Repricing is not a new concept to Amazon sellers. Whether you’re adjusting your prices manually or automatically, repricing is a very important way of ensuring that your products are priced properly, depending on the competition.
Due to the fact that your competitors are constantly growing on Amazon, especially during the holiday season, automated repricing should be considered as one of the most important strategies to increase sales and grow profits. Furthermore, using an automated repricer is an efficient, reliable and manageable solution for smart repricing.
If you are not an automated repricer user yet, here are some of the main reasons why you should to consider using an Amazon Repricer, especially for the holiday season and major ecommerce shopping events of the year.
1. Save Time
You’re more likely to add more seasonal items to your listings during this time of year in order to drive more sales in Q4. The more items you sell, the more difficult it becomes to change prices manually. Using an automated repricer will save you a lot of time, enabling you to get on with enjoying the festivities without having to constantly monitor your competitors for price changes.
2. Eliminates Human Error
Everyone makes mistakes, it’s a fact of life. So, if you’re dealing with many listings, your chances of making a mistake greatly increases if you’re manually repricing. Additionally, no human can make price changes as efficiently and as quickly as a computer can. As a result, an automated repricer can keep up with your competitor’s prices accordingly to ensure your price accuracy.
3. Lowers Labor Costs
As the holiday peak season approaches, many retailers tend to hire seasonal workers to maintain an adequate labor force in order to take advantage of increased consumer demand. For this reason, you will be more likely to need help with handling many listings that require repricing. The federal minimum wage in the U.S. is currently $7.25 per hour. The monthly cost of labor for a single employee would be around $1,160. A great pricing plan such as BQool’s Repricing Central starts from just $25 a month, thus saving you a lot of money.
4. Helps you to Remain Profitable
Using an automated repricer is definitely not a race to the bottom. On the contrary, it enables Amazon sellers to increase sales as well as profits, regardless of circumstances. By setting a minimum and a maximum price, the repricer will keep you away from a price war. When your competitor aggressively drops their price in order to steal sales, your price will not go any lower than the minimum profitable price point. Similarly, the repricer will push the price up to the maximum price to increase profits when it detects your competitors are out of stock.
5. Stops you from Over Thinking your Amazon Pricing Strategy
Due to BQool’s insightful listing data, you can make the right pricing decision and customize your own repricing strategy based on competitor analysis, listing performance reports and a comprehensive dashboard to beat your competitors. BQool’s automated repricer is easy to use and its customizable settings are powerful. You will discover which strategy works best for your business once you get the hang of it.
6. Keeps your Products Moving
To avoid being left with too much inventory at the start of the new year, you may want to consider lowering your prices in order to move slow-inventory quickly at the end of the year. Although this move may not result in a profit, you could even make a loss, you can make sure that you don’t succumb to Amazon’s long-term storage fees by shifting that inventory quickly.
7. Win the Buy Box
The greatest benefit of using an automated repricer is to help users to win the coveted Buy Box, which is critical for the long-term success of an Amazon seller. During the high-traffic holiday period, getting a placement in the Buy Box can lead to a huge increase in sales. Many sellers invest in automated repricers due to the fierce competition for the Buy Box during the holiday season.
8. ‘Tis the Season to Save
If you’re now ready to put a small budget aside to make a killing this holiday season, here’s a small gift from us to you. You can enjoy 25% off BQool’s 5-minute Accelerated Repricing plan for up to 10,000 listing for 3 months. To accept this offer, or if you require any further information, please email us at firstname.lastname@example.org. This offer ends November 30, 2018, so don’t miss out!
BQool Inc. is a SaaS company committed to simplifying the day to day tasks that all Amazon sellers face, whether that be dynamic repricing, competitor research, feedback and reviews management or discovering the most profitable products to sell. Sign up for a free trial of the most innovative software solutions available on the market.