Price on Amazon is uniformly changing and unless you own your private label or custom-made bundles, you need to maintain your listings’ prices repeatedly in order to stay in the competition, to win buy box and to escalate sales. Employing the suitable repricing strategies for your objectives as an Amazon trader is important, however, unearthing the right ones is challenging.
- Monitor Manually – Check each listing separately and modify prices as required. Doing it yourself gives you the unparalleled control, but also consume heaps of time. If you’re dealing with limited number of listings, the manual handling is a good option, but, in-case of large quantity it would become unworkable to do it this way.
- Incorporate Automation
Just like Adwords, this basically refers to using any repricing software to automatically adjust your prices. This salvages a lot of your time and energy and even helps maintain competitiveness of your listings. However, like all other things, this method isn’t safe from risks as well. Keep in mind, an effective repricer not only reduce prices but also raises it if needed.
Selecting a Repricing Strategy
Whatever pricing management mechanism you pick, it’s still unavoidable to determine the price of your product. The interpretation of this will differ from seller to seller contingent upon number of aspects. Scroll down to unveil some of them.
Add Delivery in your Price Estimation
Amazon classifies listings on the basis of price+delivery. For Fulfillment by Amazon program, there are no delivery charges. While pricing your products compared to other sellers, ascertain you’re setting it on the total cost.
Avail your FBA Benefit
If you trade through FBA, customers will usually pay extra to have a free of cost shipping advantage. Make sure to fix your rates on the basis of your FBA competition. You can even try asking for 10% more than your Merchant Fulfilled competition if you’re the only FBA seller on the listing.
Select Pricing With The Help of Amazon Price Tracker
While using an amazon price tracker for selling on amazon, you can easily decide about the product price. Calculate the incurred cost of your products with fee depending on which you can fix your least possible rates.
Price Isn’t Something That Makes All the Difference
Keep in mind that by just reducing your rates doesn’t compulsorily lift your possibilities of increasing the sales. Especially, if you deal in a low-demand marketplace, curtailing the price will not increase your possibilities of making quick sales. One of the ways to deal with this problem is to hold your price and wait till the right customer comes up. In addition, try to include relevant keywords to the listing to optimize and improve your product visibility.
Don’t Set Your Strategy in Stone
Make sure to opt for flexible solutions according to the best sellers on Amazon and don’t forget every unique product demands unique treatment. In case you aren’t satisfied with the present results, don’t be afraid to try something more effective and new.
Lastly, never panic, plan well and make sure to always be resolute in your pricing strategy with the help of a price tracker.