Prices are ever changing in Amazon. How the price of your item fluctuates depends on the sellers that you compete against on Amazon. You need to frequently manage the prices of your listings if you want to stay competitive and maximise sales. Here are some of the best Amazon repricing strategies to help you:
The first thing is to set minimum prices for your items. This is especially important if you use an automated repricing tool to ensure the tool does not go lower than a set threshold. Another thing is to set maximum prices. With a good Amazon repricer tool, you can set maximum prices that can become handy in many scenarios. You may, for instance, revert to a maximum price when your competitors drop off a listing, which gives you a chance to make bigger profit margins. Aside from this, you need to include shipping charges when repricing. Amazon often shows listings based on both the base and shipping price of an item. When repricing your listings, it is important that you consider the total price that is charged by your competition, and this normally includes shipping charges. A repricer takes into account the total prices of your competitor when repricing, which eliminates the manual work for you. Another tip is to win the Buy Box. This is the ultimate award that any seller can win on Amazon. For you to win it, you must ensure that several factors, price included, meet the Buy Box requirements. Top criteria include the landed price, seller rating, shipping method and shipping time. These must be well maintained and established for you to win the Buy Box.
You need to test Amazon repricing strategies until you can know what works and what doesn’t for your kind of product. But first, you need to best software to give you the platform to do this, which is what you have with EReprice. Check out https://ereprice.com/ to know more on what we can offer to you.