Repricing is more important than ever for Amazon sellers. Changing the prices of your products multiple times a day, or even several times an hour, is crucial to maintain a competitive advantage, sell more products, and increase profits.
This is often achieved with the help of an Amazon repricer.
One of the most important features of a repricer is the speed that it changes the prices to help Amazon sellers win the Buy Box.
Here we’ll look at why winning the Buy Box is so important, why repricing speed is crucial, and why Repricer is the fastest Amazon repricing tool around.
TL;DR
- Repricing software plays a key role in helping Amazon sellers to win the Buy Box.
- Speed of repricing is an important factor to consider when choosing a repricer.
- Repricing works by changing prices regularly based on various factors.
- Repricer is the fastest repricing software around, with several features that can help you win and keep the Buy Box.
Why Is the Buy Box So Important?
The Amazon Buy Box is something every seller on the Amazon marketplace should know about. This is the box on the right of the screen where customers can add a product to their basket.
What customers often don’t realize is that there are many other Amazon sellers who sell the same product, all competing to get their products into the Buy Box.
Most customers will end up buying the product in the Buy Box. So, as a seller, you can enjoy a huge sales boost if you’re the Buy Box winner, and your product is the one that customers see.
If you sell on Amazon, it really is the Holy Grail, and all sellers want to get into it.
How Do Repricers Help You Win the Buy Box?
This is one of the main reasons sellers use Amazon repricer software: it helps boost your pricing strategy and increases your chances of winning the Buy Box.
Amazon has a Buy Box algorithm, and the exact details of this algorithm are not revealed to prevent sellers from gaming the system. It’s a highly sophisticated algorithm and it’s being updated constantly.
But we know that a few different factors go into determining who wins the coveted Buy Box:
- Product availability –You can’t win the Buy Box if you’re out of stock.
- Your reputation as a seller – That means high-quality products, excellent customer service, and good reviews.
- Amazon FBA sellers also have an advantage – They’re using Amazon for fulfillment, and Amazon rewards this because it knows its own fulfillment is reliable.
But one of the biggest factors of all is the price of your product.
Amazon wants its customers to enjoy the best value for money. If you offer the same product and you have a great sales history, but you’re more competitive on price, you can give your chances a boost.
The problem is that you can’t just make your product the cheapest and then forget about it. Why? Because your competitors will change their pricing to beat yours.
And this is where Amazon repricer software becomes so crucial. It can change your prices in real time to make sure your products are the most competitive.
It doesn’t simply keep making your prices cheaper – that’s just a race to the bottom. Repricing software is smarter than that. It can also increase prices when necessary (more on that later).
But one thing that really matters is the speed at which it changes the prices.
Why Is Speed So Important for Repricers?
Let’s say that you offer the same product as 10 other Amazon sellers. One of the sellers drops their price suddenly and becomes the best value of all the products.
They manage to win the Buy Box, and all customers start seeing their product. Even customers who explore other products realize it’s the cheapest.
Sales rocket, and the seller is happy.
But you haven’t seen the price drop. While you have a good repricing strategy in place, you’re doing it manually. And you’re losing sales every minute you fail to act.
With manual repricing, you do everything yourself. Changing the price of your product isn’t difficult, but you have to know when to change it. Unless you’re monitoring your competitors 24/7, that’s a tough ask.
Even if you only sell one product, it can still be a big task to keep an eye on your competitors all the time and react to price changes when they happen.
You need to act fast, because while you’re not acting, your competitors are getting sales that could be yours.
Imagine you have dozens of products, or hundreds. Keeping track of the repricing carried out by your competitors becomes almost impossible without a dedicated automated repricing tool.
But you don’t want any repricing tool: you need one that reacts fast to price changes.
A tool that will help you minimize the time it takes to react to your competitors’ actions and make your product competitive again quickly to regain the Buy Box— and make more sales.
How the Automatic Repricing Process Works
Automatic repricing software does exactly that: it changes the prices of your products automatically.
But how does the actual process work, and how does this impact the speed?
Repricers use rules set by the seller. You, as the Amazon seller, tell the software what you want it to do for specific products, or just set a minimum and maximum price. Or, you can let the repricer use its data and processes to choose the best price at a specific moment.
There are several repricing strategies you can use. For example:
- Compete against specific sellers while ignoring others.
- Be in one of the top three positions.
- Compete against new items.
But one of the most popular repricing strategies is to win the Buy Box by competing with the current Buy Box holder on price.
Let’s say you set your rules based on the goal of winning the Buy Box. You then simply let the software work its magic:
- A competitor changes the price of their product on Amazon.
- The repricing software you’re using detects this.
- It analyzes the data and calculates a new price.
- It sends the price to Amazon, which makes price checks.
- And the price goes live.
