Editor’s Note: Originally published on July 19, 2019, updated on Mar. 21, 2023.
With Easter Deals under way and Prime Day 2023 drawing near, it’s time to put together your pricing strategy. But let’s talk about it from the perspective of a Private Label seller. If you’re a brand owner in need of some inspiration, read on and pay close attention to our PL seller tips.
Earlier in the year, we discussed the prevalence of Private Label and how brand owners compete with Amazon’s own brands. But what about all the other Private Label sellers out there? How can you find the sweet spot, keep that optimal price, and stay one step ahead of the crowd?
Why Repricing Matters
Brand Registry comes with great benefits like searching ASINs in bulk and the option to remove counterfeit listings. But some PL sellers go one step further and pay for Transparency. It gives them extra protection from counterfeiters, but it also raises the bar for all brand owners.
This service involves issuing QR codes that are checked for authenticity in fulfillment centers. It comes with a Transparency app for buyers. PL sellers can leverage it to reveal the item’s journey from manufacturer to delivery, engage with buyers, receive feedback, and up-sell.
Transparency enables the big PL sellers who can afford the fees, QA, and printing to stand out from the crowd and gain more competitive advantage. But how can small PL sellers compete? By using repricing software, of course. But not just any old software tool.
Small Private Label sellers need cutting-edge tools with features designed specifically for brand owners. Classic repricers won’t work. That’s because PL sellers don’t compete on the same ASIN, like other merchants. They compete on products that are similar or fulfill the same need.
How Repricers Like Sellery Can Help
Sellery gives you full visibility over costs, enabling you to set up your floor prices in bulk and then reprice in real time. What’s more, it features PL-specific solutions to help decide which offers to go up against and when. So, you never lose money.
You can deploy Sellery in a variety of scenarios, carrying out different types of strategies against any competitor or product on most Amazon venues. Here are some simple pricing tips and tricks for PL sellers:
- Compete against similar ASINs. With Sellery, you simply look up keywords and select your best matches, as seen below and explained here.
| Note: Sellery reprices against items, not sellers. It can take several ASINs into account, even Amazon’s absolute lowest price, but exclude Buy Box prices. |
- Change your price based on sales velocity. The higher the search rank, the higher the sales velocity, and vice-versa. Lower your prices if sales drop, or try raising them slightly if there’s a surge in sales. To do so with Sellery, simply create Smartlists based on units sold.
- Adjust your price according to stock levels. Suppose you want to lower prices for old FBA items and avoid paying overage fees if your IPI drops. Or maybe you want to keep a constant supply of top sellers.
- Watch out for Transparency codes. Sellery can’t help you find other PL sellers who signed up to Transparency. But it will easily disregard their offers. Just place test orders and check incoming mail for QR codes. If you find Transparency codes, blacklist the sellers in Sellery.
- Learn your software tool’s quirks. Every repricer is different. With Sellery, once you have your Smartlists and your blacklists ready, you can start setting your rules as you see fit. We offer helpful hints in our Pricing Overview video and several repricing videos on our website.
That covers the basics of pricing on Amazon as a PL seller. If you like the thought of having a “set it and forget it” type of tool like Sellery, just get in touch. We can make it happen for you and make selling Private Label on Prime Day 2023 easier.
Melanie takes an active interest in all things Amazon. She keeps an eye on the latest developments and keeps Amazon sellers up to speed.