Price wars are a very common thing when selling online and using a Repricing tool. You and your competitors are undercutting each other until someone reaches their Min price and you get stuck at an uncompetitive price
The solution to this problem is the Sleep Mode. This help file will guide you through everything you need to know about this option in Repricer.com.
Before you start
- You need to have a Repricer.com account. To find out how to create one, click here.
- You'll need to have Amazon connected as a channel. To find out how to do this, click here.
01 How does the Sleep Mode work?
The Sleep Mode will allow you to switch off Repricing for all products assigned to a specific Repricing Rule once per day. Most people do it at the time of the day when sales are at the lowest so usually overnight or early in the morning.
If you don't want to simply switch off your Repricing, there is also an option to switch off and reset your prices to their Max prices during the Sleep Mode.
The idea behind this is by resetting your prices to Max is that hopefully, your competitors also using a Repricer will follow you up and if you were involved in a price war, it'll restart but at a higher price so you still make a profit. Once Sleep Mode ends, the listing will start to reprice again, as it would normally do.
Note: During the Sleep Mode, Repricer.com will still get notifications from Amazon if there's any price change on the ASIN and these will still be processed and show internally on-screen as Repricing events.
Don't worry though as these prices will not get uploaded to Amazon until Sleep Mode ends.
Also, if there are no price changes during the Sleep Mode then once it ends, the price will be reverted back to what it was before the Sleep Mode started.
02 How to activate the Sleep Mode?Simply follow the steps below:
Navigate to your Repricing Rules. You can use the Sleep Mode by either creating a new Rule or editing an existing one.
Once in a Repricing Rule, navigate to the Advanced option which is the second step of your rule settings.
Under the Scenarios section, there is a Sleep Mode toggle that you need to switch on to enable the feature.
Once enabled, you can select when you want your Repricing to stop and when you want it to start again.
You can also select if you wish to reset your prices to their Max prices during this time. If you do, make sure to switch on the toggle.
On the example above, the Sleep Mode is set between 02:00am and 03:00am, this means that your products will stop repricing and go to Max prices every day during that time.
To learn more about the Multichannel Pricing option in Repricer.com, click here.
Interested to find out more about the Buy Box Optimizer? Click here.