STOP, You are losing money because you are not repricing your products! - Fast Track FBA

STOP, You are losing money because you are not repricing your products!

If you are not using repricing software, then you are not selling your products at the best price. This is the maximum price you can sell your items for, whilst still controlling the Buy Box.
What is the Buy Box? When a customer comes to any Amazon Listing they see the product and then they see a yellow box which says ‘Add to Basket’. Alongside this button, they will also see some information about the seller, their name and how the order will be fulfilled (shipped). This ‘Add to Basket’ button is called the buy box and who is named next to it, will sell the item, when the button is pressed. Amazon will decide who gets placed on the buy box and hence who will sell the item. This is mainly based around price and fulfilment method.

Why should I care about the buy box?

82% of all sales, come from that buy box. If you are not on the buy box you can only achieve 18% of the total sales for that listing. To be profitable at selling on Amazon you need to control and hold the buy box, otherwise, you will rarely make sales.

How does repricing software help me win the buy box?

To put it simply, repricing software changes your products' price within a minimum and a maximum price, to help you win the buy box as much as possible. When it does this and you make a sale, you would have sold that product at the optimal price. Ensuring you have priced this product to achieve the most profit you can make.

Need an example? If you are trying to sell a product and there are two other sellers on the listing you might think to price your product at the same price as the lowest priced seller. For example, Seller 1 is £10.00 and Seller 2 is £15.00. You decide to price your product at £10.00.This might be great to start with, but what happens if Seller 1 suddenly sells out of their stock. Now you are still priced at £10.00 and the only competition is now priced at £15.00. You are losing £5 revenue per sale, something which a repricer could solve, by increasing your price to £15.

I only have few products and will check them daily Even in this situation, you are at a severe disadvantage vs your competition. You might check your products in the morning and see the only competition is priced at £12.00 vs you at £13.00. So you decrease your price to £12.00 and walk away. What you don't know is, most of your competition will be using repricers. So whilst you are busy and waiting until the next day, your competition's repriced and will reduce their price to £11.55 and undercut you within a few minutes. Amazon will see your competition are cheaper than you and give them the buy box. They will make sales that day, whilst you will not.

I understand, but it's just another cost to my business that I can’t afford You can look at it that way, as another cost to your business, but a repricer could mean the difference between you selling all your stock in 1 month and making £1000 or not using a repricer and taking 3 months to sell out and only making £800. Your time in this work is the most important thing to consider.

Ok, I am interested but how does it know when to change the price and can I set rules for each product? All the paid for repricing software will allow you to set up rules based on certain conditions and they will check your price and the competitions price every few minutes. For example, match the buy box price, or reprice your products cheaper than the competition. You can then assign these rules to each product. This way you can have the system automatically reprice each product to your expectations, ensuring you get all the money from each sale.

What are the repricing options?

 OverviewAll of the repricers will offer a range of options such as reviewing the number of buy boxes you own, price change history, UK, EU and US repricing, custom rules which can be assigned to each product. Bulk import and export and have a minimum and maximum price range that the software will stay within.What we will try to show here is any standout features or differences next to each product.

Repricer Express – https://www.repricerexpress.com/  (Aff) The most popular option for most Amazon seller as they have been in the market for a long time. If you are looking to reprice for all EU marketplaces then Repricer Express would be the cheapest option
Bqool – https://www.bqool.com (Aff)  Another popular solution mainly due to its affordable price. Integrates with InventoryLab, to support stock control. If you are looking for a single marketplace, like the UK for example then Bqool would the cheapest option
Informed.co (formally AppEagle) – https://www.informed.co/ Supports Amazon and eBay listings. Allows you to adjust pricing vs Seller Fulfilled Prime which a lot of repricers don't do. Allows for profit per item and cost based repricing.
SellerEngine – https://sellerengine.com/repricer/
They offer real-time, ie checking the BuyBox every minute and repricing against that. Offers the ability to work on profit and loss per item using the cost of the goods to ensure you never lose money.
Pricing Lab – https://www.pricinglab.com/smart-price
Great if you are selling on Google Shopping, Bol, Rakuten as well as Amazon as it works across all market places
AlphaRepricer – https://www.alpharepricer.com/
Allows for you to adjust the repricing base on the item weight along with all the normal items such as Amazon Fees, and cost of goods.
Logicsale –
https://www.logicsale.com
Useful as it works with ERP systems and eBay

Feedvisor – https://feedvisor.com/

Allows for repricing based on target sales velocity and Amazon Business Repricing. Their advance package also has good replenishment insights for reordering and returns.

Amazon’s Free Repricer
Amazon provides an automated way to reprice your products between your minimum and maximum prices. It's easy to use and built into the ‘Amazon Seller Central' System. We would strongly recommend you read the support documents on the system before you use it.

 

https://sellercentral.amazon.co.uk/gp/help/201994820A few points to highlight are, it does not allow you to adjust your repricing vs the competitor's fulfilment method, which can allow you to be 10% more expensive and still win the buy box. If you also become the only seller on the listing your prices will not increase as there is no competition, losing you profit.

Final Notes
Whilst Repricer Express and Bqool are likely to be the most popular, this does not mean you should go with it. Your competition is likely to be using the same software and this might not give you an advantage because the software is competing against its self. Whilst we don’t know what will happen in reality, we think that using something different to your competition could be an advantage, so do test a few repricers using their free trial periods.