How To Get The Buy Box Using Tools for Amazon Sellersmikey
Amazon is the top e-commerce site in the world, holding the world’s largest sales and profits. It has even expanded to some parts of the UK. And up to this date, the estimated traffic of Amazon per month is 2.012 Billion. That’s a large number of people visiting its site!
Because of the opportunities that Amazon offers, it has now become a platform for sellers. There are two types of sellers at Amazon: Amazon and Third-party sellers. Amazon doesn’t only own the site but also offers a wide range of products. Third-party retailers use the Amazon platform to sell their products. They are only called resellers because most of the sellers at Amazon tend to sell the same products. And this is where the competition enters. As the competition for the buy box arose, so did tools for Amazon sellers to win it turned up.
It is possible to generate sales on Amazon without Buy Box but if you want to gain more profit, you have to win the Buy Box. Think of it like this: up to 90 percent of Amazon’s sales go through the Buy Box. That is a figure of around $100 billion a year!
What is repricing and why does it matter?
Repricing is basically the seller changing the price of their products. Because of the competition for the Buy Box, sellers opted to repricing. If you were a buyer and you see the same product offered by different sellers, you are most likely to buy from the most competitive price. Given with good reviews and good delivery offers like fast shipping, for example.
As a seller, pricing is crucial. You can’t offer a price too high or you’ll repel potential buyers. You also can’t offer a price too low or you’ll lose profit. You need a definite strategy on how you can rise above the crowd and beat your competitors.
How do I choose the best repricer for my Amazon products?
You sure can do manual repricing and work day and night going through your listing. But we cannot express enough why an automated repricer is a necessity in your Amazon career. It saves time and minimizes errors. It also provides a smart way of analyzing your progress as an online reseller. Your repricer tool is practically your strategy. With many amazon tools on sale, how do you make the right choice in choosing a repricer? We’ve provided you a checklist to help you choose the best tool for you!
- User-friendly setup
The first thing that you should look out for when choosing a repricer is its setup. It is important that you can easily understand and take on the system. Great features are useless if you have to consume time finding your way around it
- Algorithm-Based Repricing
Although rule-based repricers could work, it is still far too limited. Particularly if your competitors are using advanced tools. If you want to dominate the competition, you have to work smart. Algorithm-based repricers do the maths so you can be busy planning the improvement of your business. Calculating the best price for your product according to your competitor’s information and producing a pricing strategy that does not go below the minimum or above the maximum price range of Amazon. Preventing suffer from loss, and ensuring that you get most sales and profit.
- Competitor Monitoring
As a seller that aims to succeed in the business, you need a repricer that covers a wide scope of competitor pricing. It is important that you have full control over your competitor’s moves. Gathering their information will help you set a specific goal for yourself. So that you can target the areas you need to improve on. Wise choice!
- Cloud-Integrated Software
As we are competent, so our software must be. There are a lot of issues that we might face with our system. Crash, internet troubles, and the likes. You have to make sure that these circumstances do not affect your repricing. A cloud-based software ensures functionality even when your computer is off.
- Repricing Speed
When it comes to repricing, speed is everything. You can never be too late or too early with pricing. You never want to get the lowest price because if so, you’ll never gain profit! In a vast range of repricers, choose the one that reprices fast!
- Analysis Report This functionality is important to keep track of your progress and the competition of the market. Price changes, product competition, and pricing history are necessary information that you need to get your hands into. It gives you an overview of how your repricing strategy is doing, and help you redevelop to produce the results you want.
- Customer Support
Most people overlook the importance of customer support. Do not be too excited about the features and promises that repricing tools offer. There will always be a time that you’ll need help with anything. Make sure that support options are available and they are included in your payment.
- Notable Cost
There are a lot of pricing plans and each varies with every repricer. Most providers offer monthly and annual plans. Even so, choose an option that best fits your need. Make sure that what you’re paying for will deliver its promise and boost your earnings.
- Free Trial
If you are someone who doesn’t want to waste precious dollars to a tool you thought would work, then this is your best bet. When you choose a repricing tool make sure that it allows you to access its premium features for an amount of time. Trying out its features will help you decide if the tool is for you or not. And save you some cash if you suppose that it is not.
The market is loaded with repricing software and all promises the same thing: That you gain profit. There is no one-time formula for the best repricing strategy. After all, it takes trial and error before you can find the one that works for you. And when you do find the perfect strategy for you, do not let it go. Ever. It’s tempting to change strategies when you’re presented with a better-promising tool. But think about how much time you’ll waste by relearning a new tool again! Constantly changing strategies actually obstructs your flow and competitiveness. The key here is to be objective at all times. Never do anything out of impulse especially in repricing your products.
Nonetheless, Aside from making money, your customers must be your first priority. Repricing tools may provide a great advantage but it does not guarantee your long term success. If you maintain a good customer relationship, everything else will follow. Remember, Amazon is customer-obsessed.