If you’re new to selling online, you might not know about repricing software. And maybe if you are aware of it, you may think you might not need it based on your sales volume. It’s good for all sellers to understand repricing software inside and out so that when the time comes to invest in it, you’ll be able to make the right choice immediately.
Keep reading to learn everything you need to know about Amazon repricing software.
There are few things in life that have static prices. For the most part, products and services are being constantly repriced to reflect market trends and supply-demand.
Amazon is no different, but smart sellers don’t make these price adjustments by hand. Instead, they use repricing software to do it for them. By using a repricing app, they can have their products’ prices go up or down when certain conditions are met.
Going with an Amazon repricer means less chance of human error, freed up time, near-instant price changes, the ability to outpace competitors, the best margins possible on each sale, and higher odds of winning the Buy Box on Amazon.
But what repricing software isn’t is a magic tool to sell products. You still need to feed it your research and expertise, in order to get the best results.
Prices on Amazon can change in the blink of an eye. If you don’t have software in place to adapt to real-time changes, you may lose sales to your competitors.
Plus, do you really have the time to be hitting refresh on sellers’ pages while still carrying on your usual tasks? For most people, the answer is no, which is exactly why repricing software comes in handy.
Speed is one of the biggest reasons to invest in repricing software, but it’s certainly not only one.
Here are more to convince you:
The reasons for this are small. Most sellers who don’t need repricing software are ones who:
At the heart, all Amazon repricing software changes prices based on meeting certain criteria. But how that happens looks a bit different based on the software. Below are the most common methods that repricing softwares use to adjust prices.
One of the most common methods is algorithm-based repricing, where the software looks at various affecting factors and uses that to reprice your products. It takes account what you tell it to look at so your listings are always optimized.
The other most common method is rules-based repricing. This is where you create the rules (i.e. conditions); when those rules are met, the prices are updated accordingly.
If you look a bit deeper, you’ll also come across velocity-based repricing (setting prices to match min/max sales numbers), price-mirroring pricing (matching prices within the same marketplace) and fallback pricing (switching to a different repricing strategy if the current one isn’t delivering the required results).
To stay competitive on Amazon, you can choose to reprice manually or automatically. The former is time-consuming, boring and ineffective. By pricing automatically, you’ll save time, be more effective and keep your prices competitive 24/7 — even when you’re asleep!
And, just like learning to drive a car, you’ll need some help and guidance to get you on the road. This is where our great customer support team comes in. They’re available on live chat, phone and email during your free trial to answer any questions and hold your hand.
Not all repricers are made equal so it’s important that you find the one which has the features you need, includes continuous repricing and is within your budget. Unlike some repricers, we’ll never take a commission on your sales or lock you into a long-term contract.
Ready to get started? Our usual free trial is 15 days but we’ve decided to extend that to 30 days for any seller who signs up to RepricerExpress using the promo code FREEEUP30. No credit card needed.
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