All posts in “Software”

See What’s New in Sellery!

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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

What to Look for in Repricing Software

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Ed. Note – Before reading any further, check out this article that will help you understand what repricing really is (and isn’t.)

More and more Amazon sellers are turning to repricing software to increase their profits, boost sales and to help them remain competitive as the number of offers on many items continues to grow. But choosing repricing software can be confusing.

Making the wrong choice can be frustrating, confusing and even costly. The right repricing software for you should save you time and make you money.

Know What You Need

Before looking at the options available to you, evaluate your needs.

  • How many items are in your inventory? Bigger inventories will require more powerful software.
  • How much automation do you need? Do you prefer to have total control over your prices? If so, you may not be interested in a solution that only allows automatic repricing. But remember to be flexible. Just because you’ve always repriced items manually doesn’t mean that’s the best or most efficient method. Be open to adjusting your workflow if it will save you time and make you money.
  • What products do you sell and what is your business model? Is your business based around retail arbitrage and lots of one-off sales? Do you have wholesale contracts that allow you access to a steady supply of inventory? A little bit of both? You’ll need to understand how repricing software fits into your business model. You’ll find that some tools are better than others at repricing groups of similar items, rather than lots of unrelated items.
  • How many Amazon marketplaces to you sell on? If you’re a global Amazon seller, you’ll need software that can keep up. You don’t want to have to deal with multiple tools to manage your listings on different marketplaces. Look for an all-in-one solution.
  • What’s your budget? Depending on the size of your business, you may need to start with lower-cost repricing solution. Know what you’re willing to pay, but also remember that higher-priced solutions may offer additional benefits. Paying $100 a month may seem like a lot to some sellers, but if you end up saving an hour or two a day, that software can pay for itself in the extra time you have to go out and scout.
  • How do you run your business? Are you online everyday? Do you use Windows or Apple computers? Do you need a cloud-based solution that can be accessed by multiple employees? Is your Internet connection reliable?

The Basics

All software isn’t created equal. Here are important questions you should ask first.

  • What platforms does the software run on? Is it for Windows or Apple computers? Can you access it from your smartphone or tablet? Is it cloud-based or do you download it and run it from your computer.
  • What support is available? Is support email or phone-based? Is additional set-up and installation help available?
  • How much does it cost? Is there a flat monthly charge or are you charged based on your monthly sales? Are there any additional set-up fees? Is there a contract or are you free to cancel or change your service at any time?

The Nitty Gritty

  • Is there a minimum price? A minimum or floor price is what keeps your repricing software from making sales that lose money. Find out if it is calculated automatically or if you have to set it yourself.
  • How flexible are the repricing rules? What options are available to you? Can you reprice up or down, depending on the situation?
  • Factoring in and filtering the competition? Are you able to compete with exactly the sellers you want to? Can you identify and filter the competition by name? Can you specifically compete with or ignore Amazon’s offer? Can you ignore items in better or worse condition?
  • Inventory management? Does the software track your orders? What keeps you from selling the same item twice?
  • FBA? How does the software fit into your workflow? Does it print labels/manage shipments? Does it work alongside other software programs or does it integrate with the tools you already use?
  • The Buy Box? Winning the buy box is a key to selling (and profiting) on Amazon. Does the software you’re looking at have options that let you specifically compete for the buy box?
  • Repricing speed? How many SKUs can be repriced per hour? If you have  a huge inventory, you’ll need a repricer that can keep up. If you’re only repricing a small fraction of your inventory every hour, then you’ll be missing out on profits.

Once you know the answers to these questions, you’ll be able to make an informed decision about the repricing software that’s right for you.

Did I miss something? Tell me what you look for in the software that powers your Amazon business.

+Paul Cole

Let’s Talk Costs!

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Do You Know Your Costs?

How much time do you spend thinking about all the costs associated with running your Amazon business? It can be easy to focus more on the fun stuff, namely the money coming in each month. But understanding all of your costs, beyond just what you’re paying for your inventory, is the key to maximizing your profits and growing your business.

Try this exercise:

Take a few minutes and think about the products in your inventory:

  • Do you know exactly how much you paid for each of them?
  • Do you know how much it costs to fulfill an order for each of them?
  • Do you know the Amazon fees associated with all of your products? What percentage does Amazon charge? How much do you pay for inbound FBA shipping?
  • Do you know your return rate?

If you don’t know the answers to these questions, then you can’t really know how much money you’re making. And without knowing your costs you also can’t make informed pricing decisions.

If you set prices without full knowledge of your costs, you’re not selling, you’re gambling.

Costs aren’t Created Equal!

Even if you do know your costs right now, remember that many costs change over time. If you’re not vigilant, changes that affect your bottom line can take place right under your nose.

