All posts in “reprice”

7 reasons for automatic repricing, even with a small inventory

Reading Time: 2 minutes

intelligent repricing

 

Ask any number of sellers which are the major factors that contribute to one’s online success, and the majority would always name repricing amongst them. Whether you do it by hand, or automatically, repricing is important because it takes a large number of aspects into account.
At SellerEngine, we focus on a subset of automatic repricing that we like to call Intelligent Repricing.

 

 

Continue Reading…

Are you getting the most out of your Amazon repricer?

Reading Time: 2 minutes

When it comes to selling on any Amazon venue, having repricing software that you can trust is key. This is doubly true when it comes to selling globally. You’ll need software that works with every Amazon venue that you’re selling on. You’ll need to be able to reprice all of your items quickly and accurately according to your competition.

Unfortunately, finding your way around an Amazon repricer can sometimes be complicated and frustrating. We want to make our software as user friendly as possible; which is why we are introducing our new Getting Started Checklist Guide.

Read more to learn how you can make the most out of Sellery with its new Checklist Guide.
Continue Reading…

See What’s New in Sellery!

Reading Time: 2 minutes

Is it the FBA or the FBM Buy Box?

Thanks to some behind-the-scenes magic, Sellery can tell you whether the Buy Box offer is FBB or MFN.

FBM Buy Box

You’ll be able to create smart lists and reprice accordingly.

ifbbismfn

You can even take the buy box fulfillment channel into account when creating special cases.

Always Keep an Eye on the Lowest Prices

Check out the new tab in Sellery’s inventory view, Buy Box + Lowest Prices.

Buy Box and Lowest Prices!

You’ll see the lowest used and new prices, as well as the buy box offers and their fulfillment channel.

Even better? You can use the prices shown here as a variable when creating pricing rules and smart lists.

Below you can see how you can use any combination of condition and fulfillment channel when leveraging lowest price in a pricing strategy.

Pricing Strategy

Get Started Today

Sellery is the Amazon repricing tool that will win you the craved Amazon Buy Box, and make sure you don’t give in to your competitors. With smart filters that monitor the market and react to changes instantly, reassigning pricing strategies to secure your most profitable and most competitive position, the Buy Box is in the bag.

Want to see how Sellery can help your business grow?

Sign up for a free trial today!

Or email us with any questions you might have.

+Paul Cole

More Answers to Your Amazon Questions

Reading Time: 3 minutes

Q: When does FBA not make sense?

A: Everyone loves FBA! It makes selling on Amazon easy! But, it isn’t always the best choice.

In our last Q&A, I mentioned that orders for fragile, high value items, like rare books, might be better to fulfill yourself. That’s because you may not want to trust Amazon to do a great job packing these expensive and breakable items.

Some sellers who specialize in toys have stopped selling some LEGO sets through FBA. Unfortunately this is because some unscrupulous buyers will purchase full sets, remove the valuable mini-figs (jargon for LEGO men) and then return the sets for a refund. Amazon has a poor track record in these situations, allowing returns for items that aren’t complete and often failing to do their best to protect sellers. If you fulfill items yourself, you’ll have more control over your return policy and will be able to better inspect returned items yourself.

And under no circumstances should any seller take part in Amazon’s FBA stickerless commingled inventory program. The risks are just too high. It really can cost you your entire business.

Note: Read Amazon’s documentation to learn more about stickerless, commingled inventory. 

Overall, my advice would be to use FBA for most items. It’s very safe and a great way to reach those valuable Prime customers. But, in situations where you expose yourself to significant risk, consider selling MFN.

But beyond that, compare fulfillment costs. Use the FBA Revenue calculator to compare the fees and costs associated with shipping an item yourself versus FBA.

Q: What are the best places to scout?

A: Without knowing where you’re located and what stores you have available to you, I can’t be too specific. But I’ll do my best to give you some guidelines of places to start.

