{"id":4772,"date":"2014-10-01T16:49:48","date_gmt":"2014-10-01T15:49:48","guid":{"rendered":"http:\/\/www.repricerexpress.com\/?p=4772"},"modified":"2020-06-23T23:35:47","modified_gmt":"2020-06-23T22:35:47","slug":"amazon-customer-perceptions","status":"publish","type":"post","link":"https:\/\/www.repricerexpress.com\/amazon-customer-perceptions\/","title":{"rendered":"Amazon Customer Perceptions"},"content":{"rendered":"

Before starting any business venture, one of the most common pieces of advice is to do your research. There will always be a learning curve when entering into unknown territory, but the more you can learn about beforehand, the better able you\u2019ll be to anticipate situations and deal with surprises. Because repricing<\/a> tends to be a fairly solitary activity, with merchants gathering their data from competitors to perform their actions, it\u2019s important to understand just why<\/em> the practice is so vital. And to do that, you need to go into your buyers\u2019 minds and learn why they\u2019re so fond of competitive pricing.<\/strong><\/p>\n

What Drives Consumers When Shopping?<\/h2>\n

In economics, there are two basic push-and-pull forces that set the market into action: supply, and demand. When you\u2019ve got more products than consumers want, that drives your prices down; the opposite occurs when the public can\u2019t get enough of a certain thing (e.g. Tickle-Me-Elmo, Beanie Babies).<\/p>\n

When you\u2019re dealing with a market that\u2019s heavier on demand, you\u2019ve just been dealt all aces. Unfortunately, that situation doesn\u2019t crop up very often \u2014 especially if you\u2019re selling on Amazon and facing stiff competition \u2014 so you\u2019ve got to come up with plans to deal with the subtleties.<\/p>\n

When dealing with a market that\u2019s more focused on supply (aka a buyer\u2019s market), then the landscape can be further subdivided like this:<\/p>\n