What is Amazon Repricing?
In simple terms: changing the price of products on your sales listing on Amazon’s marketplace is called Amazon Repricing. In general, Amazon sellers often change their offering price because of many reasons such as cost, competition, shipping, and variations in industry value.
Actually, competition is the leading cause prompting this trend in the Amazon marketplace. You will be surprised when you know about the 2.5 million daily price changes on Amazon. About every ten minutes, prices change on individual listings. These price changes can help sellers keep their prices competitive, increasing sales and gaining more profit. Most Amazon customers won’t even notice these continuous price changes.
However, some tools are available in the market that provides you with automated Amazon Repricing. These tools help you win the “Buy Box” and sell more with subtle pricing tweaks.
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How Do Amazon Repricer Tools Work?
Each Amazon Repricer tool may work differently based on your set rules and parameters. Typically, you can select the minimum and maximum price and set a minimum target profit margin. Basically, sellers choose the preferred repricing rule to adjust listing prices. Every repricing scenario follows a specific rule, a series of parameters based on each business competitor.
The software lowers or raises your price by comparing your price with competing products accordingly. By adjusting your product price automatically, these tools increase “Buy Box” ownership, which affects your Amazon business success.
You can connect the account to your Amazon Seller Central account after creating an account for your chosen repricing tool by using Amazon MWS keys MWS stands for Marketplace Web Services. MWS consists of two numbers:
- Your Seller ID number, which is public and searchable on Amazon’s site
- An MWS Auth Token
The Repricer tool will access each sales item on your listing with MWS keys. Entering your product costs, choosing the competitor you want to price against, setting pricing rules are possible after your products are synced with the Repricer tool. After completing all these steps, the Amazon Repricer will start changing the price of your products on Amazon based on your criteria.
Principally, some Amazon Repricing tools have default rules, while the others allow you to have your customized one.
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What is the Difference Between Manual and Automated Repricing?
Amazon sellers often change the price of their products in their listing based on their selected strategy. Besides, during certain Amazon events such as Black Friday, Amazon Prime Day, or Cyber Monday, the price fluctuates, and the main purpose is to sell the products in stock for a long time, and sellers want to get rid of them.
In general, there are two types of Amazon Repricing: manually or automatically.
While you define and change their product prices manually, the entire process is manual. In this case, you need to monitor all listings one by one, check the boxes, do all calculations, and enter results. Going through all of these is really tiresome. Besides, this tedious process can increase mistakes, so you must study everything thoroughly. Otherwise, you may end up selling at a loss.
If you choose to perform your Amazon pricing automatically, you must use an Amazon repricing tool. By using software, changing the product prices on Amazon listing will automate depending on the chosen pricing strategy and help you win the “Buy Box.” In addition, within a certain period, you can sell a preset number of units.
Once you define your strategy, Amazon Repricer makes a market assessment. It includes all critical competitor metrics and makes price changes based on that. The reasons why most Amazon sellers choose an Amazon Repricing tool to automate the pricing of their listing are:
- An Amazon repricing software doesn’t cost much
- You get more sales
- Keeping track of your competitors’ pricing consistently
- The control is still in your hands, in a better way
- Increase your profits and sales when there is no other competition
- Cash your time
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What Points Should You Pay Attention When Buying Repricer Tools?
When it comes to Amazon Repricing tools, you have a few options. Most tools offer almost similar features. But, you may find repricing speed, monthly subscription costs, the user experience, and many more. Although a repricing campaign is risky, choosing the right Amazon Repricing tool is essential to minimize your risk and maximize your profits.
There are 4 things to consider when choosing Amazon Repricer tools.
· Speed & Performance of Tools
When you want to increase your revenue by controlling your “Buy Box,” your Amazon Repricing software needs to react to price change quickly as it happens. The tool can quickly calculate the required changes to be implemented and perform them in real-time.
Indeed, you want your prices to update instantly, while some repricing tools will reprice your products every 5-15 minutes. So if your platform is slow, you can not win the “Buy Box.”
· Price of Repricer Tool
Not only the monthly subscription fee does matter. Actually, the ROI is significant. Some Amazon Repricers have a meager price, but their performance and features are weak. So consider that cheap is slow cause losing potential revenue. Making a healthy balance between cost and value is vital to having a tremendous return on investment and high profits.
· Innovation & Flexibility
What makes a Repricer tool significant is flexibility. An Amazon Repricer tool should be able to handle a multitude of situations you will deal with. Another important aspect is having a handful of setting with advanced strategies.
· Free Trial or Money Back Guarantee
Having a free trial is very critical. Be sure that after creating an account, you have full access to all tool features before adding your payment information, like the credit card info.
Best Amazon FBA Repricing Tools in 2023
Almost every day new Amazon Repricing tool is coming into the market. So, it can be overwhelming to figure out which ones are the best. Here, we select some of the best tools to introduce you. Let’s go over the top ten Amazon Repricing tools to help automate your business on Amazon.
