On a marketplace as price-sensitive as Amazon, you need to be able to optimize your prices 24/7. But as we never tire of pointing out, not all Amazon repricing software tools are created equal. Today we’ll go over some must-have Amazon repricer features to remind sellers what to look for when choosing an Amazon repricer.
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What Is an Amazon Repricing Tool?
At its most basic level, Amazon repricing software is an application that alters the price of your listed products automatically. Virtually everyone on Amazon uses one to keep their competitive edge and have a shot at the This refers to the situation where a sel… More. But they don’t all work the same. Even some of the tools with the best Amazon repricer features fail to win, keep, or make the most of the Buy Box.
What Does a Repricer Do?
In a nutshell, Amazon repricing software looks at competing offers and market conditions, determines your best price point, and pushes a price change on Amazon. It does this around the clock, with very little input from you. Your price won’t necessarily be better than the competition’s, but it will be the best price you can offer, based on things like market demand, the number of competitors, other prices, sales velocity and more.
Do I Need a Repricer?
Most likely, yes. It’s all but impossible to have competitive prices on Amazon without relying on automation. Sellers don’t mind spending on the most expensive tools, with the best Amazon repricer features, just as long as it gives them the upper edge. So, challengers are under constant pressure to keep up with automated price changes.
If you’re wondering how badly you need a repricer for Amazon, there are a few things to consider. Every seller’s different, and so are their software needs. But if you fulfill all of these 7 criteria, it’s safe to say you should seriously consider trying an Amazon repricing software tool:
- You sell or want to sell on Amazon.
- You’re competing with others to sell the same product on the same listing.
- You’re selling a This is what you call products manufactu… More item that’s very similar to other products.
- You have a great variety of SKUs or a very large inventory.
- You want to increase your sales and profits.
- You want to win the This refers to the situation where a sel… More without lowering profits.
- You want to understand your Amazon Business is Amazon’s wholesale … More better.
What to Look For When Choosing an Amazon Repricer
Once you’ve made up your mind about trying some Amazon repricing software, it’s just a matter of finding the right tool for your business. And that will come down to about 10 factors. Here’s what to look for when choosing an Amazon repricer:
You might not have dreams of global expansion now, but thanks to unified accounts, the global selling infrastructure, and the BIL tool for ported listings, selling internationally is a very real possibility. So, your chosen Amazon repricer should cover the marketplace you’re selling on today, as well as the ones you plan to expand to.
Budget and Subscription Plan
As you’re budgeting for your business software, make sure to include the cost of the Amazon repricer.
Some developers charge a one-off fee, others have a flat fee, and others will base their price on fluctuating parameters like sales volume. Some offer monthly subscriptions, while others come with yearly deals.
Data Collection and Repricing Speed
If speed truly is “the essence of being successful”, then you need a repricer that makes the most of Amazon APIs. One that collects data every 5-15 min., checks it, adjusts your prices based on algorithms or on proven rules, and sends the new prices back to Amazon as soon as possible.
Price Update Speed
Being the first to drop a price doesn’t make much of a difference if your Amazon repricer doesn’t update right away and push a new price out quickly. There are some repricers out there that will only update prices once an hour. Make sure you understand your repricer’s limitations before you commit to a subscription.
Flexible and Highly Customizable
We like to say the only constant on Amazon is change. Take, for instance, sales tax changes, listing purges, and metrics requirements. Well, whenever Amazon changes, sellers must adapt their pricing strategy. With Sellery, it’s just a matter of tweaking some Pricing Rules. That is, selecting new competition filters, This refers to the situation where a sel… More strategies, and exceptions. It only takes minutes.
Simple and Easy-to-Use
Amazon is a vast environment with its own lingo and rules. To make the most of it, alternatively, you might want to look for a repricer that keeps it simple, doesn’t use too many newfangled words, and doesn’t make it hard for you to understand how to set it up.
