Today’s world is a free marketplace where anyone can undertake any business activity, barring a few. With the advent of the Internet, things have gone to the next level altogether. The Internet provides an open and unlimited platform for business people to operate in the form of eCommerce.
If we are talking about the eCommerce industry, the first name that comes to mind is Amazon. Amazon is a giant that flaunts the largest eCommerce platform with millions of transactions happening daily. There is hardly any product which you can not find on Amazon.
Amazon provides various benefits like access to a global market, ease of secured transactions, and auxiliary services to the sellers. Moreover, the shopping trend is changing from physical stores to digital stores. Both of these reasons, compared with various other reasons, have made it imperative for a business to have a digital presence.
Because of the broad market which Amazon provides, it is mandatory for all the businesses to partner with Amazon. Due to this, the competition on Amazon has become cut-throat, and the sellers have to devise different tactics and strategies to gain an edge over other sellers. Well, you cannot blame any seller of commodities for this. Everybody wants a larger share of the pie. In this post, we have featured detailed RepriceAlytic review which includes detailed insights into this platform.
RepriceAlytic Review: Do You Really Need This Tool (TRUTH)
What is Amazon Repricing?
In this war, to have the most significant sales amongst rest, repricing has become an essential weapon in every seller’s arsenal. The question to ask here is what is Amazon repricing? Amazon repricing refers to adjustments in the prices of the goods that you are selling, depending on the market conditions.
You must wonder why you should go for dynamic pricing? The answer to this question is simple. You need to go for dynamic pricing because this is the only way to survive in the market. To understand the answer to the question ‘Why dynamic pricing or repricing strategy for Amazon?’, let’s look at some benefits of this pricing method.
What are the Benefits of Amazon Repricing?
Remain in the competition
The most significant benefit of choosing Amazon repricing is that it allows you to remain in the competition. Consider that you are a gym equipment seller on the market who sells a jogger at Rs. 10,000, which is the mark-up price. When the market is slow for gym equipment, you will notice that many of your competitors will significantly reduce their rates.
If you fail to react to other brands’ repricing, you stand a very likely chance of losing essential business. This makes it imperative that you include repricing as a necessary aspect of your pricing strategy.
React to market dynamics
What is the hottest selling product at the time might have no demand in the future due to technological advancements? The market is ever-changing and evolving. Being flexible with the products’ pricing is essential to allow you to react to the changing market dynamics.
Also, consider that you start a product line that you think will be a hot commodity in the future. When the time comes, the product excels over your expectations. In case you get stuck with a fixed price, you will not be able to benefit from the product’s demand in the market. This makes it essential to have a repricing strategy incorporated into your brand.
Gain an edge over your competitors
Pricing war often decides who will earn the maximum share of sales in the market. Having a slightly low price might help you make huge profits. So, it becomes crucial that you make critical strategic decisions involving changing the product’s cost whenever the need arises.
Earn Amazon Buy-box
Amazon Buy-box is the option that comes next to the product that allows the buyers to buy the item directly. You can only earn this buy-box and not gain it through paid channels.
It is also worth mentioning that a product with a buy-box on its product’s landing page can earn over 30% of the total sales. When you are repricing your products, it increases the credibility in front of Amazon, and you have more chances of earning it. But of course, you need to fulfill certain prerequisites to qualify for the buy-box in the first place.
While these are a few of the primary reasons why repricing is an essential tool in your pricing strategy. The next question which must come to your mind is, how to, how much to and what to reprice. This is an important business decision that needs precision. Mere guesswork will not help you here.
When considering the questions related to the pricing strategies, you have some companies that are offering to take care of repricing for your products. Let’s try to understand what Amazon Repricing Tool is.
What is Amazon Repricing Software?
Amazon Repricing Tool or software is a program that does product repricing for you on Amazon, automatically responding to various market conditions. This software is based on AI and allows you to set business goals.
While you can do the repricing of your products manually, the repricing of the entire portfolio will become difficult if you have more than three products in the catalog. Also, you’ll have to keep a constant watch over the market prices for products similar to yours. All of this manageable for a handful of products. Things become challenging whenever the list of products that you want to involve with the repricing strategy is long.
This is where Amazon Repricing Software comes in. This repricing software is designed based on AI and data to take care of repricing for you. This software keeps a constant watch over the market and reacts instantly whenever they see some movement in the market. In order to better understand the importance of Amazon Repricing Software, let’s look at some of its benefits.
What are the benefits of using the Amazon Repricing Software?
The Amazon repricing tool helps to modify the price of listed products easily. Prices on products are changed frequently, assisting buyers to gain the edge over the others available. Once in ten minutes, at least one product’s listing price will alter. Amazon can have up to 2.5 million such changes occurring daily. The price changes are done to help sellers price their products competitively and help keep their profits going up. But with the thousands of products listed in Amazon, physical checks are next to impossible. Thus using such a repricing tool can help make the difference in promoting sales growth.
