Selling online is almost always going to be price-driven because you are most likely to have competitors. You can offer free gifts, you can offer exceptional customer service, free delivery and returns and more, but it’s essential that you also remain competitive on price — especially if we are talking about Amazon.
To price competitively on Amazon, you have two options — manual or automated repricing using an Amazon repricer. The choice is yours and will be dependent on the volume of products that you are selling and how much time you are willing to dedicate to this vital area of your online business.
For those sellers choosing to go down the automated path, we’ve compiled a list of useful things to consider about Amazon repricers right now. It doesn’t matter if you’re selling books on Amazon or accessories, a repricer will save you time and increase your sales.
Things to Consider When Choosing an Amazon Repricer
Here are some things to consider when choosing an Amazon repricer.
What suppliers does the repricer support?
How much does it cost each month?
How quickly are your listings repriced?
Do you have to pay extra for continuous repricing?
Is there a free trial? Do you need a credit card to activate it?
Does the repricer sync directly to Amazon’s Subscriptions API? The best ones do!
The most important competitive advantage created by a hands-free, automated dropshipping business is the time that’s freed up from automating repetitive processes that are vulnerable to human errors.
While your business grows, you have invaluable amounts of time on your hands. Spend this additional time to find and explore new potential suppliers, investigate new channels, and focus on other methods to grow your business.
Every successful dropshipper is using a repricer that monitors the prices consistently in order to keep their profits stable and never sell at a loss or out-of-stock products. There is no workaround to scale your business and boost your profits.
Whatever Amazon repricer you decide on is your call.
We believe Repricehub’ Amazon repricing software is the best on the market for sellers on Amazon who wish to reprice in real-time.
Here are some key features that distinguish Repricehub from other repricers:
Direct integration with Amazon, no third party software is required – With Repricehub you don’t need other software such as Informed, where you will have to spend more money and have your tasks spread around multiple platforms.
Order management – Detailed dashboard where you can see all your amazon orders and the corresponding supplier items. Know your exact profit from each sale and quickly navigate to Amazon order and supplier product with one click.
Automatically checks and updates prices and availability of all your products – It updates prices every 30 minutes.
Live Chat Support – 7 days a week our team is ready to help with anything.
Affordable plans, starting at $49. Compared to other repricers where you will pay up to 3 times more even without the third party apps – that’s a pretty sweet deal.
Tired of complicated and hard to use softwares? Try it out with the 14 days Free Trial. Get started in 3 Easy Steps
Add Amazon seller account
Follow the three simple steps during setup to connect your Amazon store.
Create payment policies
Add a profit margin, Amazon and supplier tax, fees and other settings in your listing policies. Repricehub will update the price and quantity of your listings based on that.
Link your Amazon listings and supplier products
Insert the supplier product URL for each corresponding Amazon listings and choose a policy to apply. You can do it one listing at a time or in bulk.
Try it free for 14 days, no credit card required – www.repricehub.com.
Now after we’ve broke down what you need to look for before choosing a repricer, let’s talk a little bit about what is repricing and why it matters.
What is repricing?
Simply put, repricing is the act of changing the prices of the products you sell to give you a competitive edge over your competition. But we are not talking about just random price changes.
Repricing is done strategically and continually with the purpose of making more sales at optimized margins and attracting more potential buyers.
Products’ prices typically move up and down because of a change in the following factors:
• Product cost • Shipping cost • Perceived value • Supply and demand
But the biggest reason for Amazon repricing today is the abundance of Competition.
How competition affects repricing on Amazon?
The repricing phenomenon began years ago when retailers like Toys ‘R’ Us, Best Buy, and Walmart began a policy of price matching their competitors during the holidays. What started as an initiative to boost holiday sales quickly evolved into a yearlong practice, with multitudes of major retailers adopting the trend. When you shift the focus to today’s world of online retail, repricing becomes a whole new ballgame.
On online marketplaces as massive as Amazon, Walmart Marketplace, and eBay, there are almost always multiple sellers listing the same products. In order to stand out from these competitors, sellers must strive to offer products at the most competitive prices at any given time. The only way to do this is to stay on top of your competitors’ prices and then respond accordingly when you set your own prices.
That, simply put, is repricing.
Of course, there’s a lot more nuance to repricing, such as the difference between manual and automated repricing, the strategies available for different situations, and the way Amazon’s Buy Box comes into play.
Why does repricing matter?
As consumer technology continues to improve, the buyers are becoming savvier while shopping. Today’s consumers can easily compare prices across multiple retailers using apps and websites that are specifically geared toward helping them find the best value. And, when comparing two sellers offering the same item, the deciding factor for the majority of online shoppers will be the price.
“In fact, 41% of consumers admit to just enjoying the thrill of finding the best deal, according to Retail Systems Research.”
The enormous scale of the Amazon marketplace makes repricing even more important for Amazon third-party sellers. But it’s not just because of Amazon’s size. Repricing on Amazon is crucial because of the “Buy Box.
Winning the Buy Box is by far the most important thing an Amazon seller can do to influence sales growth. Whenever an Amazon repricer is used correctly, you’re highly likely to win the Buy Box more often as well as increased sales and profits. It really is an essential tool for most serious Amazon sellers. If you want to learn more about it, make sure to check our detailed blog post “How to Win the Amazon Buy Box”.