  • Thrift Shops – Goodwill is especially popular, but now that Goodwill is selling online, the pickings can be slim in some parts of the company. Smaller, local thrift stores can be better options.
  • Big Box Stores – If you have a lot of Target and Walmart locations nearby you might be in luck! The clearance sales at these stores can be very profitable.
  • Discount Stores – TJ Maxx, Marshall’s, Big Lots and other stores can have very low prices. Stock varies widely from store-to-store, so they can be very hit or miss.
  • Library and Book Sales – These can be a real madhouse with lots of people looking for inventory or just buying for their own personal collections. But they’re popular for a reason and can have great deals. Be mindful of condition, however. Amazon’s guidelines state that no former library books can be sold as collectible.
  • Farmers’ Markets and Craft Shows – If you’re ready to start buying UPCs and creating product bundles, farmers’ markets, craft shows and other places where you can connect with artists and creators can be great sourcing opportunities. Look for popular locally made items. Search out niche items that aren’t available anywhere else. Negotiate and make deals to be an exclusive Amazon supplier.

More important, however, is to explore your area and find what’s available to you. If you live 100 miles away from the nearest Walmart, then you probably won’t be doing most of your scouting there. Don’t waste time grumbling about what isn’t in your area.

Instead focus on what you do have nearby. Look for the opportunities in your area! They’re there, you just have to find them!

Q: What is the best method to raise a price that is “floored?”

A: For those reading this who don’t understand the question, let me start by explaining it. A “floored” price is one where increased competition has resulted in a price that has gotten lower and lower, until for whatever reason, it isn’t going any lower.

So, how do you break out of that situation?

First, you should be ready to accept that it might not be possible. You need to be ready to sell your remaining stock at a low price, hoping to just break even.

If you’re not willing to do that, you should actually raise your price. Hopefully your competitors will either follow your lead or will sell out, leaving you to sell at a better price.

Q: What is the future of FBA? Will it burn out like media?

A: I love this question! I spent a lot of time thinking about it and it is just too big to answer here. Look for the answer on the blog next week.

Putting it All Together — Sellery’s Pricing Overview

Reading Time: 3 minutes

In this Sellery tutorial we will be taking a look at the Pricing Overview. You can find your Pricing Overview under Settings on the left hand side, right under Pricing Rules.

Where to find pricing overview

What is the Pricing Overview?

The Pricing Overview is where you get to apply your pricing rules to your inventory, or more specifically to your smart lists.

For those of you that haven’t learned about smart lists or pricing rules yet, I suggest you do that before diving too deeply into the Pricing Overview.

Moving on from that, the first thing that we see is a list of all the different venues that we sell on. This is because we can define different strategies for different venues. Or if you’d rather, you can create a single strategy for all of the venues that you sell on.

When you first go to Pricing Overview, you will see a single box that says “What to List: Whole Inventory.”

What to List? Whole Inventory

To add an additional strategy hit the Plus sign. You can choose a smart list and apply a specific pricing rule to it.

Choose a smart list!Apply a pricing rule!

You may see a warning pop up that says, “The Whole Inventory option must go at the end of the list of options.” You can click and drag that box to the bottom to make the warning go away.

What this means is that this view is a prioritized list. This is because items can fall into multiple smart lists. Sellery reprices by working its way through this prioritized list, starting at the top. “Whole Inventory” works as a catchall, anything that hasn’t been repriced by the time Sellery works through the prioritized list will be repriced by the pricing rule you select here.

In addition to pairing smart lists and pricing rule, you can add specific markups or margins. If you’d like to create a discount use a negative markup. A warning will let you know that using a negative markup may cause you to lose money.

Uh-oh! Negative Markup

Additional Options

Other tools available to you are the “do not list” and “ignore” funcitons.

Do Not List and ignore

“Do not list” does just that. If you have a group of items you DO NOT want listed, apply the pricing rule “Do Not List.” They will be delisted from Amazon and won’t be available for purchase.

The other option is to “Ignore.” This means that it is fine to keep these items listed, but Sellery will not adjust the price of these items.

The Final Word on the Pricing Overview

In your pricing overview, you match up pricing rules with smart lists. The pricing overview is a prioritized list because items can fall into multiple smart lists. The order tells Sellery which pricing rule to use when that is the case. Whole inventory always goes at the bottom to catch everything else that isn’t covered by the additional pairings you create.

Start using Sellery and start repricing smarter.

+Paul Cole

 

Automated & Customizable File Exports from Sellery

Reading Time: 3 minutes

All About File Exports

If you’re only using Sellery to reprice your inventory, you’re missing out on some key features.