What are the things to consider before choosing an Amazon Repricing Software?
There are so many Amazon Repricing Softwares and Tools available in the market that choosing one out of them can be a gigantic task. All of these tools come with some specialties and some standard features. But before you finally decide on one software for your business, there are certain things that you must keep consider.
Brand or product requirements
Every brand and product is different from one another. A software which works for you might not work for somebody else and vice versa. You must understand your business requirements, compare your needs with the features provided, and then only choose the best fit for your company. Some of the main things that you can check are –
Cloud-based or offline software
Whether the software is cloud-based or it can be used offline.
Operating system and internet browser compatibility
Make sure to check the operating system and web browsers that the software supports.
Compatibility with current Stock Management System
There are high chances that you already have a stock management system. In such a case scenario, make sure to check if your new Amazon Repricing Tool is compatible with your old tool or not.
Other eCommerce platforms supported
Amazon is not the only place where you will like to list our products. In case you are also using other eCommerce platforms like Walmart Marketplace or Shopify Digital Stores, make sure to check if your new repricing tool supports those platforms.
Currencies and languages supported
There is a possibility that you use a language or transact in a currency, which is uncommon. In such cases, you should check if your new tool supports that language and money or not. Otherwise, your entire investment will go to waste.
Repricing tools come with various features and benefits. The list of such benefits and features that these tools provide is limitless. However, all these features will not be useful to you. It is essential to notice that which function fits well with your business needs and objectives. Some of the features that you might want to have in your Amazon repricing software are-
The Amazon repricing software that you want to integrate with your business must support minimum and maximum prices. This is primarily to help you keep control over product pricing. Just imagine that you have a product which costs $10. Also, the minimum price you are willing to sell for is 11$ or maybe 10$ in worst-case scenarios. Just imagine that the market acts up, and your pricing software doesn’t have a minimum limit. In such cases, your repricing tool might reprice your product at $8 or $7, which will make you lose money.
Buy Box is an essential factor that you must consider when selecting an Amazon repricing software. A buy box can drive sales in a business. One of the primary objectives of repricing
software is to help you earn that buy box. Do some research and discover if your software is efficient enough to help you obtain the buy box or not.
Ability to react to market dynamics
How quick your Amazon repricing software is to react to market dynamics is often the key to a successful repricing strategy. A second late, and you stand a chance to lose crucial sales.
The Amazon repricing software that you choose must be quick to react to market dynamics. There is simply no point in getting a repricing software, which is slower than the manual method of repricing.
Repricing Principles and Rules That the Software Follows
Different repricing software are based on different repricing rules and principles. While these softwares run algorithms to determine the most efficient rules to operate, some software is just better.
An efficient and well-designed repricing software will help you to configure your own rules and incorporate principles. Some of these rules and policies are-
- Your software should support you in competing for the third or second-lowest price.
- The software should be able to increase the prices when the demand for products similar to your rise.
- On days, such as public holidays and festivals, it is vital that your software aggressively earns more.
- There is a massive cluster of data available out there. This data always includes insignificant brands and their details, making the data challenging to comprehend and more complex. Make sure that the software that you choose can ignore those irrelevant competitors.
Easy setting up process
Setting up Amazon Repricing software can be a time-consuming and challenging task, especially when the developers of the software have not given specific attention to this aspect. This possible difficulty in installing the software makes it imperative that you choose a repricing software that is easy and quick to install. Additionally, you can look for the following features in a repricing software which will help you save time and effort.
- The software must facilitate bulk changes.
- The repricing software must allow you to make the changes quickly.
- Natural filtration processes in repricing software can make life a lot easier.
- If the repricing software facilitates live system tracking then that software must be efficient.
- Cost is one of the most crucial factors that you need to consider while choosing for Amazon repricing software. Some of this software are very expensive and will cost more than the benefit that they will provide. So, it is suggestible that you make a price-benefit analysis before subscribing to one software.
Free Trial Period
These Amazon Repricing Softwares can be tricky. The UI of this software might look easy at first glance, but will become difficult as you keep using it. Because of this trickiness and flaws which surface later, it becomes essential you gain first-hand experience of the UI. A free trial before you finalizes a software will help you in many ways, including testing the UI.
Anything that technology builds is prone to glitches. Your service provider must provide you with round the clock support irrespective of the timezone that you work in. There are high chances that you might lose money if your software is not functioning correctly.
How does an Amazon Repricing Tool work?
