Guest post by Jude Liemburg | April 24, 2019, | Estimated read time 3 min
With more and more people shopping online, and Amazon being the #1 platform where people shop – repricing software has become an essential part of the online seller’s eCommerce strategy.
Whether you are switching your repricing solution or contemplating purchasing an Amazon repricing solution for the first time, it can be a tough and difficult choice. What is important for a repricing solution on Amazon is that it will help you stay competitive, boost your margins, profits and, of course, win a fair share of the Buy Box.
Going Beyond the Amazon Buy Box
Winning the Buy Box takes more than just having a low price. Other factors to weigh are your competitive landscape, inventory levels, reviews status, customer service, shipping costs and more.
Repricing is not a silver bullet for sellers on Amazon, but nothing is. It’s a type of automation that should be assessed and measured and adopted fully if it provides a positive return on investment. Even so, with the fierce competition to win the Buy Box, a repricing solution is an essential part of an Amazon sellers’ eCommerce strategy.
What to Look for in Amazon Repricing Software
With many factors to consider on how to choose a price, we broke it down for you in some easy steps. Here’s what to look out for when comparing Amazon repricing software:
Is There a Trial Period?
Almost all companies that offer a repricing solution provide a trial period. A trial period is crucial when you’re about to invest in a repricing solution for your company. You’ll want to make sure that you will get your investment back in sales profit through repricing and Buy Box share. Give yourself time to really delve deep into the statistics and actionable insights during your trial period. Don’t just turn it on and forget about it for two weeks.
How Much Does the Software Cost?
A repricing solution can seem a high expense for your business but remember that a repricer is only expensive if it does not make you more money. Be realistic. How much money are you currently generating? How much can you afford to spend on third-party software solutions? If you plan on scaling your business, it is okay to take that into account as well.
Which SKUs Are Best to Test During a Trial Period?
Repricing is necessary if you’re on a competitive listing, especially as so many of your competitors will be using a repricing solution. When choosing SKUs for your trial period:
- Make sure you choose items with competition and items that you have in stock.
- Mimic your total inventory as much as possible.
- Follow your business model. For example, if your business model is split into FBA and FBM listings 60/40, make sure you follow that ratio with the sample you put into the trial.
Is Amazon Repricing Software Right For You?
Also, make sure your Amazon inventory model is relevant for using a repricing solution. For example, if you’re a business selling your own branded items, repricing these items can be tricky. If you’re consistently selling the same products month after month, then it makes analyzing performance much easier.
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