Whether it’s just tweaking a few prices by hand, systematically adjusting prices every week or using automated repricing software, repricing is part of nearly every Amazons seller’s business.
At SellerEngine, we focus on a subset of automated repricing that we like to call Intelligent Repricing.
Keep reading to learn more.
Intelligent Repricing vs. Automated Repricing
Automated repricing can be simple. It doesn’t usually require a lot of input from you and might not require a lot of thought either.
But the possibilities and the results of simple automatic repricing can be limited, and sometimes devastating, if you make a mistake and don’t correct it.
For some sellers, this is enough.
But for Amazon sellers who really want to succeed, Intelligent Repricing is the key.
Keys to Intelligent Repricing
You
Unlike simple automated repricing, which relies only on software, you’re the most important part of Intelligent Repricing.
You’ll start by using your knowledge of your inventory’s past performance, like seasonal sales trends. Then you’ll consider your expectations for future performance, as well as your existing pricing strategies to develop an intelligent repricing strategy with the software you choose.
Your Software
Without the right software, Intelligent Repricing just doesn’t work.
Your software needs to be able to:
- Segment your inventory so that you’re repricing the right items at the right time.
- Accurately track your item costs so that you never sell an item at a loss.
- Flexibly adjust prices (both up and down) quickly and accurately.
That’s why we created Sellery.
Sellery has:
- Smart Lists that allow you to create lists of items that update as your inventory changes.
- A Dynamic Minimum Price calculated using your cost of goods sold, estimated shipping costs and Amazon fees. Unless you say otherwise, this will act as your floor price, ending pricing wars before they start.
- Nearly infinite combinations of Pricing Rules that you can apply to any combination of Smart Lists.
Experimentation
Sellery has the power to apply any strategy you can imagine. But it’s up to you to find the strategies that work best for your inventory.
Think of yourself like a scientist. Use the power of software to apply the repricing strategies you create and then quickly make adjustments based on the results.
- You wouldn’t sell Christmas decorations for the same price in December as you would during March, would you?
- There’s probably room to increase the price of an item that showed up on Oprah’s Favorite Things List, right?
- It could be profitable to reduce prices on inventory that’s about to be hit with a long-term FBA storage fees, don’t you think?
- Do you price items with no competing offers the same as items with 10 other sellers?
Applying your knowledge is the key to successful Intelligent Repricing.
Real Results for Real Sellers
Sellery produces real results for real Amazon sellers just like you. Look at the graph below to see how one Sellery user’s sales increased after he started intelligently repricing.
Sellery can do the same for you.
Learn more about Sellery and start a 2-week trial today.
During your trial, our dedicated Help Team will show you everything Sellery can do. They’ll be available to answer any questions you have and to help you get Sellery up and running.
And even after your trial is over, they’ll be just an email away, at no extra cost. They’re here to help you!