Amazon’s repricing tool’s sole purpose is to make life simpler for the seller. This purpose of the software makes it essential for Amazon repricing tool to work in a simple and easy to use manner. Let’s look at the stages of how an Amazon repricing software works.
- The first step along the process is to set up a maximum and minimum price.
- The next step is to decide the pricing rules and principles that should conform to your business objectives and strategies.
- After you have put in your standards, you can decide on various filters and customize your dashboard.
- Once you have set your dashboard, you’re all set to reprice your products with the help of your new Amazon repricing tool. This tool will make sure that you gain that edge over your competitors, which you always wanted.
RepriceAlytics Review: The Lit Amazon Repricing Tools
RepriceAlytics is one such powerful Amazon repricing software designed to help you gain the maximum amount of sales. RepriceAlytics is a user friendly, cost-effective, and efficient software that uses advanced algorithms to decide your pricing.
RepriceAlytics is quick and is supported by efficiently managed and crunched data. In order to understand RepriceAlytics in a better way, let’s look at some of its key features and benefits.
Key features and benefits of using RepriceAlytics & Amazon Repricing
- User-friendly interface
RepriceAlytics has a very easy to use yet efficient user interface. RepriceAlytics’ interface is made keeping in mind the requirements of an average seller. So, yo
- Easy Installation
RepriceAlytics comes in as an easy to install a chrome browser extension. All you have to do is click on the install button, and RepriceAlytics will take care of the rest for you.
- Complete guidance
Our team of experts and support executives help you in the complete process of learning how to use RepriceAlytics. Our easily approachable team is available to you without any time constraints. Our guidance counselors will help you learn everything vital that you need to learn for using RepriceAlytics.
- Free Trial
When you prefer to take a test drive of the new vehicle that you intend to buy, why not try this software before you take its membership. RepriceAlytics offers a 14 day free trial period. During this trial, you’ll have free access to the essential features. With the help of this free trial, you can try RepriceAlytics and understand how to use it. You can also have a look at its various features, which will help you decide if RepriceAlytics is the right fit for you or not.
- Detailed and insightful reports
RepriceAlytics provides you with ready to use and insightful reports. These reports cover your average ranking for 12 months, average market pricing data, sales rank, pricing history, and much more.
These reports come in very handy when you need to analyze your business. With the help of reports like Keepa Charts, Sales rank report, etc., RepriceAlytics helps you make critical business decisions.
RepriceAlytics is highly cost-effective. Even if RepriceAlytics manages to help you reprice your product successfully once, it’ll make up for the investment you make in it.
Various techniques used by RepriceAlytics
RepriceAlytics uses various techniques to optimize your Amazon repricing strategy so that you can make most of it. To this cause, RepriceAlytics uses multiple methods and techniques to help you. Let’s look at some of these methods and techniques.
Profit Maximizing technique 1
RepriceAlytics can help you add a new column to your ‘Amazon Manage Repricing’ page, which shows the average ranking of your product amongst millions of other sellers for the previous 12 years. This technique helps you understand the real picture of the demand for your inventory.
Profit Maximizing technique 2
RepriceAlytics can also help you add another column to your ‘Amazon Manage Repricing’ page showcasing the prices of different similar products for the present month’s name from last year. This helps you gauge the real seasonal monetary value of your stock.
Profit Maximizing technique 3
Additionally, RepriceAlytics also helps you add one more column, which depicts the average price for different brands’ similar products for 12 months, helping you understand the actual value of your stock.
Profit Maximizing technique 4
Helping you access all the FBA offers of all the items helps you understand nature and offers given by your competitors. This information about the suggestions given by your competitors can help you make future decisions and formulate different strategies.
Profit Maximizing technique 5
RepriceAlytics helps you browse different books from other brands. It allows you to see their pricing and rank history for six months. RepriceAlytics enables this with the help of Keepa. Additionally, you can browse these records for comparisons without having to leave your repricing page.
While most of the similar tools in the market are highly-priced, they lack in one way or another. RepriceAlytics, however, are very cost-efficient and lets you reap many benefits without having to burn a big hole in your pocket.
RepriceAlytics is currently priced at $ 27 per month. In addition to highly competitive prices, RepriceAlytics also offers a 14 days free trial period. These free trial periods are beneficial if you are still trying to make up your mind about which software you should get for your Amazon FBA page.
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Conclusion: RepriceAlytic Review 2020 Should You Buy It ?
Integrating Amazon repricing software is a time-consuming process that involves a considerable amount of money. Due to these challenges, changing a repricing software when the integration with the system is already done can be difficult.
This makes it imperative that considerable thought is paid to various aspects before you finalize Amazon repricing software. A team of experts developers and programmers have built the RepriceAlytics. RepriceAlytics is not only cost-effective and time-saving but has all the essentials that an effective Amazon Repricing Software must-have.