Are you struggling to manually update your prices on Seller Central? If so, you should start using an Amazon repricer. Amazon Repricer is an essential tool that you need to deal with constant price fluctuation on Amazon Marketplace. Let us define the basics of an Amazon Repricer before we talk about the two repricing mechanisms that you can set up with BQool Repricer to automate your listing prices and win the buy box.
What is a Repricer on Amazon?
A repricer is an automated pricing software that enables you to deal with price fluctuation automatically on Amazon.
Repricing is the process of amending the prices of the products that you are selling on the Amazon marketplace. Product prices on Amazon frequently change based on criteria such as competition and the ownership of the Buy Box.
Pricing competitively day in day out can be simplified if you utilize an Amazon Repricer. Ideally, you should consider the fulfillment type, seller feedback, and feedback score when deciding on your pricing strategy and how you wish to compete.
For every Amazon listing, there will often be many sellers competing for the same sales. Sellers whose products aren’t priced competitively are unlikely to win the Buy Box or get the sale. However, with the multitude of products and of course, the many sellers out there, the process of checking prices manually can become incredibly time-consuming and tedious.
How does BQool Repricer work?
BQool repricer’s built-in AI with machine learning can learn from repricing activities and the data collected from Amazon to further optimize a seller’s listing price for more profits. The major benefit of this is AI repricer can fine tune and come up with new algorithm based on the sales results and input them into a training model to develop a more capable algorithm. The more information the AI knows, the more accurate prediction for the price to win the buy box will become.
Besides BQool AI repricer with machine learning, BQool also has algorithmic repricer that is defined by a user’s pre-determined rules to compete against other competitor’s offers for the highly desired Amazon Buy Box.
Now, let us elaborate more on how you can make more money with BQool repricer with its many functionalities. There are the two major repricing modes you can use for monitoring your competitors and reprice against them to get the buy box on Amazon.
BQool AI Repricer Mode
It is always very hard to think rationally and make objective decisions when it comes to pricing your products competitively on Amazon. This especially rings true when you are under pressure or stress from managing your Amazon store due to the intense competition on Amazon marketplace along with unpredictable platform policy changes. Often, you might be influenced by your emotions when you need to reset a price for a product that isn’t being sold. Using a Repricer removes the emotions from the equation and will protect you from making potentially damaging decisions.
BQool AI Amazon Repricer is an intelligent tool that can monitor and learn from your competitors and personalize a winning strategy for you to get the Buy Box. The first benefit of using an AI-Power Repricer is it can maximize your sales. When you use the AI Repricer, you can increase your chances to get the buy box by repricing aggressively and AI Repricer can adapt to respond to unexpected price changes quickly and efficiently.
You have 5 AI algorithms with varying degree of pricing philosophy. Some reprice aggressively, some reprice conservatively, and they all focus on different criteria. Because each AI algorithm behaves differently, you can determine which one you want to use based on your goals or the level of the competition: intense, moderate, and low competition. Whether you want to accelerate your sales, or you need to liquidate, or even maximize your profit, the AI Repricer will know what to do and meet the objective set by you.
BQool Conditional Repricer Mode
Sitting in front of a computer to monitor price changes 24/7 is not viable if you are a normal human being. Using BQool AI Repricer is a good way to automatically optimize and adjust your selling price based on the market demand as well as competition intensity amidst the endless price fluctuation on the dynamic marketplace Amazon hosts.
But what if you wish to reprice based on other metrics such as your inventory level, profitability, sell through rate, units sold or more, could BQool achieve this? Yes, BQool can, and this is where BQool conditional repricer comes in.
With Conditional Repricer, BQool can not only reprice based on numerous conditions that you set, it also can automatically switch between different repricing strategies that you assign to a listing based on the triggered conditions like stock number, sales amount, buy box win %, price history and much more. There are almost infinite combinations of different conditions to tailor the repricing strategy that suits your business the best.
For example, alternate between sales driven AI rule to profit driven AI rule based on units sold or jump from algorithmic rules-based strategy to a AI repricing rule based on buy box win % are all viable with BQool conditional repricing feature. The Sky is the limit!
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BQool prides itself on the flexibility its repricing solution can provide to Amazon sellers. You can customize your repricing strategy right down to every setting based on the goals you want to achieve. Be it the Buy Box win %, the sales target, inventory level, or whichever objective you prioritize on.
Because of this, the technology behind BQool repricer is extremely robust to allow Amazon sellers to set up the best repricing strategy to tackle all challenges imposed by their competition.
So, what are you waiting for? Drive up your sales, claim what’s yours and win back your buy box!
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BQool Inc is a SaaS company which was founded on the idea that Amazon sellers should always have access to the most innovative software solutions available. BQool is committed to simplifying the day-to-day tasks that all Amazon sellers face, whether that be dynamic repricing, competitor research, feedback and reviews management or discovering the most profitable products to sell. With advisors around the globe, you can rest assured that any questions will be answered efficiently by BQool’s team of experienced representatives.
For more information about BQool, visit www.bqool.com.