How to Set Up an Amazon Repricer to Optimize Your Sales Performance

A repricing tool makes your life easier by automating the price adjustment process. The best ones react to changes in the market in near real-time.

For example, a good repricing tool will always take shipping costs into account when adjusting prices. It will also consider item condition. This is very important when it comes to used items like second hand books.

1. Set Your Minimum Price

As an Amazon seller, optimizing your prices is one of the most important things you can do to maximize sales and win the Buy Box. Repricing software automates the process of setting and adjusting your prices, so you don’t have to do it manually.

Conventional repricers for Amazon repricer use rules to determine which price should prevail. They’re based on an “if-then” approach, which means they will automatically lower your prices until the lowest competitor wins. This can cause your product to be sold at a loss, so it’s important that you set a minimum price.

When you do this, you should make sure that it’s lower than the lowest competing price. This way, you won’t sell at a loss and will still make profits.

If you have products that aren’t moving fast, it may be worth lowering the price to speed up sales. This is particularly important during Q4 when you might need to get rid of slow-moving inventory before the end of the year. This can save you storage fees and damage to your profit margins. You can also use Conditional Repricing to help you do this. You can choose conditions that will focus on your inventory health, such as the number of days of supply, to ensure that your products are selling quickly. You can also select the AI profit boost rule if you want to prioritize your profits over other factors.

2. Set Your Max Price

Many sellers rely on repricing software to automatically change their prices on Amazon, especially as they grow their businesses. This happens millions of times a day and it’s the core of what repricing does. However, it’s important to keep in mind that there are multiple factors involved when choosing a repricing strategy.

For instance, you’ll want to set your minimum price, as well as your maximum. It’s also crucial to include all your costs when setting these, such as shipping, FBA fees, etc. Moreover, you should always double-check your settings before hitting enter. Even a small mistake can have significant consequences.

In order to maximize your sales performance, you’ll need a flexible repricing tool that offers the best possible combination of competitiveness and profit-driven pricing strategies. SellerLogic’s dynamic repricing solution can optimize your product prices to maintain your BSR, win the Buy Box, and increase your sales – all while ensuring that your prices never go below your minimum and maximum limits.

Unlike other tools that only take the lowest price into account, our algorithm takes into account more advanced pricing criteria such as your sales figures and brand positioning. This allows you to set your prices higher if they are selling faster and decrease them when they are slowing down. In addition, you can use our Conditional Repricing tool to boost your sales and profits based on your inventory velocity (e.g. during Q4 when you need to sell fast-selling products or clear out your inventory to avoid extra storage fees).

3. Create Your Rules

Repricing tools update product prices on their seller’s behalf and take the pressure off of sellers to monitor competitors and adjust their own prices manually. But it’s important to choose a repricing tool that doesn’t create a race to the bottom that can lead to lower sales, lower profits and ultimately a failed business.

A repricing tool should allow you to set up rules that determine how the repricer should behave under different circumstances. Then it should intelligently adjust your pricing to make sure you’re always profitable.

When you create a new rule, you’ll need to decide what type of competitor you want the repricer to compete with. For example, you can choose to only compete with FBA competitors or those who are selling as Prime. You can also select a competition filter such as fulfillment type (FBA, Amazon or self-fulfilled) or stock level (own or competitor).

Once you’ve selected the correct competition filters and a repricing strategy, you can add a name for this re-pricer and decide which marketplaces it should apply to. You can also choose to apply this re-pricer to individual listings or in bulk by percentage of cost or current landed price. The re-pricer will then start updating your prices on Amazon. You can also set a minimum price and a maximum price for your product to avoid repricing below this amount.

4. Monitor Your Results

Repricing is the process of adjusting your product prices to make your items more competitive, take advantage of supply and demand, win the Buy Box, or improve your profit margins. Amazon estimates that 2.5 million price changes occur daily. Manually changing your pricing is time-consuming and error-prone. Repricing software automates this process based on your goals and can save you hours of time.

When choosing a repricing tool, look for one that will take your competition’s total prices into consideration (base + shipping) to ensure your own listing price remains competitive and profitable. Additionally, an advanced repricing tool will factor in your selling costs including sales commissions, listing fees, VAT, and other costs to give you a realistic net margin.

Use your repricing tool to monitor your results and tweak your strategies as needed. It’s important to test out different strategies to find what works best for you and your business. Be sure to note which ones were successful and which were less effective so that you can avoid making those mistakes again in the future.

If you’re an FBA seller, it’s critical to keep your inventory healthy and moving quickly. Repricing lower on slow-moving or stagnant products can help you clear out your shelves and reduce your storage costs. You can also set up a repricing rule that will prioritize your inventory based on its condition to help you maximize sales.