Nothing stays the same for too long on Amazon and prices are not left out. Market prices are constantly changing and if you want to make a profit, then you must be ready to keep your prices competitive.
The competition on Amazon is tough, and regardless of the business model you use, you’ll have to engage in a tussle for the buy box. And if you want to win the buy box or show up on the first page of search results, you need to stay on top of market prices. Besides, if you’re not updating your product prices, you’ll likely end up with fewer sales than you had hoped for. This is where using the best Amazon Repricer tool comes in.
Repricing is a strategy that many sellers use to maintain competitive prices and grow their businesses. With an Amazon repricer, you can automatically maintain product prices using competitor data. In this post, we will show you how using an Amazon Repricer works. We’ll also provide a list of the best Amazon Repricer tools for your business. But, first, what is an Amazon Repricer?
What is an Amazon Repricer?
An Amazon Repricer is a pricing software that automatically adjusts the price of your products in accordance with the rules and limits you set. The software compares your price to those of competing products and allows you to set a minimum or maximum price range. In the event that there is an increase or drop in market prices, the tool lowers or raises your price based on the parameters that you have set.
Changing prices is a time-consuming task, and sellers who have other commitments may find it difficult to keep up with price changes. As a result, most sellers now automate the process using an Amazon repricer. Of course, using a repricing software is not a necessity, since the process can also be executed manually. But here’s a brief comparison of manual and automated repricing to help you decide which is best for you.
Manual Repricing
The manual repricing process involves going through hundreds of product listings and making individual changes. This method puts you in control, but it can also be exhausting.
Pros
- Puts the seller in control of price changes
Cons
- Suitable for sellers who have few product listings
- New or inexperienced sellers often miss important details
- The process can be exhausting and time-consuming.
Automated Repricing
With automated repricing, a repricing software implements price changes on your behalf. All you’ll have to do is to set your preferred parameters.
Pros
- By setting a minimum price, you ensure that new prices do not fall too low so you can still earn a profit.
- Easy way to save time and effort.
- Arbitrage sellers and wholesalers who use repricing software have a higher chance of winning the buy box.
- Private label sellers can use an Amazon repricer to optimize their pricing
- Price adjustment across multiple Amazon marketplaces
Cons
- You cannot control product prices directly
- Repricing software may be expensive for sellers who are on a tight budget.
If you have weighed your options and would like to use an Amazon repricer, there’s a need to understand how most Amazon repricing tools work. We’ll cover this in the next section.
Related: Amazon seller tips to help you increase sales in Q1
How Does an Amazon Repricer Work?
Amazon repricing tools either use a rule-based or an algorithmic-based approach. Rule-based tools allow sellers to set minimum and maximum price limits. In contrast, algorithmic-based tools work with the algorithm and choose the best price for your products after considering the market conditions. Also, an algorithmic-based tool puts you in the best position to win the buy box because it takes all the important metrics into account.
Amazon repricing tools may differ in how they calculate prices, but the majority of them work in the same way. Here’s how a typical Amazon repricer works.
- The tool takes note of changes in market prices.
- Once your repricing tool gets an update on the price change, it allows you to check competitors’ pricing and set a target profit margin.
- Next, the tool calculates the best prices for your products.
- To ensure your listings are safe, the software runs a background check
- Afterward, the software notifies Amazon about your price update and Amazon’s pricing system reviews the new price.
- Finally, the new price is updated and reflected in your listings.
What are the Best Amazon Repricer Tools for Your Business?
There are many repricing tools available on the market at the moment. As a result, it may be difficult to choose the best Amazon repricer tool. Here’s a list of the best Amazon Repricer tools for your business.
Repricer Express
Repricer Express is an Amazon repricer tool that works across 11 marketplaces. There are many repricing tools available, but only a few of them work across several marketplaces. And that’s why this tool is on our list of the best Amazon repricer tools for your business. Amazon sellers can use this tool to create customized pricing plans by setting up their own parameters and fixing minimum and maximum prices for each listing.
