An introduction to Amazon repricing
If you sell your products on Amazon, you will be all too aware of the challenges that you face to ensure you stay competitively priced and gain maximum exposure to potential customers.
If you have, say, 50 products, how do you make sure your products aren’t more expensive than your competitors who are selling the same thing? Sure, you could manually check each of your items every day and manually change the prices accordingly, but think how long that’s going to take. Even if it only took 2 minutes per item, that’s nearly 2 hours every day. It’s an inefficient way of monitoring your prices. What happens if someone else reduces their price 10 minutes after you’ve checked the item? We can tell you exactly what will happen – you’ll probably miss out on some sales!
For sellers with hundreds or even thousands of items, there simply wouldn’t be enough hours in the day to manually price an entire catalogue.
That’s where Amazon repricing software comes in.
How Amazon repricing software works
Repricing software such as EReprice helps your products stay competitive. You load your catalogue in to the software and then it works its magic, 24 hours a day.
The software looks at your products and finds the same items for sale by your competitors. It then uses a special algorithm to automatically reprice your item to make it in line with identical items, or slightly cheaper, depending on the software settings you have selected.
You can set minimum and maximum prices for each item to make sure it’s never repriced to an amount you are uncomfortable with.
How quickly does repricing software respond?
Repricing software receives updates from Amazon whenever the price of a competing item is changed. It reacts straight away by repricing your item accordingly. The software runs 24 hours a day, so even if a competitor’s product changes at 3am, your product will be changed shortly afterwards (this is dependant on Amazon).
If the repricer receives a notification to say that everyone else has sold out of a product, it will change the price of your item to the maximum allowed price. After all, if nobody else is selling the item, people will have to buy it from you – no matter the cost!
Repricing software: The key to maximising profits
Constant product updates keep you at the top of your game to give you the best chance possible of winning the buy box and generating sales. Your shop will effectively run itself, with very little input from you once it’s all been set up.
The complex algorithms and calculations that the software completes in the background are tailored to maximise your product visibility and profit margins.
Repricers take the time and hassle out of managing your products and stock levels, leaving you more time to spend on growing your business.
To find out more about the selling benefits that repricing software can bring to your business, check out our features page. To allow you to see the full potential of EReprice, we offer a 14 day free trial.