By using Repricer.com you can implement competitive repricing to improve your chances of winning Amazon's Buy Box.
Before you start
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You need to have a Repricer.com account. To find out how to create one, click here.
01 What is Repricing?
At its most basic level, repricing refers to an alteration in the price of the products listed on your Amazon site, web store, or any other additional marketplaces you sell on, such as eBay. There are numerous reasons why a seller would want to change the prices of their products including, rising overheads (storage, labor, shipping), the product’s perceived value going up or down, or a shortage or abundance of stock on the marketplace.
The most influential factor, however, is competition. The most intense level of competition in the wider world of retail right now is without a doubt online. It is where all of the major brands and independent sellers are focusing their main efforts. The ultimate goal of repricing is to make sure you beat your competitors to the sale and get in the Buy Box to get more sales.
02 What is the Buy Box on Amazon?
When a customer lands on an Amazon listing, Amazon chooses one seller and puts their details in the Buy Box - the white box on the right-hand side of the page. When a customer clicks on the Add to Basket button, the sale goes to the seller in this box.
The Buy Box accounts for over 80% of all sales on the Amazon marketplace. If you want to increase your profits then getting your products into that lucrative window is a surefire way to do so.
Note: The algorithm behind Amazon’s Buy Box is a tightly guarded secret. However, we can with some certainty say there are a number of factors that contribute to Buy Box ownership: Price, Seller Status, Fulfillment method, Shipping Time, Order Defect Rate (ODR), Feedback Score, Consistent Stock Level.
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03 How does Repricer.com work?
Repricer.com is the only Repricer on the market that is an official Amazon Web Services partner. This means that our software is hosted by Amazon and ensures we respond instantly to price changes.
Repricer.com receives notifications from Amazon when there is a price change on the ASIN you’re listed under and will react by repricing your products according to the strategy settings you’ve specified. Unlike most Repricers on the market, Repricer.com reprices up and down, which means that you can beat your competitors at a higher price and prevent a race to the bottom.
Repricer.com interacts with Amazon's API, so once a price change takes place on your ASIN, it is notified within 90 seconds. This means every time one of your competitors changes their price or goes out of stock, your strategy will immediately kick into place.
The graph below shows you the entire repricing process with Repricer.com, this applies to your account 24/7:
Note: Repricer.com reprices the Landed Price, which is the total cost of the product to the consumer (inclusive of all costs, tariffs, and charges) plus the shipping cost.
If you’re currently using a Sale Price on Seller Central, you would need to remove it as Amazon’s API doesn’t allow us to reprice these.
Pro Tip: Using Repricer.com will save you a huge amount of time as you won't have to optimize your prices manually anymore! You can then use this valuable time to concentrate on other aspects of your business!
04 What are Events and Events Per Minute (EPMs)?
Events are competitor price changes that trigger Amazon to send notifications to Repricer.com.
Events Per Minute (EPMs) refers to the number of events that Repricer.com will process every minute in relation to your listing.
Further Readings
If you want to find out more about creating a Repricing Rule on Amazon, click here.
If you want to find out more about creating a Repricing Rule on eBay, click here.
