Every Amazon seller fears a slow day. Whether you’re someone that checks your sales once an hour, or a handful of times per day, you’re always going to have a certain expectation of how your sales should be for that point in the day. Those times when you refresh your AmazonSeller app and see little-to-no sales, you’re going to feel it in your stomach.
Sometimes there’s an obvious reason for the slowdown; you might have sold out of one of your best sellers or you might not have sent in as much stock as usual lately. If those aren’t valid reasons, there’s something wrong with the stock you do have in stock.; you’ve either bought slow sellers or you’re not getting in the Buy Box.
(Note: I use Bqool for all of my Amazon repricing needs. The same should apply if you use an alternatives too).
These are the most important repricing practices I use to make sure my stock doesn’t stay in the Amazon fulfilment centres for any longer than it needs to.
1. Tweak Repricing Ranges Often
Repricing is an automated process that adjusts the price of your products according to the prices of your competitors. It works on a range, based on minimums and maximums that you input into your repricer of choice.
While you’ll save a lot of time by sticking a nice max price on there and an ultra-low minimum price, that takes all of your control away. A competitor can slowly pull the price down and have you lose all of your profit, if you don’t use a relatively high minimum price. Because my mins might be high, I need to tweak the ones that hit their minimums a couple of times per week.
By reducing the pricing range, I’m able to ensure that I still have control over them. Tweaking them often means I’ve got a lot more knowledge about how well my stock sells and how much competitors try to drop the price for a quick sale on some ASINs.
2. Get Rid of Excess Inventory
I don’t play around with excess inventory. It’s a silent killer that makes your monthly storage fees creep up, poking holes in the amount you’re expecting to receive in your upcoming disbursement. When I know something isn’t as good a seller as I expected it to, I change my repricing strategy from trying to stay within Buy Box eligibility to actively force the Buy Box to a lower price that will sell quickly.
There are exceptions to the rule, but for the most part, I want to see the money I invested in stock coming back to me as soon as possible. If it’s got to the stage where Amazon has classified it as ‘excess’ I keep tweaking to make sure it’s gone by the time the next long-term seller fees kick in.
3. Daily Buy Box Checks
Something that significantly changed the way I price my goods is by ensuring that every ASIN I sell has an active Buy Box. The ones without don’t rank as well when people search for them, making it harder to attract visitors, never mind people that are likely to ultimately buy them. 80% of sales go through the Buy Box, after all.
I have a filter set up that directs me straight to all of the ASINs that don’t currently have a Buy Box, or have their Buy Box occupied by a Merchant-fulfilling seller. This way I know when my minimum price is too high for the Buy Box to even trigger. You’d be surprised how often Amazon randomly decides that your product is priced too highly to deserve the Buy Box, even if it has for several weeks. When a Merchant-fulfilling seller has the Buy Box, I may want to reduce my minimum price further, but it’s more likely that I’ll just have to check that they’re low in stock and that it won’t be long before the Buy Box returns to me.