they influence Amazon search results. With this particular Amazon seller tool, sellers will be guided on which keywords should be properly utilized to optimize listings appropriately.
Keyword research tools give Amazon sellers an idea of which specific keywords are ranking or trending. Thus, resulting in product listings to appear on the top pages of Amazon SERP.
Product Research Tool
In relation to keyword research tools, a product research tool provides sellers an idea of which items are highly saleable or trending in a specific quarter, year, or season.
With this particular tool, sellers are given a preview of accurate sales data for various Amazon products online and their market performance. Hence, allowing sellers to decide which products are worth investing in for their future inventory expansion or for product sales’ consistency.
Additionally, with product research tools, sellers get the opportunity to avoid items that are likely to go stale if included in their inventory.
Advertising plays a significant role in increasing sales and store engagement, which in turn also helps in increasing the Buy Box win rate. For that matter, it is suggested that sellers should utilize Amazon’s advertising solution and tools.
These advertising tools and solutions have been proven to improve overall store performance. The majority of top Amazon sellers consider Amazon ads as an essential part of their growth strategy. Through Amazon advertising, products, brands, and stores can be discovered and reach more customers.
Some of the highly suggested Amazon advertising solutions include, but are not limited to Amazon Sponsored Brands and Amazon Sponsored Display.
Product Content Tools
Providing a dynamic content experience for customers allows for a better shopping experience and improved discoverability. With this particular Amazon seller tool, Amazon sellers will be able to create unique and more relevant listing content, including product descriptions and product guides.
The abovementioned Amazon seller tools are intended to help Amazon sellers correctly optimize their store. Along with a dynamic repricing strategy advanced by algorithmic repricers, these seller tools will greatly improve your store performance.
Upgrade Your Amazon Repricer Today
One of the highly tested brands in the Amazon repricing industry is Seller Snap.
Seller Snap is capable of automatically applying the best pricing strategy for any given situation since its algorithm is based on the Game-Theory principle. Thus, giving you more edge in winning the Amazon Buy Box at the highest possible price.
We offer a reliable, fast & efficient, easy to use, and flexible AI repricer. As a testament to its flexibility, sellers can effortlessly transition from AI setting to a rule-based setting within seconds.
If you wish to try Game Theory Repricing with Seller Snap, sign up for a free 15-day trial.