What factors derive the success of an eCommerce business? While there are so many in competition in the eCommerce industry, think about it from the perspective of your kingpins, the customers. It is undoubtedly the price competitiveness and the convenience to access the platform that makes one successful.
If you are a seller of a product and have registered on Amazon Seller online, you might surely be aware of how important is price competitiveness and how profoundly it impacts a buyer’s behavior. And it would definitely happen to be it an online store or an offline one. A buyer will always want to get the best discount possible. But looking from the business owners’ point of view, these factors count to be an exhaustive process. Many times, the business owners end up shifting their focus from business growth to identifying how to change the prices to make it competitive.
In case you are an Amazon seller, here’s what you should know. Last year, Amazon launched a new tool for its sellers that addresses the situation mentioned above. The tool allows the sellers to focus on other aspects of selling online. This tool enables the sellers to auto update the price of products and selling products at competitive prices to buyers leading to increase in sales. The tool has been a great help since it could be seen that the small businesses ended up beating the larger ones. Conclusively, it assures the moving of inventory of sellers in the form of discounted sales.
You may be wondering how this tool compares the manual repricing? Does it really simplify Amazon sellers’ lives? Let’s find out.
Manual Repricing is time-consuming
The Manual repricing of products on an online marketplace is tough. Consider a situation where you have to reprice products in bulk? It will definitely be time-consuming, right? And, you will have to recheck multiple times to avoid errors. After all, Human errors are inevitable. Making an error when manually updating bulk listings can get really tough on your profits. This is the first instance that proves automated tool eases one’s life.
Automated Repricing improves speed and frequency
Secondly, the automated tool at amazon counters to speed and frequency. Manual repricing cannot happen at the same speed as that of an automated tool. Moreover, the frequency at which the prices change is a big challenge if considered manually.
Automated Repricing keeps check on competitor prices consistently
The Amazon Automated repricing tool keeps checking for competitor prices consistently. It guarantees no human errors and therefore improves your overall profits and sales. Furthermore, the tool is absolutely free of cost which makes it even more attractive among the sellers. It ultimately controls the listings and helps you precisely the way you want to price them.
The sellers can set-up the rules for automatic adjustment and mention the minimum and the maximum prices allowed. Moreover, the sellers have the authority to choose what kind of offers they wish to opt for. The can choose among the following:
- Offers only with the same fulfillment method
- Offers only with the same or better sub-condition
- Only sellers with a 5% feedback rating within of yours, or higher.
In case you haven’t registered on Amazon seller portal yet, you may register and use this tool for free.