Repricing Series 1/3 - Bossing the Amazon Buy Box
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Transcript of Repricing Series 1/3 - Bossing the Amazon Buy Box
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✓ What Amazon repricing is and how it works
✓ Repricing and Amazon Buy Box Myths
✓ What factors can help you to win the Buy Box
✓ Things to consider when choosing a repricer
Learning Points
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What is repricing?
RepricingRepricing is when the price of a product automatically adjusts in reaction to a change in the status of a competitor’s product - most commonly in response to a change in price or stock level.
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Why use a repricer?
Common scenarios include:
✓ A rise in competition is hurting your sales
✓ Inventory has grown too large to manage pricing
manually
✓ You want to free up more time to focus on growing
your business
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Amazon’s Competitive Climate
Of Amazon sales come from repeat customers
Two thirds Amazon merchants must sell under one advert / listing, rather than their own page5,535,000 unique
visitors daily
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Repricing Myths
X Repricing is just a race to the bottom
X I wouldn’t be in control of my prices
X Repricers can lower prices to a penny
X It could make me sell at a loss
X Repricers are too expensive for small sellers
X My inventory is too small to warrant a repricer
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Why is repricing important?
✓ Keeps your products competitively priced
✓ Competitive prices result in more sales
✓ Saves countless hours repricing manually
✓ Reprices according to your specific preferences
✓ Increases your likelihood of winning the Buy Box
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How repricing works
A competitor changes their
price on Amazon Amazon
notifies XSellco of the change
XSellco calculates the
new price
Background safety checks
are performed
XSellco notifies Amazon of the price change
Amazon’s Pricing Error
System checks the new price
New price is updated on
Amazon
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Why is instant repricing so important?
✓ Amazon is an extremely dynamic marketplace
✓ Merchants are very quick to respond to market changes
✓ Price too high – you’re less likely to win the Buy Box and miss out on
sales
✓ Price too low – you’re selling at a lower price than necessary and
giving up margin
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The Buy Box
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What is the Buy Box?
Buy Box winner!
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Why is it so important?
The percentage of mobile sales on
Amazon, Christmas 2015
60%The approximate percentage of all non-media sales which are made through the buy box on Amazon
82%
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Buy Box Myths
X Amazon always wins the Buy Box on their products
X Being the cheapest will win you the Buy Box
X The 2% rotation myth
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Known Contributing Factors
✓ Pricing (landed price)Product cost + standard postage
✓ Availability Keep stock available Update your inventory
✓ FulfilmentFBA / FBM / PrimeOffer multiple shipping options, on time shipping & delivery
✓ Customer ServiceOrder defect rateDelivery experienceTime and experience on the Amazon platform“Other performance metrics”
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Quick tips for high metrics!
✓ Reply to all queries straight away
✓ Dispatch all items immediately
✓ Keep inventory up to date to
prevent seller cancellations
✓ Minimises ODR
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Things to consider
✓ Real-time repricing - instant price changes
✓ Price: flat rate, commission or % of revenue
✓ Rules or algorithmic
✓ Flexibility of rules
✓ Unlimited Amazon channel additions
✓ Generous / no SKU limits
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XSellco Price Manager
✓ 5000 SKUs
✓ Hourly Repricing
✓ Unlimited SKUs
✓ Instant Repricing
✓ Buy Box Predictor
✓ Unlimited SKUs
✓ Instant Repricing
✓ Buy Box Predictor
✓ Net Margin Repricing
✓ Profitability Analytics
✓ Scheduler
✓ Replicator
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