Amazon Repricing Software:-
While some sellers may enjoy adjusting prices manually minute-by-minute, most of us don’t like to engage in that time-consuming process. And why should we, when tools exist to help Amazon sellers remain commercially viable among stiff competition? With the right tools like Amazon repricing software, you can manage your Amazon business effectively and intelligently.
One of the must-haves for Amazon sellers is a repricing software which assists sellers in responding to price changes by automatically adjusting product price. There are tons of reasons for Amazon sellers to use repricing software, and here are the top 5:
Time is Money
Saving time is certainly one of the biggest reason that Amazon sellers choose to use an Amazon repricing software. Price-sensitive buyers are always on the lookout for the best value option when making purchases. Because of that reason, sellers spend time pricing items competitively, however price shifts require the seller to monitor the market rigorously. Especially when you have a large number of listings, manual repricing can be extremely ineffective. So why not utilize a tool which automates tasks that would normally be time-consuming to perform by hands? Repricing software allows you to manage thousands of listings under one cloud-based central system.
Once you’ve set up all the required inputs, the system will follow your rule settings and automatically adjust prices for you without you having to lift a finger. The Amazon repricing software will intelligently scan market prices and target your competitors to begin the adjustment process. By eliminating the time spent on manual repricing, you’ll gain extra time to scout more items to sell. Repricing software is more than just a tool, it is a strategic advantage where you can get the most amount of work done in the least amount of time.
Dominate the Buy Box without Losing Profit
The second most important reason for Amazon sellers to adopt an Amazon repricing software is to stay competitive. Although many e-commerce retailers are opposed to using repricing software because of the loss of control over their pricing, a good repricing software allows you to raise or lower your price for ultimate control which helps you maximize profit margins while maintaining a competitive advantage. Most repricing software now allow more sophisticated settings than simply undercutting the lowest-priced competitor by a penny. They allow users to customize their own repricing rules when competing for the Buy Box. A good rule of thumb is to lower your price until you win the Buy Box, then raise it incrementally until you lose it. By constantly staying competitive in pricing, it can potentially increase your sales.
Avoid Repetitive Calculations and Mistakes
Like most people, you probably don’t like to do math, or at least not the same problem over and over again. Due to constant price changes, price calculation is unavoidable. With repricing software, you can reduce the repetitive calculations involved in manual repricing.
After you’ve inserted your initial cost, all the complex calculations can be done in just one click. The Amazon repricing software will automatically calculate your minimum and maximum profits for you. It not only saves time but most importantly helps avoid all the possible calculation mistakes that you might make in manual repricing.
Know Your Competition
All businesses face competition, especially in an intensely competitive marketplace like Amazon. Therefore, identifying your competitors is critical. Having knowledge and understanding about the competition can help you develop stronger strategy and achieve better sales performance. However, competitor analysis often requires time and effort to collect information and conduct research. That’s where repricing software comes in. One of the strategic advantage of using an Amazon repricing software is to get access to practical information about the competition: number of competitors, competitor’s price, fulfillment type and more. This allows you to choose your battle and stay ahead of your competition.
Clear Inventory and Avoid FBA Long-Term Storage Fee
Did you know Amazon regularly conducts inventory cleanup On February 15 and August 15 of every year? On these dates, inventory that has been in Amazon fulfillment centers between 6 and 12 months are assessed a long-term storage fee of $11.25 per cubic foot. To avoid such expense, let a repricing software help you clear out your inventory. For those obsolete in-stock items, you can boost sales by customizing an aggressive repricing rule. The system will always reprice your listings within the boundaries of your pre-determined minimum and maximum process. So while you are able to clear out the inventory, it also helps you maintain your minimum profit margins.
So there you have it. Don’t waste any more time manually adjusting prices on Amazon. Save energy, avoid anxiety and make progress with practical and helpful repricing software.
Finding a reliable and suitable repricing software can be hard but be sure to test out all the features until you find the one that works the best for your business. Why not experience it yourself! Sign up for BQool’s Repricing Central today to begin your 14-day free trial.
BQool is a SaaS company offering great software solutions that help Amazon merchants resolve daily business challenges. The BQool suite so far consists of Repricing, Feedback, and Review Central. To learn more about BQool, please visit https://www.bqool.com/