What do Amazon Sellers Need?
Amazon repricing tools can differ in cost, speed, available and experienced customer support, user interface, and of course if a repricer is manual, rule-based, or algorithmic.
How do Amazon Repricing tools Work?
Staying ahead of your competition is tough, especially since Amazon sellers coming to market are increasing year on year. One of the ways to outrank your competition in 2024 is with the help of a repricing tool. In brief, a repricing software will adjust your listing price against other FBA and/or FBM sellers, based on different factors and depending on which type of repricing software you use. Your listings are automatically populated into the software by connecting to Amazon’s API.
A repricing tool analyzes offers from all sellers on a particular listing and will either devise the necessary repricing strategy to come up with a competitive price or make price changes based on pre-configured rules and conditions set by the seller. Once the analysis is complete, the repricing software will send the readjusted listing price to Amazon, where it will be displayed for shoppers to see. Again, the way your repricing works is dependent on which type of repricing software you purchase.
How to Use a Repricer
Using a repricing software varies from one repricing tool to another. However, the general concept of repricing remains the same. Since there is really no singular and uniform way to use an repricer because one software interface is unique from another, below is an overview of what sellers experience when using Seller Snap’s Amazon repricing software.
When users first log in to the platform, the default repricing method is AI automatic repricing. This is an example of an algorithmic repricing method that does not require any set-up. This is what we call the “set it and forget it” style software, the repricing software learns, analyzes, and implements logical strategies to combat your competitors.
However, if you choose a rule-based repricing method, the user journey is different as sellers have to set up thought-out rules and conditions for each ASIN. The repricing style is still somewhat automated, but sellers have to devise strategies to combat specific scenarios and take time to set these strategies up within their repricer, instead of using a learning algorithm.
The Repricing Software for FBA and FBM Sellers
Whether you are an FBA or FBM seller in 2024, you will likely need the assistance of a repricing software. Generally speaking, the options available for sellers are manual, rule-based, and algorithmic repricing. Each has its own unique features and advantages. However, for higher-volume sellers and those wanting to experience reliable automated repricing, AI repricing is highly recommended to boost your eCommerce business for 2024.
Why Amazon Sellers Should Consider an AI Algorithmic Repricing Software
Apart from delivering a reliable repricing strategy to your business, this repricing software has more to offer. One of the reasons why sellers are turning to algorithmic repricing in 2024 is to maximize profit margins while avoiding price wars.
On top of the unique features and analytics provided by a third-party Amazon repricing software, sellers also use this tool to help them win more Buy Box at the optimal price point.
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AI Automated Repricing Over Manual Repricing
As mentioned above, AI repricing offers more benefits to sellers. Apart from its automatic repricing feature, it is also much more reliable in terms of multiple listings. That is why high-volume sellers favor AI repricing software over its manual counterpart.
Top sellers avoid manual repricing because it is prone to human error, and such a method is not fast enough to respond to the constant price changes in the market. Sticking with manual repricing is also tedious and time-consuming, especially if you have voluminous inventory. Such a tool is not cost-effective as compared to automated repricing.
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What is Rule-Based Repricing?
As its name would suggest, a rule-based repricing method relies on a predefined set of repricing rules. This means that the repricing software provides rules that can be readily applied to your pricing strategy. Some of the commonly available repricing rules include matching the lowest or highest price or beating the competition by a certain price.
Although rule-based repricing is relatively better than manual repricing, it is still limited in terms of price optimization. Since this repricing approach is solely based on the seller’s pre-defined rules, rules can sometimes contradict each other.
Factors to Consider When Choosing a Repricing Software
To help you step up your pricing strategy and win more Buy Box in 2024, here are some factors to consider when choosing your Amazon repricer:
- Repricer Type
- Monthly Cost
- Free Trial Period
- Repricer Speed
- Ease of Use
- Commission Rate, if Applicable
- Does It Come With Analytics?
- Customer Service and Support
- Contract Duration/if a Contract Is Required
- Ability to Identify and Follow Your Competitors
What Are the Top Amazon Repricing Softwares in 2024?