  • Amazon’s fees aren’t static. Earlier this year Amazon introduced new definitions for oversized items, splitting them into several categories, including Small Oversize and Large Oversize. This caused the Amazon fees on millions of items to change.
  • Changes to your shipping cost can happen if there’s a new fuel surcharge from UPS. Or if you use Amazon’s discounted shipping, make sure you’re keeping a close eye on your costs. Remember that costs can vary based on which fulfillment center you’re shipping to.
  • International mail rates change all the time. Pay attention to what you’re paying to ship overseas and build the costs into your prices! Otherwise you could end up losing money on what could otherwise be a very profitable sale.

What Can You Do?

If you haven’t already, develop an accounting system that works for you. Whether it’s software like Quickbooks or a simple spreadsheet, you need to be able to track your inventory and all the associated costs and income.

Once you have a system in place, use it to your advantage!

As you recognize that costs are changing or that an item isn’t as profitable as you thought it was, take action. That might mean raising your prices, looking for ways to cut costs or even liquidating inventory before you take too big of a loss.

Sellery Tutorial – Pricing Rules

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What are Pricing Rules?

To reprice using Sellery, you create smart lists, that tell Sellery what to reprice. Then you create pricing rules, that tell Sellery how to reprice.

Pricing rules are made up of four components and we’ll go through each of them in this article.

  • Competition filters
  • Pricing strategies
  • Buy Box rules
  • Special cases

Getting Started

Pricing rules are found in settings, about halfway down.

Pricing Rules in Sellery

If you have existing pricing rules, you can rename them or delete them. You can also create new pricing rules as well.

Let’s start by creating a new pricing rule. We’ll call it “example FBA.”

New Pricing Rule in Sellery

Competition Filters

First, we’ll start by filtering the competition. Competition filters allow you to exclude sellers, listings and offers that you don’t want to price against. For example in this case, we don’t want to compete against non-FBA offers or offers that are for items in worse condition than our item.

Competition Filters

Now we’re going to move on to our pricing strategy.

Pricing Strategy

Under pricing strategy you will create the core strategy for this pricing rule. We need to define the price that we’re going to compete against, known as the competition price. So after filtering, we will take the lowest price (we also have the option of the using the average of the remaining offers or  the average of the lowest X number of offers).

Pricing Strategy

We’re simply going to take the lowest price and set our price to be 1% higher than the competition price.

And if there is no competition, we will tell Sellery to price our item 100% above our minimum price. Other options for this case include using a multiple of your cost, a fixed dollar amount above your minimum price and more.

Now we’re ready to set our buy box strategy.

Buy Box Strategy

For everyone who wants to get the buy box because it boosts sales, here is where you do it.

The buy box tab is very important to many sellers’ strategies. The rules you set here react specifically to the buy box price and override all other rules, which is very important to remember.

If Amazon (also known as Megaseller in Sellery), you may want to be very aggressive, or you may realize that you simply can’t be aggressive enough because competing with Amazon is so difficult.

If another seller (not Amazon) has the buy box, you can you can do the same thing, either adjust your price, use your normal strategy or not make any changes to your price.

The same goes for the cases when you have the buy box.

Below, you’ll see a simple buy box strategy. A variation of which is used by many sellers who specifically target the buy box. In this strategy, we are undercutting Amazon in an attempt to steal the buy box, matching other sellers to get into the buy box rotation and raising prices when we have the buy box, in an attempt to maximize profits and avoid a race to the bottom.

Buy Box Strategies

Finally, we’ll take a look at special cases.

Special Cases

Special cases describe exceptions to your pricing rules and allow you to specify alternate strategies. One common example, is a core strategy that is constrained by limits. Some sellers may have a ceiling that they don’t want to price above, or a MAP that governs how low they can  price.

You can set as many special cases as you want, but be aware that special cases are a prioritized list. If more than one special case applies, the one nearest to the top will be given preference.

Special Cases

Before you go live with any pricing rule, it’s good idea to preview it. Click preview and see how your price will be adjusted using the strategies you’ve created.

Pricing Rule Preview

Under the Competition tab, you’ll see that some offers are greyed out. Those are offers that have been eliminated through the competition filters that you have created.

Previewed Competition

Conclusion

And that’s everything you need to know about getting started with pricing rules in Sellery.

Remember:

  1. Create your pricing rule.
  2. Filter the competition.
  3. Define your core strategy.
  4. Compete for the buy box.
  5. Identify special cases.
  6. Preview

Start using Sellery and start repricing smarter.

+Paul Cole

Competitor Identity in Sellery

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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!

A Common Amazon Repricing Question

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We hear from lots of Amazon sellers who aren’t sure that any repricing software can meet the unique needs of their business. Sellery from SellerEngine is flexible enough to meet the needs of just about any Amazon seller.

To show you what I mean, I’ll share the story of an Amazon seller who wrote to us recently and then I’ll show how Sellery can implement his strategy.

My Amazon inventory is over 40,000 items. Most of my items are books. Also in my inventory are a few thousand other items that I drop-ship (none of these are books).

For my books, I want to  be the lowest or second-lowest off and not to be lower than $1.00. For my non-book items, I want to mark them up by 250% above my cost.

Is there a way to manage my books and my non-books simultaneously, even though each has unique pricing requirements?

