How to Reprice with AI Conditional Repricer?
Navigating the vast possibilities offered by BQool Conditional Repricer can sometimes be daunting, leaving you unsure about the optimal repricing plan for your listings. With many diverse combinations of repricing strategies, how can you configure your go to repricing rules to best fit your business goals? In this article, we will explore the advanced settings of BQool Conditional Repricer and how you can tweak it better with customized settings. We will share tips and examples to help you understand the advanced parameters of Conditional Repricer and how you can build a strategic framework fitting your business objectives.
How does BQool AI Benefit from Conditional Repricing?
When you are setting an AI conditional repricing strategy on BQool, it is important to understand how BQool AI operates. Each AI has a preference for either sales or profit, with some prioritizing sales volume by cutting prices, and others focusing on increasing profit over sales.
*BQool AI Strategies by Numbers
- AI Sales Maximizer 2. AI Sales Booster 3. AI Equalizer 4. AI Profit Booster 5. AI Profit Maximizer 6. AI Boost Profit 7. AI Grow Profit 8. AI Max Profit
This graph highlights the four key variables: Higher Buy Box %, Lower Buy Box %, Higher Price and Lower Price that AI will consider when repricing items on Amazon. The position of AI strategies shown on the graph reflects AI’s affinity with either Price or Buy Box win Percentage %. Traditionally, Amazon resellers often face tradeoffs between these metrics and maximizing one typically means compromises on the other. However, with the help of conditional repricer, sellers can take advantage of custom conditions to increase both price and buy box win % and achieve a win-win. Conditional Repricer can also empower sellers to navigate between sales and profit, the two ends of the spectrum, with customized repricing strategies that automate price adjustment based on multiple market conditions to yield impressive outcomes such as increased profit or sales depending on the user demands.
4. AI Profit Booster 5. AI Profit Maximizer
Consistency and Non-Contradictory Strategies
Consistency is the key to develop a successful repricing strategy with Conditional Repricer. The inclusion of different types of conditions that may potentially contradict with one and another can complicate and hinder repricing results. If you are new to conditional repricing and you wish to set up a conational repricer, we recommend you select conditions that fall in the same category rather than scattering random conditions without any logical equivalence. For example, if you wish to include more conditions in a Unit Sold repricing strategy, you should stick with sales-related conditions.
Scenario – You Want to Increase your Profit and your Sales with Conditional Repricer
In this scenario, we want to increase our profit and sales: the first set of conditions will prioritize highly profitable items with strong Buy Box metrics and recent sales volume. The second set will focus on the items with still decent Buy Box share and solid previous sales, where sacrificing a little profit can potentially drive more sales volume.
A. “First Main Condition”
- Buy Box wins / greater than or equal to 80%.
- Units sold (last 7 days) greater than or equal to 50 units.
We have implemented “AI Max Profit.”
🔎 Why did we do that?
In this example we use a two-condition approach. The first condition is our primary goal, targeting listings with at least 80% buy box wins. The sub condition that we have set up will filter out listings with fewer than 50 units sold in the last 7 days. This setup allows the Repricer to prioritize the primary condition while also considering the secondary requirement based on units sold.
For instance, if your Buy Box wins is above 80% but the units sold in the last 7 days are only 47 pieces, the Repricer will automatically switch to the next set of rules to determine if it can meet your requirements.
We have decided to assign AI Max Profit to increase your profit without undercutting the Buy Box price.
B. “Second Main Condition”
- Buy Box wins greater than or equal to 50%
- Units sold (last 7 days) greater than or equal to 30
The AI Strategy that we have implemented is “AI Sales Booster”.
🔎 Why did we do that?
This time, we want to prioritize sales over profit and filter out listings that do not meet these requirements. This also secures listings that may not meet the primary condition but can meet the secondary one.
The AI Sales Booster rule has been chosen to dynamically reprice and increase your sales without being too aggressive.
C. “Safety Net”
If the conditions you have set up do not work, Conditional Repricer has a safety net in place to keep the repricer active and produce results.
🔎 Why did we do that?
We have implemented the AI Equalizer Strategy for the “safety net’, which we believe is the most suitable for this purpose. Indeed, this rule ensures that the repricing outcome will not be too aggressive for your listings, regardless of the circumstances. The default rule setting is AI Equalizer Strategy, but you have the option to change the rule if needed.
💡 Good to Know
The Repricer follows a top-to-bottom approach but remember that on Amazon your listings conditions change daily. Initially you can meet the first main conditions but then the next day it can change. Conditional Repricer switches to the safety net if no condition is met. Then each time the data of your listings is updated, the repricer restarts to check (top-to-bottom), if it can meet the conditions that you have set up.
The advanced parameters of BQool’s Conditional Repricer provide sellers remarkable flexibility to optimize their Amazon repricing strategies. By leveraging different AI Strategies, sellers can navigate the spectrum between prioritizing high sales or increasing profit margins. The key is taking a structured approach, setting up logical, non-contradictory conditions that align to filter the desired outcomes. As we wrap up this deep dive into Conditional Repricer’s advanced configuration, while we admit it, the vast possibilities may seem daunting at first, taking a methodical, strategic approach allows sellers to achieve impressive results.
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