Using the right repricing software as an Amazon seller is something you should consider seriously. Good software gives you the ability to maximize your revenue while minimizing your workload. By choosing the right solution, you can automatically resell your products. This means there is no manual repricing needed, which is very likely to take up most of your time.
With the development of new technologies, the demand for software repricers has risen significantly. If you are scouring the Internet today, your search will certainly yield many positive results. This is an obvious option, you have even more options to consider. But what do you really need to consider to choose the best Amazon repricing software?
Firstly, it is worth considering solutions to automate most, if not all, of the tasks that give you sleepless nights. A good solution should give you less reason to worry. You can even ask for a demonstration to ensure that the software is suitable for your marketing purposes.
Inventory management is one of the areas where most businesses experience difficulties. Maintaining up-to-date information about each available item has never been an easy task. By choosing the best software solution, you can optimize your inventory. For example, good repricing software should help to adjust prices depending on the available stocks.
However, how do you choose the best Amazon repricing software for your business? If you need better or better-built repricing software to maximize your chances of getting a Buy Box, here are a few other key points you need to consider when deciding which repricing software to use.
1. Is the software associated with your marketplace?
The very first thing you should pay attention to is the market that supports repricing software? It’s easy to see that almost all repricers support the major Amazon markets. What else you should consider is the ability to integrate with other Amazon solutions, such as inventory management tools. Integration can prevent conflicting situations in repricing software.
2. Which repricing plan is right for you?
Repricing is an important factor for every Amazon seller. Most repricing software provides several repricing plans from the entry-level to the enterprise level. The price may vary depending on the number of ads supported by the publisher. You should familiarize yourself with the pricing features and other additional benefits included in the plan that will benefit you.
3. Is it truly data-driven software?
Data-based information software allows you to track your listing information and the activity of your competitors. It can then combine data into a comprehensive and visualized dashboard or report, to enable you to pursue more effective repricing strategies accordingly.
4. How functional is the software?
It is important to get a repricer capable of adjusting the repricing rules according to different competition scenarios.
Few things to keep in mind when hunting for a good Amazon repricer to implement a repricing strategy (tho, I recommend checking out Sellersnap.io first):
- Does it stop lowering prices after you enter the Buy Box? (Maximize profit!)
- Does it allow you to compete not only for the lowest price, but also for the second-lowest price, third lowest price, and fourth lowest price? (More options!)
- Is it possible to set different price scenarios when competing with prices that are higher, equal, or lower than those set by sellers, by Amazon Listings, or by Non-Permanent sellers?
- Is it possible to compete for the next optimal price if the competition is below your minimum price?
- Does it increase your price when you have no competitors?
- Does it allow you to exclude specific competitors?
- Is it possible to ignore competition with feedback ratings below your specified percentage?
- Does it allow you to set profitable prices compared to your competition?
5. Is the software region-limited?
Do you sell to Amazon US, Amazon CA, Amazon UK, or to other markets? Then you will need a multi-market repricer that can work in different currencies and languages. This will eliminate any limitations associated with expanding your business.
6. How fast does it reprice?
All companies must rely on the price information that Amazon provides to conduct the repricing process. This process typically takes 15 to 60 minutes, depending on the repricing provider. So if you want to be one step ahead of your competitors to win a Buy Box, consider a repricer that regulates prices the fastest.
To sum it up
As a seller, your success depends largely on how you adjust prices based on market conditions fluctuations.
Automatic repricers, in particular, is a good lever for that. Manual repricing has, in most cases, led to the collapse of many businesses. To keep abreast of developments, we have considered repricing software that will help you gain current market share by automatically changing prices depending on the market environment.
The availability of accurate information is very important when doing business. The more reliable information you have, the higher you are able to make an informed decision. To make a profit as the market environment changes, you need to choose repricing software that is beneficial for your business.