How to choose a repricing solution
With more and more people shopping online, and Amazon being the #1 platform people turn to shop, repricing software has become an essential part of online sellers eCommerce strategy.
Whether you are switching your repricing solution or are contemplating purchasing a repricing solution for the first time for your Amazon store, 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 and profits and, of course win a fair share of the Buy Box.
It is crucial though to remember that winning the Buy Box is more than just having a low price. Other factors that weigh in 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.
With many factors to consider on how to choose a repricer, we broke it down for you in some easy steps.
Trial Period. Almost all companies that offer a repricing solution provide a trial period. A trial period is crucial when you are about to invest in your company with a repricing solution, as you will 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.
Price. 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.
SKU’s for Trial Period. Repricing is necessary if you are on a competitive listing, especially as so many of your competitors will be using a repricing solution. When choosing SKU’s 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.
- If you are a business selling your own branded items, repricing these items can be tricky.
- If you are consistently selling the same products month after month makes analyzing performance much easier.
Seller Snap and Game Theory Repricing are a genuine step forward in Amazon repricing technology, providing a fresh and effective approach to a long-standing problem: how to compete effectively on the Amazon marketplaces without driving prices into the ground.