Have you heard about the rumor that Amazon repricing is a race to the bottom? Well, it’s definitely not true. In fact, there are quite a few myths and dubious assertions regarding Amazon repricing. However, if you sign up with a reputable, and effective repricer, then you can easily price up and down according to the situation, and set min/max limits ensuring you don’t compromise on your profits.
Let’s look at the most common Amazon repricing myths that shouldn’t even exist and find out what the truth is.
1. It is just a downward spiral, leading to price wars
The biggest misconception is that repricers drop your product prices to the ground, and gets you in price wars. It’s necessary for sellers to understand the importance of repricers and stop believing in such rumors that refrain them from getting maximum sales. With a repricer, you can price your products up as well as down.
Price is not the only factor that helps you win the Buy Box. For example, a seller with a better seller rating can price its product a little higher than the seller having a negative ranking and still win the Amazon Buy Box. Make sure you have the right fulfillment method, enough inventory, and a satisfactory seller rating before competing for the Buy Box. Your Amazon repricer will take care of your product prices and we assure you; that it will consider all of the factors before making any pricing changes. It won’t unnecessarily bring your prices down, and even when it reprices your products slightly below the current Buy Box price to win it, you can raise your product price right after to hold the Buy Box at the highest price and earn maximum profits.
2. You won’t have any control over your product prices
You set the min/max price limits, and the repricer works within that range. Amazon repricers allow sellers to set the price, compete, and keep a track of their progress 24/7. Sellers have a greater understanding of their products and competition than anybody else. A repricer does what the seller tells it to do.
A repricer comes up with the best repricing strategy to help you get maximum sales while staying within the limits you’ve mentioned. Also, you can change the repricing strategy anytime you want, and keep an eye on all the activities done by the repricer.
3. Costs a fortune
Again – not true. Not all seller tools, including repricers, are pricey. If you get the right Amazon repricer for your business, then it outweighs its costs. You don’t have to pay a hefty amount to reprice your products. Do your research, and sign up with an affordable repricing tool that offers different pricing plans for businesses.
An effective repricer is the best investment because it opens up more opportunities for you to sell and maximize your profits. At last, that’s your ultimate goal, right?
Even when you sign up with a repricer, track your progress each month and check if it’s really making a difference to your sales. If not, you can always choose to end your deal and get a new one.
4. You should set your prices according to the other seller
Another misconception about repricing on Amazon is that you should always compete with other sellers and reprice your products according to their prices. Instead, why not use the market to determine your price?
If sellers choose to target the Buy Box itself, then they wouldn’t have to drop their prices as low as other sellers. They can still keep their product prices higher than others, while only competing with the seller that currently owns the Buy Box; rather than getting into price wars. Most importantly, by matching their product price with the current price of the Buy Box, they gain its possession and earn maximum sales, while other sellers lose.
Sellers keep on comparing their prices to other sellers and set their repricing tools to compete against other vendors, rather than focusing on the seller currently present in the Amazon Buy Box.
However, if you start considering what’s more profitable and go through other factors before competing with other sellers, you can definitely have a better outcome.
In conclusion,
There’s only one piece of advice for sellers: Don’t believe in such myths and get a repricer software to give a tough time to your competitors and win the Buy Box.