Whenever necessary, Xsellco adjusts and updates product prices on Amazon with 7 predefined strategies 24/7. Starting price is monthly $85 and up to $1,249. With instant repricing, it is faster than your competitors. It can easily manage large volumes of inventory.
- Buy Box winners
- Stock levels
- Spy on rivals
- Learning curve
- Pricing Package
2) Informed (formerly Appeagle)
It is a well-known tool for automating price changes with proven strategies. Its plan starts at just monthly $49. Besides, it has the first 14days of a free trial. It tracks essential metrics using customizable graphs and charts to visualize profit, sales, etc. Its features a variety of ways to analyze the competition.
- Can be integrated with other eCommerce tools
- Set your desired profit margin and ensure you never dip below it
- Set time-sensitive sales objectives
- Incrementally raise prices to increase profits
- Shorter trial period
BQool Repricing is a cloud-hosted repricing solution designed for sellers on Amazon. You can start your 14day trial without entering your credit card info. The price for its Big Central Basic package starts from $10 monthly. It has a package of up to $500. It has 5 strategies that each of them has repricing scenarios, including aggressive, incremental, moderate, dynamic, and sales/profit-based.
- Reasonable fees
- Minimized selling time
- Reduced expenses
- Increased sales
- In-built profit calculator
- Repricing speed majorly depends on your pricing plan
It markets itself as the “best AI Amazon repricer.” This tool has a 15-day free trial without needing a credit card. The price for an accelerator program starts from $250 monthly and goes up to $800. You can cut down on storage costs, monitor competitors, manage inventory, monitor your own sales vs. returns, and BuyBox performance a lot more.
- Competition monitoring and tracking
- Different strategies for different scenarios
- Scheduled repricing
- Very expensive
This tool is super fast and reacts to competitors’ changes within 90seconds. Considering multiple factors such as feedback, price, inventory depth, and fulfillment Amazon’s algorithm wins the “Buy Box.” Based on these factors, “Repricer” adjusts your prices automatically.
- Saves time
- Easy to use
- Increased work efficiency
- Higher chance of a Buy Box
- Decreased chance of errors
- Increased sales
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Feedvisor is an AI-driven solution for Amazon, and its trial is 60 days for all sellers. It is an award-winning repricer and responds to dynamic market conditions in real-time. They offer nine different plans. You can choose how much and where you put your money towards.
- Actionable market intelligence
- Holistic analyses and actions
- Real-time pricing and advertising optimization
- Actionable market intelligence
- Nothing to be mentioned
This tools have various features. It offers Amazon search tools, pricing management, auto conversion to Amazon FBA, multi-channel inventory management. Besides, ChannelMAX has 30 days trial. The monthly subscription fee of ChannelMAX Repricing depends on the number of SKUs and the speed of repricing. The minimum plan starts at $34.99 for 500 SKUs(Stock Keeping Unit) every 2/3 mins repricing (also known as real-time reprcing). As the number of SKUs increases, the fee also increases.
- Customizable to the company’s needs
- Bases decisions on sales velocity and algorithms
- Provides a detailed explanation step-by-step for how their repricing process works
- Offers many features available with each service
- Cannot print labels for non-FBA orders from Amazon
RepriceIt.com is a price management solution that helps sellers maximize their profits by keeping Amazon prices competitive. Besides, it allows sellers to implement their pricing strategies to best accommodate their business models. The trial duration is 30 days, and the price range starts from $9.95 per month.
- Suitable for a tight budget
- Lets you experiment with a variety of different strategies
- Sets minimum prices and profit margins
- Capable of repricing up to 30,000 items an hour
- Can also exclude certain items from repricing
- It’s a little less robust than some of the other tools
- Limited access to data and analytics
9) Seller Dynamics
SellerDynamic allows sellers to sell across multiple marketplaces from a single dashboard. The trial length is up to 14 days. Basically, the price range starts from $120 per month for up to $140,000 in annual sales.
- Low risk
- real-time, automatic repricing of items based on specific markets and trends
- Nothing mentioned
10) Sellery (Sellerengine)
Last but not least, Amazon Repricer is Sellery which helps sellers help “maximize sales, profits, and Buy Box ownership.” You have access to a free trial for 14 days. The price is 1% of your gross monthly sales, with a minimum charge of $50 per month and a maximum charge of $2000 per month.
- Can help turn your Amazon business into a global empire
- Real-Time Repricing
- Research products in bulk
- Limited support of OS – cannot directly run on MAC OSX, Linux, etc
The best decision to start finding the right product to sell on Amazon is using Online Arbitrage sourcing list. The next step would be repricing in real-time to win the “Buy Box.” Accordingly, you need Amazon Repricer tools which we nailed down ten of the best in the above post. Regarding to the last point, you have the chance to try them for free. They all have a minimum free trial for 14 days, with no credit card required.