9 must have features of a top Amazon repricing tool
Would you run a 100-meter sprint with one shoe or enter a bike race with a flat tyre? Unless you’re using the best Amazon repricing tool, that’s what you’re doing – giving your competitors an instant advantage.
Have you ever thought, which Amazon repricing software is the best? Amazon repricers are not born equal. The best Amazon repricing tools automate the process while taking full advantage of the seller’s knowledge and experience.
Using repricing rules, sellers can compete in a granular way that reflects the full range of competitive scenarios. In this post, we explore repricing rules and advanced features, and how to use them to make more profit on Amazon.
Amazon Repricing Rules
1. FBA and non-FBA
Define how much above or below other types of sellers you wish to compete. FBA merchants can compete with other FBA sellers only and ignore non-FBA, or price above them. Using rules, FBA sellers can maximize the profit on each sale by pricing above the self-fulfilled, while still having a strong chance of owning the Buy Box because Amazon favor FBA.
Self-fulfilled sellers can fight back by improving their customer metrics and feedback scores to undercut FBA sellers and win the Buy Box.
2. Feedback ratings and percentages
Feedback score is another way to compete. It’s easy to find your seller rating and percentage, as well as that of other sellers. Feedback is a big differentiator for buyers, it’s used to compare sellers and make buying decisions. You can choose to compete with sellers in your range and rule out sellers you either can’t or don’t need to compete with.
3. Domestic v Foreign
With buyer preferences in mind, an effective Amazon repricing tool can be programmed to overlook overseas sellers and only compete with domestic traders. Choose to price higher than a foreign merchant. Many buyers are more likely to purchase from a domestic seller. It can be worth pricing above them to get that extra margin.
Advanced Repricing Rules
4. Competitor stock level
This is commonly used when your competitor runs out of stock. Program your Amazon repricing tool to price above the out of stock seller. Buyers often choose a merchant who’s in stock because they will ship the product straight away.
5. Stock age
Define how to compete with sellers based on their stock age. Stock rules also apply to your old stock, that’s taking up shelf space, by encouraging the sale of stagnant inventory. Program in the number of stock days to apply a more aggressive pricing strategy after a certain period of time.
6. Specific Merchants
Target a competitor without them knowing. Whether it’s because they drive your prices down or jump on your listings, or they’re one of the few real competitors in your niche, every seller will have a rival that springs to mind.
This is where the merchant rule really comes into play. You can insert their merchant ID and set up your repricer to compete with them. It can also be used to avoid certain sellers.
Better control of your Amazon Repricing Tool
7. Repricing Scheduler
You won’t want every rule to be applied to a product all the time. You may, for example, want to only reprice certain SKUs below a certain level or sell them at a specific time, such as weekdays or over the weekend. Set rules to take advantage of times with both high and low volumes of sales.
8. Price Replication
Do you sell on other marketplaces like eBay? If so, replicate your Amazon prices to your equivalent eBay listings. Choose to replicate them exactly or set them to be a percentage or value above the Amazon price. You decide how this works on a product by product basis. Replicate your Amazon prices on your website for price parity across channels.
9. Net Margin Repricing
Net margin repricing prevents you from selling products at a loss. Every single cost associated with a product can be entered into the repricer and used to automatically calculate the minimum selling price. Net Margin repricing allows you to identify and eliminate unprofitable sales.