{"id":6405,"date":"2014-12-15T11:36:42","date_gmt":"2014-12-15T11:36:42","guid":{"rendered":"http:\/\/www.repricerexpress.com\/?p=6405"},"modified":"2024-12-16T13:55:47","modified_gmt":"2024-12-16T13:55:47","slug":"repricing-errors","status":"publish","type":"post","link":"https:\/\/www.repricerexpress.com\/repricing-errors\/","title":{"rendered":"How to Avoid Repricing Errors"},"content":{"rendered":"<p><em>Guest post by Diana at <a href=\"http:\/\/www.secondhalfdreams.com\" target=\"_blank\" rel=\"noopener noreferrer\">Second Half Dreams<\/a><\/em><\/p>\n<p><strong>The Update Inventory with the Price &amp; Quantity page explains how the \u201cYour Minimum Price\u201d field works. This optional field helps Amazon identify potential pricing errors with your listings. To use this service, enter your minimum allowable price for this product. If you attempt to set your price for the product below your minimum allowable price, your offer will become inactive and you will be notified via email.<\/strong><\/p>\n<h2>How to Set Your Minimum Price<\/h2>\n<p>I just set mine in my Manage Inventory page. Go to the \u201cYour Minimum Price\u201d column in your inventory page and enter a price.<\/p>\n<p>Here\u2019s how it looks in the\u00a0New Manage Inventory Page:<\/p>\n<p><em><strong>Tip:<\/strong> If you don\u2019t see the column, check click on the \u201cPreferences\u201d button (not shown) and click in the box to enable the column.<\/em><\/p>\n<p>Now, whenever the selling price goes under the minimum price, Amazon will stop the listing and send you an email. I know this works because I received two of those emails. To reactivate the listing, all you need to do is either raise your selling price or lower your minimum price.<\/p>\n<h2>How to Calculate Your Minimum Price<\/h2>\n<p>It takes a while to add minimum prices to my inventory listings but it\u2019s well worth the time. Every few days, I pick a few items and calculate the minimum selling price using the FBA Revenue Calculator.<\/p>\n<p>I do this by entering my buy cost in the \u201cPrep Service\u201d field and then entering different selling prices\u00a0until I find a minimum selling price that I can live with. Most give me a profit of between $1.00 and $3.00.<\/p>\n<p>Keep in mind, the minimum price is not your selling price. \u00a0It\u2019s just the <strong>lowest price that you\u2019re willing to go.<\/strong><\/p>\n<p>I recommend calculating your minimum price each time you add a new listing and then work through your older inventory. Since long-term storage fees will hit in two months, this is a great time to start!<\/p>\n<h2>A Mistake I Made<\/h2>\n<p>A mistake l made was not watching the pricing of a product (in this case, CD players) after listing them. I bought them in early January and listed them for $29.95 (or so) and then did nothing.<\/p>\n<p>If I paid better attention and saw that they were rapidly dropping in price, I would have priced more competitively to sell them before the selling price reached $17.60.<\/p>\n<p>Instead, I held onto them and sold them at a loss in April.<\/p>\n<h2>Two\u00a0Reasons to Enter Your Minimum Price<\/h2>\n<p><strong>1.<\/strong> <strong>To protect yourself from pricing errors from either yourself or a repricer<br \/>\n<\/strong>As mentioned earlier, if your selling price gets set lower than your minimum price, then your listing becomes inactive so that you don\u2019t accidentally sell your product at a loss. Mistakes happen&#8230;What if you typed in $0.99 instead of $9.99 and didn\u2019t catch your typing mistake?<\/p>\n<p><strong>2. To know how low you can go and still make a profit<br \/>\n<\/strong>Sometimes you just want to get rid of inventory that\u2019s old and not moving. With the minimum price already calculated, it\u2019s easy to go through your inventory list and lower your prices without worrying about going so low that you\u2019ll lose money.<\/p>\n<p>If you do want to take a loss to move on, then that\u2019s fine. \u00a0But at least your loss won\u2019t hit you by surprise.<\/p>\n<p>I recommend entering your minimum prices on all of your inventory before starting your <a href=\"https:\/\/dashboard.repricer.com\/register\/do\/repricer?utm_source=rex-blog&amp;utm_medium=referral&amp;utm_campaign=rex-to-repricer-registration&amp;utm_activity=take-action\">repricer free trial<\/a>. This is so you don\u2019t waste <a href=\"https:\/\/dashboard.repricer.com\/register\/do\/repricer?utm_source=rex-blog&amp;utm_medium=referral&amp;utm_campaign=rex-to-repricer-registration&amp;utm_activity=take-action\">your free trial<\/a> time\u00a0figuring out your minimums.<\/p>\n<p>Happy Selling,<\/p>\n<p>Diana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guest post by Diana at Second Half Dreams The Update Inventory with the Price &amp; Quantity page explains how the \u201cYour Minimum Price\u201d field works. This optional field helps Amazon identify potential pricing errors with your listings. To use this service, enter your minimum allowable price for this product. If you attempt to set your [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":4497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7,9],"tags":[],"class_list":["post-6405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-amazon","category-fba","category-tips"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Avoid Repricing Errors<\/title>\n<meta name=\"description\" content=\"FBA seller, Diana Poisson, details why sellers should set a min price on Amazon.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.repricerexpress.com\/repricing-errors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Avoid Repricing Errors\" \/>\n<meta property=\"og:description\" content=\"FBA seller, Diana Poisson, details why sellers should set a min price on Amazon.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.repricerexpress.com\/repricing-errors\/\" \/>\n<meta property=\"og:site_name\" content=\"RepricerExpress\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/repricerexpress\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-15T11:36:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-16T13:55:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.repricerexpress.com\/wp-content\/uploads\/2014\/09\/online-fraud-protection-for-sellers.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"880\" \/>\n\t<meta property=\"og:image:height\" content=\"587\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta 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