{"id":7935,"date":"2015-01-13T11:39:33","date_gmt":"2015-01-13T11:39:33","guid":{"rendered":"http:\/\/www.repricerexpress.com\/?p=7935"},"modified":"2018-12-12T09:59:40","modified_gmt":"2018-12-12T09:59:40","slug":"how-amazon-repricing-can-increase-your-sales-and-profits","status":"publish","type":"post","link":"https:\/\/www.repricerexpress.com\/how-amazon-repricing-can-increase-your-sales-and-profits\/","title":{"rendered":"How Amazon Repricing Can Increase Your Sales and Profits"},"content":{"rendered":"

RepricerExpress<\/a> talks about what exactly repricing software does and how your online business can get a slice of the $60 billion Amazon Buy Box pie.<\/p>\n

What is repricing software?\u2028<\/strong>
\nRepricing software such as RepricerExpress<\/a> essentially allows Amazon sellers to automatically compare their product prices to those of competitors\u2019 and adjust them accordingly (within their own set upper and lower limits).<\/p>\n

Sellers\u2019 prices are so closely linked to their sales performance and product visibility on Amazon that they need to continually ensure their products are priced competitively\u2014and doing this manually if you have hundreds or thousands of products, simply isn\u2019t viable.<\/p>\n

Sellers set the min and max prices they are willing to sell their products at so the software knows never to go below or above these limits. When Amazon sends a price notification change for any product, the repricing software will adjust yours where necessary with the goal to win the Buy Box or rank highly in search results.<\/p>\n

With an increasing number of sellers using repricing software it is very much becoming an essential part of your ecommerce business rather than a nice tool to have.<\/p>\n

What\u2019s the Amazon Buy Box?\u2028<\/strong>
\nWhen purchasing a product on Amazon, both it and third-party sellers may be responsible for selling that product. When a customer reaches the product page, Amazon places one seller\u2019s details (often itself) and price in the Buy Box.<\/p>\n

Because the Buy Box is so prominent and linked to the \u2018Add to cart\u2019 button, any seller with placement in it, will be almost guaranteed more sales for the seller that wins it. If you compare it to a Google search, the Buy Box is effectively the first result of a customer\u2019s search for a specific product, and the one that they are likely to click most to complete a purchase.<\/p>\n

In 2013, Amazon\u2019s revenue almost topped $75 billion, and $60 billion of that came through the Buy Box\u2014of that, $30 billion was sold by third-party Amazon sellers. With those figures, it\u2019s clear to see why selling on Amazon and getting your share of Buy Box spots is so important for many online sellers.<\/p>\n

How can a seller win the Amazon Buy Box?<\/strong>
\nYour eligibility to win the Buy Box is linked to your seller performance.When you exceed Amazon\u2019s standards you\u2019ll obtain the Featured Merchant status\u2014a prerequisite to Buy Box eligibility.<\/p>\n

When that\u2019s in place, your placement within the Buy Box can be largely governed by price, which is why anyone seriously selling on Amazon needs to put repricing strategies in place to consistently maintain healthy sales.<\/p>\n

Buyers with purses open!<\/strong>
\nAn area that small online sellers often overlook is the huge audience of 237 million \u2018ready to buy\u2019 consumers that Amazon has globally. Couple that with the fact that those consumers trust the site and can purchase with one-click and you\u2019ll see why millions of sellers find success on the marketplace.<\/p>\n

Any small or medium sized online seller with their own website is never going to be able to bring that size of audience to its own site or address trust and one-click buying as effectively. Addressing any of these issues, particularly the need to bring a steady flow of traffic to one\u2019s site is a costly affair, and one that many small online retailers fail to budget for. In fact many experts believe that the benefits of selling on major marketplaces like Amazon and eBay far outweigh the lure of your own webstore.<\/p>\n

What are sellers\u2019 biggest fears of using repricing software?
\nThe number one fear of sellers is that repricers will lower prices too far and get them embroiled in price wars, but the truth is that sellers can\u2019t reprice without inputting minimum and maximum sell prices\u2014so if you set a minimum sell price for a football to \u00a37 (including shipping) your price will NEVER get pushed below that.<\/p>\n

A modern repricing solution will increase your prices where possible. If your min and max prices for the football are \u00a37 and \u00a315 respectively and your competitor sells out of stock or there the other sellers can\u2019t match your Featured Merchant status, the repricer would push your price up to maximise your profits on any new sales.<\/p>\n

There are so many myths about repricing software but the truth is, the practice has been going on in retail for decades, albeit in a different way. In any competitive market (particularly one such as Amazon that is renowned for competitive prices), you\u2019re going to have to compete on price in some regard, however, with an effective repricing solution, you get to compete on your terms where you can win a sale at a profit.<\/p>\n

Have you any advice on executing a repricing strategy?<\/strong>
\nRemember that a repricer is still only a tool and you\u2019ll get the best results from it if you set your repricing rules to suit your overall business goals. It\u2019s important your repricing software allows you to decide who you want to compete with and also who you don\u2019t want to compete with.<\/p>\n

Although there are many sellers on Amazon selling the same products, you can bet they are all quite different businesses, with different circumstances, goals and inventory lists\u2014 a modern repricing solution gives you the ability to set your repricing rules to sell your stock in the way you need to, at the price you\u2019re prepared to sell at. Some sellers need a steady flow of sales, whilst others stockpile their inventory until they feel they can get the best price. This coming Christmas is a prime example of when toy sellers will be ready to get higher margins on some lines, and they\u2019ll have their repricing rules in place to maximise their profits.<\/p>\n

*This article originally appeared on Tamebay<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

RepricerExpress talks about what exactly repricing software does and how your online business can get a slice of the $60 billion Amazon Buy Box pie. What is repricing software?\u2028 Repricing software such as RepricerExpress essentially allows Amazon sellers to automatically compare their product prices to those of competitors\u2019 and adjust them accordingly (within their own […]<\/p>\n","protected":false},"author":3,"featured_media":876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,7,8,9],"tags":[],"class_list":["post-7935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-amazon","category-fba","category-news","category-tips"],"yoast_head":"\nHow Amazon Repricing Can Increase Your Sales and Profits<\/title>\n<meta name=\"description\" content=\"RepricerExpress talks about what exactly Amazon repricing software does and how your online business can get a slice of the $60 billion Amazon Buy Box pie.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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