As you can see, there are a few steps involved. It’s incredibly important, therefore, that your Amazon repricing software can go through these steps as quickly as possible.
During the time your price remains unchanged, you could be missing out on sales.
Repricing Issues to Consider
While repricing is a basic process, there are other things to consider. For example, one of the things that causes confusion is the Amazon security checks.
Your repricer may work almost instantaneously, but Amazon must still carry out the checks before it changes the price.
This is usually the longest part of the process. Amazon has to carry out security checks, analyze the data, and then change the price.
The price has to be queued first. It must pass Amazon’s pricing rules as well as the error tests, and the pricing criteria too. If you set it too low or high, repricing won’t take place.
This can take anywhere from five minutes up to 15 minutes. Unfortunately, there’s not a lot you can do about this.
To prevent the repricing from being rejected, you can set a floor price and a ceiling price. This will help to avoid issues. While it still takes up to 15 minutes for the new price to go live, at least you’ll avoid further delays.
Why to Choose Repricer
With all of that in mind, you’ve probably come to the conclusion that an automatic repricer is the best solution for your Amazon business.
But then you have another question to ask: which Amazon repricer tool should you use?
At Repricer, we call our tool “The Fastest Amazon Repricer,” and with good reason.
This is one of the primary reasons people choose Repricer. Changing prices quickly gives you a competitive advantage.
Repricer constantly monitors your competitors, receives updates on price changes, and goes to action immediately by making instant repricing decisions.
Whether you’re working, sleeping, or traveling on business, you can rest assured that your repricing is happening in the background at a lightning-fast speed.
And that’s not all. While Repricer is incredibly fast, it also has other benefits:
- It’s incredibly easy to use. The tools available in Repricer may be powerful, but they’re easy to use and it has a user-friendly interface.
- It’s reliable, so you won’t have to worry about errors or the software going down. It’s always working behind the scenes.
- It’s very flexible and gives you full control over your repricing strategy.
- It has everything you need. Repricer also comes with some very useful Buy Box tools, which we’ll look at next.
Repricer’s Buy Box Tools
One of the features that sellers love about Repricer is our Buy Box tools. As mentioned earlier, winning the Buy Box is absolutely crucial for many sellers.
That’s why we include our AI Buy Box Chaser in our Plus, Ultimate, and Extreme plans.
This increases the chances of you winning the Buy Box by changing the price of your product to avoid being uncompetitive.
If you’re not winning the Buy Box, this tool will help. You can set a minimum price, and it stops changing the price of your product when you are the Buy Box winner or when you hit your minimum price.
You can set your own repricing rules with minimum and maximum prices as well as the time intervals and the percentage you want to decrease your price (E.g., you can set it to decrease by 2% every hour).
Winning the Buy Box is essential, but it’s not the end of the story. You also have to keep your position.
This is where the AI Buy Box Optimizer becomes so useful.
With this tool, Repricer will increase the price of your product when you win the Buy Box to maximize profits. You’re in the best position, and that means demand is higher.
So you can set the software to increase the Buy Box price of your product by a certain percentage every 15 minutes, for example. If the price goes up and you lose the Buy Box, it will go back to the price it was before you lost your position.
Repricer is a powerful tool, but very easy to set up. Again, this is available in our Plus, Ultimate, and Extreme plans.
Extra Tips to Maximize Profits
Now you’ve got a good idea about the benefits of a fast repricer to win the Buy Box and the extra tools to help you keep it, you hopefully realize why using a repricer is a great decision.
To get the most out of Repricer or other repricing software:
- Set your minimum and maximum prices. It will maintain the price within these boundaries to avoid delays by Amazon when it comes to repricing and ensure you keep making profits.
- Don’t think it’s a race to the bottom. The price can and should be increased as well. When a competitor goes out of stock, for example, this can be a good opportunity to increase your prices.
- Use repricing software even if you only have a few products. Even a single product. You can make up for the cost of the software by making extra profits, and it frees you up to improve your business in other ways.
- Use Amazon FBA. As well as using repricing software, use Amazon FBA so you can price higher than other sellers and win the Buy Box at the same time.
- Keep your Amazon seller reputation in good standing. This will help you compete even with higher prices.
Conclusion
If you’re serious about repricing, you need to use automatic repricing software. But there are lots of Amazon repricer tools to choose from.
Repricing speed is one of the most important factors to consider when choosing your software, and that’s one area where Repricer is at the top of its game.
Using the fastest Amazon repricer will ensure you don’t miss out on sales and profits when your competitors change their prices.
If you want to win the Buy Box by using a fast repricing software that’s smart enough to react to competitor price changes fast and help you keep the Buy Box once you’re there, check out Repricer today.
Then start making your products more competitive with complete peace of mind knowing that Repricer is working 24/7.
