Product prices on Amazon are always fluctuating. Repricing has always been crucial for sellers in order to stay competitive and get the majority of the sales. While some Amazon sellers choose to reprice their products manually, it might be time-consuming and stressful, especially when you have more items to offer. It’s considerably preferable to go forward with Automated repricing since the benefits are numerous.
You may, however, have a different perspective on Automated repricing or have questions whether it’s the right fit for your business. If you want to find out how Automated repricing can help your Amazon business to succeed, keep reading!
What is Automated Repricing?
Automated repricing on Amazon allows you to adjust your product prices in response to market fluctuations. To compete against fierce competition, businesses require a systematic approach that keeps their product prices highly competitive, wins the Buy Box, and preserves their profit margins; automated repricing offers just that!
Amazon repricing is compulsory to stay ahead of the competition, and Automated repricing gives sellers an edge over those who are repricing their products manually.
How is Automated Repricing better than manual repricing?
Every day, 2.5 million price changes occur on Amazon. This means that on average a product price changes every 10 minutes (businessinsider.com). It’s hard for sellers to keep track of these price changes since they are so subtle. When manually repricing your products, it gets quite challenging to track all the price changes and respond instantly. Such mishaps might lead to dipped sales and lower profit margins.
On the other hand, an automated repricing tool enables sellers to set min/max prices, customize strategies, determine their competition, and other essential factors. So, even if sellers are ignorant of any price change, an Automated repricing software will notice the change and react and inform the seller immediately.
Furthermore, manual repricing is significantly slower than automated repricing, is time-consuming, and costs a lot more with a considerable risk of human error!
What benefits can it provide for Amazon sellers?
Using an Amazon repricing tool is one of the best decisions a seller can make. Here’s why:
Saves time
An Amazon repricer saves the time that you would normally spend manually monitoring your competitor’s price changes and then repricing each of your products accordingly. You can put that time to better use by launching new products and offering the best customer service, letting the automated repricer take care of your prices. It automatically reprices your items as soon as it receives notification from Amazon. Plus, it stays within limits you mention so that you don’t have to worry about your prices being dropped to the lowest.
Wins the Buy Box
To win the Buy Box, automated repricing makes sure you have competitive product prices 24/7. Having competitive prices is the key to winning the Buy Box resulting in the majority of the sales on Amazon. It is estimated that Buy Box attributes to around 80% of the sales on Amazon.
An automated repricer can help you win and maintain the coveted Buy Box.
You can also try Alpha Repricer’s Buy Box hunter that makes sure you win the Buy Box every time you decide to compete for it.
Boosts sales
A repricer helps you maximize your sales by continually repricing your products to ensure you have competitive prices. Automated repricing is the most effective strategy to implement if you want to see a boost in your sales in less time. As opposed to manual repricing where you have to keep checking and comparing prices, an automated repricer will notify you if there is a price change at the competitor’s end and act accordingly thus ensuring you stay one step ahead.
Fast and effective
It gets super frustrating to keep track of all the price changes on Amazon and reprice your items manually. As a result, you miss out on sales because of not focusing on other critical business areas. An automated repricing tool is faster than you and more effective.
Misconceptions about Automated Repricing
There are certain myths and false claims related to Automated repricing on Amazon. Many sellers fear that if they choose Automated repricing, it will lead them to price wars. They don’t want to drop their prices to the ground or sacrifice their profit margin. However, with a smart Amazon repricing software, you can choose whether you want to get into competition with a seller, or avoid the price wars altogether. A good repricer lets you define your competition based on multiple factors or even lets you opt out of it completely. It gives you control of what you want to do – what min/max you want to set, what formulas you want to define and a lot more. Once you do all that, it then works on the instructions you have provided and reprices for you.
In short, Automated repricing is not a race to the bottom! You can choose to reprice both up and down.
Automated Repricer for FBA sellers
It doesn’t matter whether you are an FBA or an FBM seller. Both need to reprice and both types of sellers need a repricer. The only thing to do is to decide whether you wish to go for manual or automated.
Sellers always want to know if they should consider signing up with an Automated repricing tool for their business- and the answer is a big YES! You can manually reprice your items, but the time and effort that goes into it is not worth it. With automated repricing software, you get accuracy, speed, and a competitive edge over other sellers. So it doesn’t matter whether you are an FBA or an FBM seller; an Amazon repricer is necessary for every seller looking for a time-saving and cost-effective route to repricing.
Conclusion
An automated repricing software is the need of the day in today’s ever changing environment on Amazon as far as product prices are concerned. Make sure you go for a smart repricer that has all the features needed to make it the best in the market. There are a few repricers that are affordable and offer a plethora of excellent options in the market that you can try out for free.