This Sellery tutorial is about how to use custom file exports. Exports allow you to create a file of any or all of your inventory that contains information about those inventory items. If that sounds vague, that’s only because exports are incredibly customizable.

Let’s start by navigating to Settings in Sellery and finding Exports on the left-hand side.

Sellery Exports

When you first visit Exports, all you’ll see is an option to “add export.” Let’s create an export together. I want to see my sales in the last 7 days — the actual number of items sold in that particular amount of time, so I’m going to name my export

After adding an export, you can choose what data you want to see in this file. By default Sellery includes only your SKU. If I didn’t want to see SKU in this file, I can hover over it and click the minus that pops up to delete it.

Deleting Columns

By clicking the Plus, I can now add whatever details I do want to see. Each piece of data you add will show up as a column in the final exported file.

Adding data to file exports

Once you’ve added all the data you want, you can click and drag these labels around. By doing so you are configuring what the exported file is going to look like. Once you open it in Excel (or another spreadsheet editing program), this is the order of the columns that you’ll see.

Ordering columns

And now I can choose which smart list to export, or my whole inventory.

Choosing smart lists to export

Now you have a few options. You can click Export Now and in just a minute you’ll be able to download the results of the export.

You’ll be taken to the Recent Exports tab for download. There you can also download older exports.

Recent Exports

You can also can set exports up to run automatically on a schedule and you can change the frequency of how often you want this export to be produced. The export we just made can be run weekly, since it is sales in the last 7 days. So you can run it every Sunday at 12AM.

Scheduling an Export

If I have multiple accounts set up in Sellery, I can notify specific users when an export is completed. Check the box to any or all names and each user will receive an email with a link to download the export when it is completed.

Choosing users to export

Check out this article for more ideas on how you can use custom file exports in Sellery.

Start using Sellery and start repricing smarter.

+Paul Cole

Competitor Identity in Sellery

Reading Time: 2 minutes

Do you really know your competition?

Depending on the repricing software you use, you might know whether they’re FBA or MFN sellers and their feedback percentage. But don’t you want to know who they really are?

Now, if you reprice using Sellery, you can. We’ve added an experimental feature that identifies your top competitors by name. You’ll know exactly who you’re competing against!

You can start using this feature by seeing specific sellers identified in Sellery’s inventory view.

Seller Identity in Sellery

And even better, you can even choose the sellers you want to compete against when creating repricing rules.

Competitor Identity in Sellery

Making Seller Identity Work for You

You may know that some sellers tend to undercut your prices, resulting in an unwanted race to the bottom. Filter out these sellers and avoid repricing and competing against them.

Have you noticed sellers who seem to have a pricing strategy that’s seemingly out of left field? Avoid pricing based on these sellers’ offers and set a price that’s more in line with the rest of the available offers.

Or are their specific sellers who you want to compete with? Target their offers when creating your repricing rules.

When looking in your inventory view, if you see an offer that’s violating a MAP agreement, use knowledge of the seller’s identity to report them to your account representative.

Getting Started

Want to start identifying your competitors in Sellery? Enable Seller Identity in Sellery’s general settings.

Or if you don’t use Sellery yet, start your 2-week free trial today. We’ll give you all the help you need to get your business strategies up and running and answer any questions you have about using Sellery to grow your business.

Want to Know More?

If you’d like to learn more about Seller Identity or any of Sellery’s other features or how Sellery can help you, email sellery@sellerengine.com or call (503) 451-6043.

We’re here to help!

Top 5 Myths about Amazon Repricing Software

Reading Time: 4 minutes

Truth Behind Amazon Repricing Myths

Myth #1: Repricers only lower prices.

Fact: Sometimes I feel like “repricing” is a 4-letter word for many Amazon sellers.

At it’s core, repricing isn’t anything sinister or scary. It’s just the simple act of adjusting your price on an Amazon offer. Of course, when most sellers talk about “repricing” or “repricers” they mean automated tools, like Sellery or SellerEngine Plus.

The best repricing software programs don’t just lower prices. There are many situations where repricing software makes it easy to raise your prices:

Raising Prices with Repricers

Click to enlarge

Imagine if you made an extra 15% profit on every sale.

And what would your bottom line look like if you were able to make 10 more sales per day?