Repricer Express’ best feature is that it gives sellers the freedom to customize their listings as they wish. The tool allows sellers to set preferences and apply these preferences to their products individually or in groups. The software offers a 14-day free trial for sellers who want to try it out first.
Aura
Aura is an AI-driven repricing software. The tool offers buy-box compliant repricing and claims that users are 65% more likely to win the buy box. The software is new to the market, but as a result of its features, it is fast becoming a stable choice among sellers.
Also, the tool is quite affordable. It offers a single pricing plan and all its features can be accessed under this plan. In other words, sellers will not incur any extra charges for important features like setting price limits. The tool is available for the US, Canada, and Mexico marketplaces and can be accessed for free for 14 days.
Feedvisor
Feedvisor is an algorithm-based tool that uses machine learning to manage product prices in real-time. The tool runs through thousands of competitor data and uses different pricing strategies to help you win the buy box.
With Feedvisor, your competitive edge is not compromised and the tool is focused on helping you maximize profits. Apart from repricing, the software offers other features and this has made it one of the best Amazon software for sellers. New sellers can make use of this software, but it is best suited for large enterprises that are ready to invest heavily in software. Sellers who would like to explore the features of this tool can sign up for a free trial.
Bqool
Bqool is a high-speed Amazon repricing software that is currently available across nine marketplaces. The tool allows sellers to manage price changes by choosing competitors to reprice against.
It is a rule-based tool that allows sellers to set various profit and sales parameters. The plans are expensive and best suited for veterans who do not mind the cost.
Informed
Informed. co, formerly known as Appeagle is a multi-channel repricing software designed to help sellers manage prices and win the buy box. The software offers a profit protection feature that helps sellers maximize sales. In addition to this, the tool uses a sales velocity algorithm that automatically raises your prices when there is no competition.
This software is an Amazon repricer tool that works across 15 marketplaces, but it can also be used to manage prices on the Walmart marketplace. The plans start at $49 but the pricing is based on your monthly revenue.
How To Choose The Best Amazon Repricing Software for Your Business
Using repricing software is a great decision, but if you’re not careful when choosing one, you’ll end up not getting results. If your goal is to win the buy box and manage prices on Amazon seamlessly, here are a few things to look out for when choosing an Amazon repricing tool.
Choose Data-driven Software
Data is an important factor when it comes to managing prices on AMZ. So, ensure you pick a tool that takes note of everything from your seller metrics to shipping, ranking, and of course, your competitors’ pricing strategies. Also, ensure you for a tool that provides you with winning strategies to help you secure the buy box.
Algorithm-Based Tools over Rule-Based Tools
Working with data is important, so algorithm-based tools are best for you. Rule-based tools work best for small businesses. But if you intend to build a profitable business and win the buy box, an algorithm-based tool is best for you. Besides, algorithm-based tools work with marketplace data to come up with the best prices for your products and increase your chances of winning the buy box.
Speed
When it comes to competing for the buy box, Amazon sellers know they have no time to waste. Repricing is a continuous task that is largely unpredictable, so you need to invest in software that can get the job done quickly.
Cost
Cost is a key consideration when selecting Amazon repricing software. Choose an Amazon repricer that meets all the requirements and is affordable! Usually, most repricing tools offer different pricing plans so you can choose a plan that fits your budget! Repricing tools should be free of hidden costs and live up to their promises.
Free Trials and Excellent Service
Free trials are a great way to determine whether a tool fits your needs or not. Moreover, you should ensure the tool works perfectly before signing up and inputting your card details.
Also, it’s not always a smooth ride when you’re trying out software for the first time. So, you should ensure you choose a tool that provides excellent service and support.
Conclusion
An Amazon repricer tool is a great way to save time and maintain competitive prices. So, investing in one is certainly not a waste of money but a smart move.
Private label sellers may not need to invest in repricing software. But wholesalers, drop shippers, and resellers who want to win the buy box and maximize profits should consider using one. Choosing the best Amazon repricer tool may be difficult and that’s we have curated this list of the best Amazon repricer tools. All you have to do is check them out and choose the one that best suits your needs.
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