It doesn’t matter if you are an independent merchant or just want to start a new journey in online marketing; the most essential tool you act as a magnet to absorb customers is your products’ prices.
As a massive global market, Amazon is sensitive to prices, and you need to set your products carefully. This guide will help you use an Amazon repricer and why we should have at least one of them.
What is an Amazon repricer?
By definition, Amazon repricing is changing the prices of products on Amazon’s marketplace. Why did they change the prices? Because many factors that affect the price, such as shipping storing, and competition, are different from one business to another. Nowadays, several third-party tools can help sellers in repricing.
There will usually be multiple sellers all competing for the sale for each listing. Those sellers who aren’t priced competitively are unlikely to get a deal or win the Buy Box. The point is; you cannot set prices manually as there are so many sellers to compete with them.
What are the advantages of using an Amazon repricer?
We can summarize them into four main fields as follows;
1.React fast to the market
Setting prices manually means that your reaction to the market’s waves will be slow. Do you really want to spend hours and hours just on this thing? You can skip all of them let the Amazon reprices do their job.
2. More money earned, less money spent on labor
Based on the ratio of labor hours to revenue, you want to try and minimize the amount spent on repricing as much as possible. But this is in controversy with repricing items manually. With an Amazon repricer, you can save your budget and use it to develop your business.
3. Take multiple factors into account
If you want to set the prices manually, I am definitely sure you cannot handle all possible affecting factors in your mind. In contrast, the software has no problem with it, and it can put all elements next to each other at the same time.
4. Minimize your margin of error
The beautiful thing about a machine (or software) is it does exactly what you tell it to, nothing more and nothing less. It never gets tired and makes a mistake because of being tired. As a result, it is better to put an Amazon repricer tool in the task and a human supervisor.
How do I use an Amazon repricer?
Although there are many patterns, it is better to use a simple strategy to work with an Amazon repricer. Basically, a tool needs three factors to start working;
- Minimum and Maximum prices
- Strategy applied
- Active inventory
The biggest mistake which you may also make is that many sellers opt to set wide minimum and maximum price ranges. This doesn’t seem right. Statistics show that higher performances can be achieved when min and max prices are close to each other.
Once you have completed the mentioned steps, the Amazon repricer will begin to watch the products on your marketplace and update them as needed, increasing Buy Box ownership and sales.
As your business grows, you will see that your time is very limited just to set the prices compatible with the market and need a little bit of automation. Here is the place which you need a nice Amazon repricer.
Top 10 best Amazon repricer
You can find repricing tools in many shapes and sizes. While some of them are suitable for getting familiar with the repricing process, some professional software can make a big difference in your selling statistics.
When looking for an Amazon repricer, consider three elements of flexibility, cost, and automation speed, as they will make a repricing software the best one. Here, we have gathered the top ten Amazon repricers guaranteed for any Amazon seller;
RepricerExpress
Compatible with both Amazon and eBay, RepricerExpress is aimed at Amazon FBA and Featured Sellers and helps you set up your repricing strategy. If you want to purchase RepricerExpress as an Amazon repricer tool, plans start at $55 per month for sellers with less than 2,500 SKUs and go up to $249 per month for sellers with 50,000 SKUs.
RepriceIt
If your budget is limited but still looking for affordable Amazon repricer software, take a look at RepriceIt. This tool starts at $9.95 per month if your inventory is under 500 SKUs. More after, there are seven different types of plans for the seller at each stage.
SellerRepublic
If you are just a newbie and want to learn about repricing, SellerRepublic has almost all standard tools which an excellent Amazon repricer should have. It has a quick setup and a user-friendly interface. SellerRepublic’s Lite plan covers up to 50 listings and costs $8.95 per month. To cover 500 listings, you just need to pay $18.95.
Sellery
If you want to spend on your Amazon repricer based on your sales, Sellery is a good option. Designed by SellerEngine, it can draw your selling strategy to make your business profitable. As mentioned earlier, Sellery will cost you 1% of your sales, starting with a minimum of $100 a month and a maximum of $2,000.
BQOOL
BQOOL is one of the most reliable Amazon repricers, which updates the price multiple times within an hour and tracks the competitor’s price simultaneously. The repricing in BQOOL is available with Amazon US, DE, FR, IT, CA, UK, JP, and MX.
Teikametrics
One of the best options for Amazon FBA sellers with extensive inventories is Teikametrics. This Amazon repricer helps you to maximize your assets by setting prices correctly; however, Teikametrics is not an all-in-one solution for your business and is also somehow expensive.
ChannelMax
If you are seeking an Amazon repricer with multi-channel inventory management, try ChannelMax. This software comes with the auto-convert listing from the other non-Amazon platforms to the Amazon FBA. You can also use ChannelMax’s calculator to find the best minimum price for your products.
Wiser
Wiser uses a predictive Buy Box algorithm that calculates the maximum you can charge for an item and stay in the Buy Box. It can help you bring more attraction to your business and boost your position on Amazon.
Feedvisor
Similar to Wiser, Feedvisor is designed based on algorithmic repricing and uses machine learning to power up your repricing strategy in real-time. It can calculate the best price for each item you have on Amazon. Feedvisor is more suitable for large or enterprise sellers who are ready to invest.
SellerDynamics
As a cloud-based Amazon repricer system, SellerDynamics is designed for eCommerce sellers who want to organize their work in a much cleaner way. It has practical tools to reprice prices on Amazon and eBay, and it can also integrate with popular platforms like Magento and Shopify.
Summary
Thank you for reading this guide. We have explained why Amazon repricers are important and how to use them. Which Amazon repricer software is the best? The answer is entirely personal-related. All Amazon repricer tools introduced in this text are deserved to be purchased, but you should choose based on your business size and budget.