You can do this by lowering prices a few pennies and then raising prices again, as the competitive landscape evolves.

That’s just a taste of what’s possible by using automated repricing software!

Repricing software helps you to maximize the value of each sale and it helps you make sales that you didn’t even know you were missing.

Myth #2: I don’t have enough SKUs to bother with repricing software.

Fact: If you’re spending time, every day or even every week, tinkering with your items’ prices, that is time that can be better spent scouting for inventory or doing something else to grow your business.

And on top of the time you’ll save, with the right repricing rules, you’ll be making more money by using repricing software. With the right software, you’ll be able to reprice around the clock, even when you’re sleeping or on vacation.

And over time, as you grow your Amazon business, you’ll be glad that you set up your automatic repricing software sooner, rather than later!

Myth #3: Repricers can make sellers lose money.

Fact: The truth is that repricing software that isn’t configured properly can result in errors that cause you to lose money.

But in our experience, sellers who manually reprice their items can cause lost profits as well. How many times have you heard about a seller accidentally selling an item for $1.00 instead of $100? It’s just a little typo, but the costs to your business can be huge.

Sellery uses your cost, estimated shipping, Amazon fees and more to calculate a minimum price unique to each item. It acts as a lower limit that Sellery won’t price lower than, unless you specifically tell it to.

Sellery Warning You May Lose Money

And just as important as lower limits are repricing limits. Without them, you might end up with something like this, which was caused by repricing software without an upper limit:

outstanding prices on amazon

And while that might seem funny, remember that if a buyer came long looking to buy that book, the seller missed out on a sale. Using an automatic repricer that had an upper limit of 20 times the item’s original cost (or any other value) might’ve made the seller $100- $200 or even more.

Remember, a price that’s too high can be nearly as dangerous as one that’s too low.

Myth #4: I like to be in control and repricers do too much automatically.

Fact: Even automated repricing software programs like SellerEngine Plus and Sellery require you to take time to set them up. You’ll input your item costs, set upper and lower limits for your prices and create repricing rules specific to your business. These are the keys to successfully using repricing software.

In the time that it takes you to manually reprice all of your SKUs, you can talk to a member of the SellerEngine Help Team.

Tell them about your business, let them know your unique needs and learn how to set up pricing rules, strategies and schemas to reprice listings exactly the way you want them.

Myth #5: Repricers are why penny books exist.

Fact: Penny books are caused by a number of factors. The biggest is competition. If there are 100 sellers out there all trying to sell the same Stephen King book, you better believe that some of them are going to cut their prices to make sales.

Stephen King Penny Book

Some sellers of penny books will have warehouses big enough to let them make a few cents on a book (by cutting costs on shipping and packaging) as long as they can do it a few hundred (or a few thousand) times a day.

Then there are sellers who use penny books as a way to build up positive feedback, accepting a small loss as the cost of getting good feedback, which can be valuable over the long run as they sell items with higher returns and risks.

Penny books may also be sold by sellers who use their sales to market their own websites or other products to their buyers.

And then, don’t discount the sellers who just don’t know or care that they’re losing money, for whatever reason.

As one of the most knowledgable Amazon sellers I know says, “Not everyone is selling on Amazon for the same reason that you are.” You can’t know their motives or business just by seeing a paperback being sold for $.01.

Conclusion: The Truth about Amazon Repricing Software

Just like every tool that you use to run your Amazon business, from a pair of scissors to your laser printer, an automated repricer should make your life easier and should add value.

Remember that all automatic repricing software isn’t created equal. Repricing software is an investment of time and money and like any investment in your business, do your research. Find software that you’re comfortable with and commit the time needed to learn how to get the most out of it.

If you’re interested in learning more about SellerEngine Plus or Sellery, email support@sellerengine.com to learn how you can take our automated repricing software for a spin.

What is Sellery? How can Repricing Help You?

Reading Time: 1 minute

What is Sellery?

Do you want to learn more about repricing? Here’s a slideshow from a presentation we gave to the OSI Rockstars. We showed them everything that Sellery can do and now we want to share that with you, too.

Sellery dynamically manages and reprices your inventory on all Amazon venues using information that matters to you. Sellery lives in the cloud and works around the clock, so you don’t have to.

Email us to learn more about how you can get started using Sellery.