Successful repricing requires that you use a balanced strategy and effective software. There are many options to choose from, with EReprice being a great repricing software for Amazon to use. But first, let us provide you with some vital tips that will help you create a winning repricer strategy.
Combine rules-based pricing with algorithmic pricing. This gives you the flexibility that you need to make the best of multiple pricing strategies. Rules-based pricing involves customising your rules, which enables you to define precisely how you will compete against your competitors. On the other hand, algorithmic pricing makes use of predetermined criteria focused on your data. It is a good thing to use a blend of the two pricing methods. The other tip is to set a minimum and a maximum price value. This appears obvious but many merchants only associate it with pricing down. If you use a strategy that may price up, it is important that you also set a maximum. Also, avoid undercutting your Amazon offering as this might lead to you being penalised by Amazon. Your website may even be shut down. Get an Amazon repricer tool that has fixed rates. Repricing tools that charge you based on a percentage of revenue tend to penalise sellers whenever they have a decent month. Fixed rate repricing tools scale with your business and encourage growth. Another tip for successful repricing is to consider factors that are likely to affect margin. These include shipping, FBA fees, Amazon listing fees and shipping charges. This will ensure that you make a profit off the price that you charge.
Today, having a repricing software is not an option. All sellers need it to remain competitive. EReprice is an excellent solution to go for. It is a great repricing software for Amazon, providing you with a more cost effective option, with up to 5,000 SKU’s available for £35 per month with our premium package. Other packages are available too. Discover more by heading to https://ereprice.com/.