The short answer is yes! And now I’ll show you how.

Start with Smart Lists

In Sellery, we’ll start by creating a “smart list”. Smart lists are groups of inventory items that grow and change automatically. For example, this smart list, which I called Books will contain all items that are books and as new books are added to our inventory, they’ll automatically appear in the Books smart list.

Settings for books in Sellery

 

To keep things simple, since in this example our inventory can be divided into two categories, Books and Drop-Ship Items, we don’t need to create a second smart list.

I’ll show you why later on.

Creating a Pricing Rule

We’ll start by creating a pricing rule called Books and begin by filtering the competition. Without knowing more about the desired strategy, we’ll use a basic filter of simply ignoring the competition with a worse condition.

Competition filter in Sellery

 

Then we’ll set a pricing strategy. This is where we’ll make a slight adjustment to our desired strategy, that will hopefully improve our business.

Instead of attempting to be the lowest or second-lowest, we’ll aim to be the second-lowest by pricing our item a penny ABOVE the lowest cost. This will allow us to be the second-lowest price and will hopefully prevent the race to the bottom that many sellers worry about.

Of course, we’ll also need to account for the situation where there is no competition to price against. In this case, we’ll set our price to be 300% above our cost.

Competition strategy on Amazon

The final part of our pricing rule will be our special case. It is here that we’ll tell Sellery to never price items below $1.00.

Lower limit in sellery

Now, no matter what the results of our repricing rule, the special case will ensure that we never set a price of below $1.00.

Now, we’ll create a pricing rule for our drop ship items; we’ll call it DropShip. Here, the only thing we will need to set will be a special case. That is because we want our price to be independent of our competition. We only want to set our price a certain percentage above our items’ costs.

 

Lower limit in Sellery

Note: By default, Sellery sets your items’ costs to be $50% of their initial price. However, you can easily upload a spreadsheet containing the true costs for your items.

Pricing Overview

Now we’ll combine our pricing rules and our smart lists in the pricing overview.

Pricing Overview

Remember when I said that we only needed to make one smart list? That’s because, in our Pricing Overview, we start by pricing our Books smart list using the Books pricing rule.

Then after those items have been priced, we’ll price everything else in our inventory, known in Sellery as Whole Inventory according to the DropShip pricing rule we created.

That’s it!

Review

By creating a smart list of our books and setting their price to be $.01 above the competition’s price (with a floor price of $1.00) we have managed to reach our goal of being the lowest or second-lowest price and will never price below $1.00.

By uploading our products’ costs, creating a pricing rule based on those costs and then applying that rule to the rest of our inventory, we’re able to reprice our drop ship items exactly how we had planned.

Getting Started with Sellery

If you’d like to learn how to translate your business strategies into smart lists and pricing rules in Sellery, send an email to sellery@sellerengine.com.

Or if you’d like to start your free 2-week trial of Sellery, you can sign up today. Mention this blog post to a member of the Sellery Help Team and they’ll double your trial. That’s a full month of repricing with Sellery, absolutely free.

Top 5 Myths about Amazon Repricing Software

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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.

Scheduling Custom Exports in Sellery

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Recently, we introduced Custom Exports to Sellery users.

Today we’re adding something even more special: the ability to schedule exports so that they run on a regular schedule.

As you can see below, we’ve also introduced the ability to include sales in the past days, weeks, months or years as part of the data featured in your custom exports.

Just select the data you’d like to export and choose the smart list to export. It’s that easy.

Custom Exports

You can also now schedule your imports to run daily, weekly or monthly.

Schedule export

After these exports are generated, you’ll find them under the recent exports tab where they can be downloaded and opened in Excel or any other spreadsheet program.

How can you use scheduled exports?

  • Create pick lists of items that have sold in the past day.
  • Take “sales snapshots” of the marketplace. Export sales in the last day along with data about other offers including Amazon’s own offer.
  • See the in-stock quantity of any or all of your inventory with a daily scheduled export.

And I want to hear your great ideas. Let me know how you’re using Custom and Scheduled Exports to help your business.

Don’t forget to like SellerEngine on Facebook!

How are you using custom exports?

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We’ve just added a very exciting new feature in Sellery: Custom exports!

Go to Settings and look for the Exports item in the menu on the left hand side.

Exports

  1. Add a new export and give it a name to save it.
  2. Then select the data you’d like to see in this custom export. You can choose to export information about an item, your competition and more.
  3. Choose the smart list to export
  4. Click “export to file” and you’re done!

Custom Export Screen in Sellery

How can you use custom exports to your advantage?

  • Create exports of your listing and competition data that you can review and analyze in Excel.
  • Create exports that can be used to update stock on other sales channels, including in your web store, your brick and mortar shops and additional online marketplaces.

And even better will be the next feature that we’re working on: scheduled reports. You’ll be able to schedule your pick lists and sales snapshots to run automatically every day, every week or every month.

How are you going to use custom exports?

Don’t forget to like SellerEngine on Facebook!

What is Sellery? How can Repricing Help You?

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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.