Tips and Tricks to Help You Use Amazon Repricing Software
Posted 1st November 2016 at 10:42 AM by repricerexpress
Tags amazon, fba, repricer, repricing, repricing software
Think you know all the tips and tricks to successfully use Amazon repricing software? Well, RepricerExpress just may have a technique or two that can help set you apart from the competition!
Approach Repricing as a Long-Term Plan for Each Item
One of the biggest mistakes online merchants make in repricing is thinking too generally or too short-term. They look at how an item is behaving now and reprice accordingly. While that will admittedly help, it wont get you very far. You'll want to broaden your scope to how that product has performed over the last month, quarter, year and possibly longer. There are two main reasons for this:
Map Your Inventory as Accurately as Possible
Its not great if you have too many of one item, but its pretty bad if you run out of it. But if you manage to keep a near-perfect balance, then you'll maximise your earning potential by keeping ahead of the supply-and-demand trends at the time.
One great way of doing this is to link your inventory to your repricer and writing specific rules that correspond with the stock. Say you've just run out of an item. You can tell your repricer that once you bring it back in stock, it should set prices that match the average market values. This way, you don't have to worry about whether you're too high or too low once you've replenished your inventory.
Read the full article on the RepricerExpress website
Approach Repricing as a Long-Term Plan for Each Item
One of the biggest mistakes online merchants make in repricing is thinking too generally or too short-term. They look at how an item is behaving now and reprice accordingly. While that will admittedly help, it wont get you very far. You'll want to broaden your scope to how that product has performed over the last month, quarter, year and possibly longer. There are two main reasons for this:
- Sales rank history: Knowing how hot an item is, and at what points in history, can help you make decisions about when and what to reprice it. For example, if you're about to reprice a product that isn't stereotypically seasonal but behaves as though it is, then you'll have better insight as to when you should increase or decrease your inventory of it and how to set repricing rules.
- Sales price history: This one is almost self-explanatory, as an items sales price history is sort of like a little guidebook that tells you to set min prices at X point in time and max prices at Y point in time. There are plenty of tools you can use, like CamelCamelCamel, Keepa, PriceZombie, MyAlerts, Dolla and more.
Map Your Inventory as Accurately as Possible
Its not great if you have too many of one item, but its pretty bad if you run out of it. But if you manage to keep a near-perfect balance, then you'll maximise your earning potential by keeping ahead of the supply-and-demand trends at the time.
One great way of doing this is to link your inventory to your repricer and writing specific rules that correspond with the stock. Say you've just run out of an item. You can tell your repricer that once you bring it back in stock, it should set prices that match the average market values. This way, you don't have to worry about whether you're too high or too low once you've replenished your inventory.
Read the full article on the RepricerExpress website
