“How Smartlists help you understand and optimize pricing on Amazon”
Whether you’re trying to set your prices or you want actionable insight into your inventory, the ability to create and control the way you see your inventory can be one of the most liberating and powerful tools at your disposal. Read on to find out how Sellery can help.
Sellery gives you complete flexibility and creative control so that you can segment your inventory into groups based on almost any data or characteristic you can imagine.
These groupings are dynamic and automatically updating. If for example you define a smartlist that shows you all your ASINs that have Amazon as a competitor, that list will update itself anytime Amazon starts competing with another one of your items.
Similarly, if you define a smartlist that shows you how many ASINs have been sitting in an FBA warehouse for more than 90 days, whenever a new ASIN reaches that age threshold, it will automatically be added to this smartlist.
If there’s a very specific group of items or a single item you want to look at or reprice, you can create Smartlists based on Title, Sku, or ASIN. For example, you can return a list of all items with a specific word or string of characters in the Title or ASIN.
There are literally thousands of groupings you can create: whatever you can imagine, you can see and do in Sellery!
SmartLists and Repricing
You can apply a minimum price and a unique pricing strategy to any smartlist you create.
Smartlists are critical for repricing because different groups of ASINs will have different business objectives associated with them and therefore require different pricing strategies.
The Buy Box
If you’re selling any media items, you can split these into two groups: one for Used and one for New media items.
Used media are Buy Box eligible while New media is not.
For your FBA or MFN non-media items that are Buy Box eligible you can target the Buy Box.
Repricing items with no competition
Similarly, you can see which ASINs have no competition and break this down into separate smart lists based on the number of sales you’re getting.
Since these items have no competition, the Buy Box isn’t relevant nor is having the lowest price.You can then set pricing strategies to raise or lower the price for these items based on whether the current price point is generating enough sales.
When to Liquidate
You can also set up smart lists to based on sales or number of days in the FBA warehouse so that you know when to liquidate certain inventory. If a group of ASINs isn’t worth continuing with, you can lower your minimum price, and price more aggressively to liquidate.
Competing vs. Amazon
You can generate various smartlists for items that are competing against Amazon. Amazon changes their algorithms for how they alter their prices all the time and it can be a good idea to do some experimenting. Many people say that you can undercut Amazon by a small percentage without triggering their algorithm and starting a price war.
Analytics
It’s not just about repricing. With smartlists, you can get actionable insight and keep tabs on Sales, sales rank fluctuations, age of inventory, and much more. For example, you can create your own custom days of stock list where you can see all the ASINs that will need to be restocked today, this week, or this month.
Over the years the sellers we’ve worked with have taught us that while many sellers have similar business goals and objectives, the problems and opportunities they’re faced with are unique.
We’ve used this idea to build the most complete, reliable, and flexible repricing platform available. Click here to get a free trial and explore Sellery for yourself.