Amazon is an extremely competitive marketplace that pushes sellers to do their very best to add compelling options and high-quality service in order to stay relevant. A key factor in making your mark is to set your product pricing right. Many factors play a major role in it, and it often gets tedious.
Sellers are leaning towards AI solutions, with repricing tools becoming more than plain buzzwords in the community. Here’s how sellers can find the best repricing tools for their stores:
Continuous Amazon Repricer
A seller is often unaware about when they need to adjust their pricing. The procedure should be dynamic and eventually requires a software tool. Monitoring the pricing can get tedious as it may require consistent updates, which can be a hurdle for someone with other responsibilities as well.
A repricing tool is extremely handy, as it does all of the work for you. Make sure to assess whether the tool is offering a good update rate—some tools provide constant updates round the clock, each day.
Buy Box Focused Tools
Most buyers aren’t really aware of the Buy Box, but for sellers, it’s an essential part of the game. Winning the buy box is a priority for sellers who are cashing in on Amazon revenue for their success. Repricing tools should be focused on helping sellers not only win the buy box, but optimize strategies and pricing so that it’s an incentive for people to buy the item.
Obviously, it will generate more sales and profit for you by making sure the buy box remains in your favor.
Most importantly, the pricing tool of your choice should fit your budget. While higher-tier packages provide more incentives, the law of diminishing returns might not play out so well and you may not necessarily require some of the features they offer. Pricing tools generally aren’t rigid, and you should go with an option that offers the best bang for your buck.
Doing thorough research is important before you drop top dollar on any repricing tool. Serious Amazon sellers these days use a solutions that connects the most important aspects of their business into a single intuitive dashboard – price management, replenishments, reimbursements, analytics. To learn more about about Eva or start a free trial today.
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