With BuyBoxBuddy, a friendly and easy to use type of repricer, it only takes a few minutes to start repricing. You only need to set your price limits as shown in the graphic below.
Some Amazon repricers will ask you only to set your minimum and maximum price limits. These are suitable for sellers who have just started selling on Amazon, or those who are prioritizing ease of use and simplicity over being able to customize the strategy in very small details.
Propensity for Price Wars
Price wars can really dig into profits. So, it’s essential to make sure you choose a repricer that won’t drag your price down and lose you money, just to win the Buy Box. BuyBoxBuddy, for instance, will gradually increase your price once you win the This refers to the situation where a sel… More. So, ask the developers about their algorithms or look into the way the repricer is set up in order to make sure they are not taking your business into price wars.
You might be surprised to find your chosen Amazon repricing software only comes with an e-manual.
When it comes to SellerEngine, our support teams are based on 2 continents, covering most time zones and it’s renowned for offering stellar support as well as Amazon repricing strategy advice and guidance all at no extra cost.
We also offer phone support with dedicated Amazon repricing strategy consultancy for both Sellery and BuyBoxBuddy, even for free trial users. And post-sale support is also available. We follow up with monthly check-in calls and consultations from our Amazon Experts.
Most repricers come with a free trial offer. But make sure it comes with all the Amazon repricer features of the full version. When signing up, you shouldn’t be asked you for credit card details. And you should be able to access phone and email support from industry experts throughout the free trial period. Sellery and BuyBoxBuddy tick all those boxes.
7 Features of Amazon Repricing Software To Look For
Amazon repricer features matter. With fierce competition, your choice of Amazon repricing software can affect the success of your business. To maximize your chances of success, make sure your Amazon repricer comes with at least these 7 basic features:
Supports FBA vs. Non-FBA Repricing
As mentioned in our 2022 Complete Guide to Amazon Seller Fees, your fulfillment channel matters. It will determine the fees you pay, the margins you make, and who you’re up against on the offers page. But not all repricers take fulfillment-specific costs and challenges into account.
Competes Against Amazon
Sellers often end up competing with Amazon itself. This is a special type of rivalry; one that repricers don’t handle very well. Luckily, it’s something Sellery specializes in. To our knowledge, it’s also a feature specific to Sellery.
Shows Stock Level, Age, and Sales Velocity
Prices aren’t everything. Sometimes it’s your sales velocity and stock levels that bring you down. These go hand in hand with the age of the inventory. With Sellery, a few simple tweaks can help you shift slow-movers and boost velocity.
Schedules Repricing Campaigns
One way to boost sales is to schedule your price changes for specific times of day, like when your buyers tend to do most of their online shopping.
If you are looking to have such control over how and when you want your Amazon inventory to be repriced, your repricer should offer you a section similar to the one displayed below. As explained on this page, you can use it to tell Sellery when to tweak prices, based on days and time intervals, to get the margins and markups you want.
Amazon uses an algorithm to determine who gets the This refers to the situation where a sel… More and when.
But Buy Box eligibility and rotation are two concepts, not all repricers are equipped for. Amazon repricers like Sellery or BuyBoxBuddy come not only with pricing techniques but with specially built algorithms that manage Amazon Buy Box rotation scenarios.
What happens when Amazon comes up with new rules, metrics, fees, taxes, and listing restrictions?
Well, you need a flexible and customizable Amazon repricing software that will always stay relevant. In fact, if you don’t know what to look for when choosing an Amazon repricer, you might want to start there.
For us at SellerEngine, this year marks 20 years of service to Amazon sellers.
That’s 2 decades’ worth of knowledge and expertise distilled in innovative Amazon repricer features. It’s what gives us the confidence to say that, whatever the challenge, our technology and our SellerEngine Services crew will be here to see you through.
Melanie takes an active interest in all things Amazon. She keeps an eye on the latest developments and keeps Amazon sellers up to speed.