Price Smart! The Open and Shut Case of Using Repricing Software
Aside from eligibility and seller metrics, pricing is an integral component of the Amazon algorithm for determining who gets the much-coveted buy box on an Amazon listing. And as we all know, 80% to 90% of all purchases in Amazon occur in the buy box, so having a sound pricing strategy in place to maintain a consistently good buy box ownership percentage is an absolute necessity for your FBA business to thrive and succeed.
The Importance of Implementing a Strategic and Highly Reactive Pricing Strategy
Selling on Amazon can be quite competitive, and in order to keep up with thousands of other FBA sellers, you have to be able to monitor the constantly changing competitor prices in the Amazon marketplace and react accordingly. Simply put, implementing a highly reactive pricing strategy based on competitor price changes allows you to consistently win the buy box and sell your products at profitable margins. This is vital to ensuring the profitability and sustainability of your FBA business.
Automated, Intelligent Repricing > Manual Repricing
Impractical, tedious, work-intensive and time-consuming. These are the best words that describe the process of manual repricing as you will need to check your listings as well your competitors’ to get the repricing of your products done. Can you imagine how difficult checking numerous buy boxes, doing manual calculations and inputting results for all of your listings is? Moreover, this process is prone to human error and may lead to your products to selling way below profitable margins.
The good news is that now, FBA sellers have access to intelligent repricing software solutions that automate the process of adjusting your prices according to the pricing activity of your competitors and marketplace trends.
Some sellers are hesitant to use repricing software for the fear of having their prices get pushed down too low triggering a price war with other sellers. Let me assure you that this never happens as the software allows you to set minimum and maximum prices for your products, and your prices never get lowered beyond your minimum price. If used wisely, repricing software actually enables you to compete according to your desired terms and specifications and help you win a profitable sale.
The Benefits of Using Repricing Software
Using an intelligent, automated repricing carries a lot of benefits:
1. It helps you save time – it frees you up from manually repricing your listings, so the time saved can be reinvested in the development and reinforcement of other aspects of your FBA business.
2. It increases your bottom line – an effective repricing solution prompts you to raise your prices when it detects competitor stock outs, seller metrics advantages you have over other sellers and other circumstances you can exploit for more profit.
3. It enables better management of costs – repricing solutions enable you to set a minimum sale price for your product which in turn allows you to factor in all of the costs incurred in selling the item. That way, you will never sell an item at a loss.
4. It allows you to select who you compete with – repricing solutions allow you to utilize its built in competition settings which allows you to avoid other sellers that wish to engage you in a race to the bottom, have lowly seller metrics or sell merchant-fulfilled.
5. It allows you to win the buy box more often.
6. It minimizes the probability of human error.
7. It helps you plan for the future – repricing software enables you to collate and analyze valuable data that you can utilize to bring your business to the next level of success. The data you can extrapolate from the software can fill in system gaps, identify and exploit profit opportunities and establish business systems to expand your business.
Why I Chose Appeagle over Other Repricers
Last year, I had a significant learning experience about investing in automating solutions for my FBA business.
I decided to invest in a significantly cheaper automated repricing solution. Admittedly, I did so mainly because of the low cost of the subscription fee, and I failed to do my due diligence in making the decision. A couple of months went by, and I noticed that my sales figures were not only stagnating, but also getting alarmingly smaller and smaller.
I was horrified – after conducting a thorough investigation, I discovered that my products were being kept out of the buy box for significant periods of time because the repricer was only adjusting my prices only on an hourly basis! In a highly-competitive selling arena such as Amazon where prices change every second, this repricer simply wasn’t going to cut the mustard.
After careful research and scrutiny, I finally made the switch to Appeagle after terminating my subscription with my previous service. Immediately, I saw my sales figures recover, and I felt how beneficial it was to have an automated repricing solution that adjusted your prices in real time. Appeagle was also an intelligent repricing solution in the truest sense, as the strategy and critical insight it utilizes and implements are FBA-oriented, and takes these into consideration when raising or lowering my prices. This allowed me to increase my sales velocity, and almost triple my profits.
Appeagle was truly the missing piece to my FBA puzzle, I absolutely give it full credit for not only turning my business around but also for the success it is enjoying today.
You Don’t Have to Take My Word For It
For a limited time, Appeagle is offering a huge 30% discount for 3 months to anyone who becomes a paying Appeagle subscriber before the end of 2017. And not only that, taking advantage of this absolute steal of an Appeagle deal entitles you to exclusive deals with services offered by these leading service providers:
71 Lbs Shipping Refunds
To get your 30% off Appeagle and this exclusive bundle of deals from their partners, use the promo code AEHOLIDAYGIFT2017 and your discount will be applied after you complete your 14-day free trial and enter your credit card information. The promo codes from their featured partners will be recieved once you become a paying customer before the end of 2017.
So hurry up, subscribe, and take advantage of this absolutely awesome holiday deal from Appeagle! If you wish to know more about how Appeagle can help take your business to the next level, follow this link: http://appeagle.com
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