Top 7 Repricing Rules for Amazon Sellers to Follow
As an Amazon seller, using the right repricing rules is essential to carry out a successful business online. Choosing the right automated repricing tool to keep your prices competitive is essential to stay on top. However, even if you reprice manually, the following repricing rules come in handy when you want to sell the smart way!
Check them out!
1. Set minimum prices for your items
Set minimum prices for your products to avoid risking your profit margin. Any automated repricing tool that works for you shouldn’t drop your price below your preferred threshold. Even if you stick with manual repricing, you must decide the lowest price you want to set for your products so that adjusting your prices can be easy.
The best way to set your min prices is to determine the minimum profit you require over a product. Not every automated repricing tool allows you to set min and max prices, but we do!
Using Alpha Repricer, you can easily set your minimum and maximum prices according to your profit margin, and we never cross it!
2. Set maximum prices too!
You must set both minimum and maximum price ranges. With an Amazon repricer, you can set maximum prices for your items that can be used in various situations. For instance, when your competitor fails to hold their position and drops off, you can increase the price according to your maximum price limit. You can earn more profit than usual. Also, you can go back to your maximum price once your products reach their minimum price limit.
3. Choose your competition!
People usually assume that using an automated repricing tool means signing up for the “race to the bottom,” which is not true! You can choose who to compete with and exclude unnecessary competitors to avoid pricing too far down.
An FBA seller can exclude all the sellers that are not using FBA so that their prices don’t drop. Many Amazon repricing tools allow you to filter out your competition based on their seller ratings, backordered functions, and handling days.
4. The quality of your products decide the price you offer!
Always set the price according to your item. If you are selling a used product, make sure that the price is not higher than the new ones being sold in the market. You can price new items higher considering their quality and condition.
Also, make sure you choose your competition according to the items you sell. Compete with the sellers that sell similar items like yours.
5. Why must you reprice even when you are the only seller?
When you sell an exclusive item with no competition, it gets tempting to set your desired price. Most of the sellers even cancel the option of repricing for that particular item. However, using an Amazon repricer even when you are the only seller increases your visibility and profit margin. It makes sure you stand out because the market is demanding, and staying in competition is important as soon as you get another competitor on board.
6. Winning the Buy Box is essential!
The Amazon Buy Box is like a treasure for Amazon Seller. First, you must be eligible to win the Buy Box, and for that, you have to work on many factors- including keeping your prices competitive. Your prices must be according to the Buy Box requirements to win it and attain its position. Also, you must have a well-maintained seller rank, shipping time, and feedback. Once you achieve the target of winning the Buy Box, an automated repricing tool helps you attain it at the highest position.
Alpha Repricer’s Buy Box hunter gets the Buy Box for your business and holds it at the highest price possible so that your competitors can’t take it from you! Please read our blog to learn more about our tool!
7. Focus on your shipping!
Always focus on shipping when you start repricing. Amazon shows your items according to their price and shipping charges. FBA sellers offer free shipping. However, make sure you determine the total price your competitors charge for a product, including the shipping. An Amazon repricing tool will take the collective prices under consideration to reprice accordingly and decrease manual work.
There are no set rules for repricing, but with experimentation and experience, you learn what works the best for your business and how you want to take things forward. Make sure you determine the best repricing rules according to your items, and don’t change them too often to avoid wasting time. Maintain the rules you set and stay competitive!
If you choose to work with an amazon repricing tool, then consider us! Alpha Repricer is the fastest amazon repricer that allows you to stay competitive 24/7! We reprice instantly to make sure you stay on top. Try our free 14-day trial to experience it yourself!