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What are Amazon Repricers?

Work still needs to be done after your items hit the Amazon warehouses. Don't think that this is a completely passive income stream by any means. If you want those sales to happen, you need to stay on the ball. That means checking and tweaking the price to ensure that you either stay within Buy Box eligibility range, or that you maximise profits by sitting above the current most competitive price.

How many SKUs have you got though? 10? 100? 1000?

An Amazon repricer is an automation software that adjusts the price of your products according to market changes. They change the price of your inventory so you don't have to.

You set a minimum price, a maximum price and rules of how respond to certain variables. Once set, your work is complete.

 

Why Use an Amazon Repricer?

You can't be everywhere at all times. You're a busy individual and repricing is one of those admin tasks that some people enjoy, but some people can't stand. Repricers, more than anything, are a time saver.

Repricing your stock can be the deciding factor of whether or not your stock actually sells. Times when I used to feel that Amazon sales were slow, there was always a repricing issue somewhere. A competitor may have dropped the price of a product by a pound, making my price look ridiculous compared to the Buy Box.

Automated repricing means that you have time to source or work on business development, instead of focusing on making manual 2p price adjustments to several hundred items.

The more products you sell, the more important it is to get yourself a good repricer. Even with low competition products, others can always jump on the listings and make money while you're overpriced.

bqool-repricing-rule-probably-busy

 

What are the Drawbacks of Repricers?

Lots of factors impact upon how you price something on Amazon, namely:

  • Buy Box price
  • Profit margin
  • Historic price
  • Competitor inventory
  • Season
  • Scarcity of stock

Many of those things are precisely why repricers are flawed. They can only act upon a couple of the factors (at best), rather than the full picture. If your repricer has the functionality, customising the rules is the only way to get it as close to your ideal pricing strategy as possible.

The other drawback is that, because it's automated and other sellers know so, they can drive your price down. This may be to get you off the listing, or to buy stock off you, so they can price their stock even higher afterwards. As long as you have good minimum prices set, you can fight against this, but it's worth considering.

The fact repricers often get you into competitive Buy Box position quicker means the drawbacks are largely outweighed. Good ones change the price within five minutes. Fair ones will do it within an hour. Unless you have less than 50 SKUs and this is your full-time gig, you cannot do it any faster.

 

How Much Do Amazon Repricers Cost?

The monthly cost for an Amazon repricer usually depends upon the quantity of SKUs you stock.

For example, Bqool is my repricer of choice. Their services are for the UK and Amazon marketplaces, as well as the many others around the world. The Bqool pricing is as follows:

5,000 Listings
Monthly
$50
Best for high SKU inventories
15 minute repricing
5,000 listings
Price and profit calculator
Schedule repricing
Dashboard and reports
Download reports
Sign up now
7,500 Listings
Monthly
$75
Best for large inventories
15 minute repricing
7,500 listings
Price and profit calculator
Schedule repricing
Dashboard and reports
Download reports
Sign up now
10,000 Listings
Monthly
$100
Best aggressive-pricing sellers
5 minute repricing
10,000 listings
Price and profit calculator
Schedule repricing
Dashboard and reports
Download reports
Sign up now

Trial Bqool for 14 Days

BQool also offers a free 14-day trial, so is worth trying out, even if you decide it isn't for you.

Price wise, it's a similar situation with other popular options like RepricerExpress.

Resellers often have large inventories. If you're buying wholesale, from charity shops, on other retail sites or in supermarkets, you're not sticking to a handful of SKUs. New Amazon seller can quickly amass three figures worth of different products, making it difficult to manually check for optimal prices.

Private label repricers are a little different, as they use sales data to adjust prices. Even though they may have a lower quantity of SKUs, the balance between sales velocity and profitability means everything to them. The cost there is hefty (explaining why Feedvisor doesn't show their prices upfront) but obviously only for huge volume sellers.

But wait – there is a free option out there. Yes, free. Amazon offers its own repricing service for users. They allow you to set your own rules using your minimum and maximising prices, and will shut down your listing if it falls out of that price band. Personally, I would avoid theirs, as it's crazy that you could let one of your potential competitors take control of the pricing on your own product.

 

 

Key Things to Remember with Repricers

Penny-under repricing is for wrong'uns

Avoid. All it does is cause others to do the same, driving the price down.

 

Maximums are as important as minimums

Stray too high and you risk losing the Buy Box unknowingly. It may lead to greater profit when it eventually sells, but it may hurt your cash flow.

 

Go with the option that suits your business best

As well as SKU quantity and cost, consider the time it takes to respond to price changes and the effectiveness of its rules (based on reviews or word of mouth).

 

Having one saves you crazy amounts of time

Monitor how much time you spend repricing each week and consider what you could have done with that designated Amazon time. I'd say that's after 100 SKUs, you're probably ready to get a repricer. Until then, learn how to do things yourself and you will appreciate it much more.

 

When Should You Use a Repricer?

For those that want to use Amazon as the marketplace of choice for reselling physical probably, it's probably going to take a 3-6 months before you really know what you're doing. Understanding how competitors operate, how the Buy Box and how soon you can expect stock to turnover takes a while to grasp. Over the course of that time, you're likely to sell a fair range of SKUs. It's not uncommon to break the three-figure active inventory mark that soon. For me, that's when I found it unmanageable to adjust my own prices each day.

For those that work full-time, or have to work on other projects, a repricer ensures that you're still in the game. It's painful sitting there waiting for sales to creep in, only to find you've been outpriced by your competition. Tools like this ensure that you can even the odds to win the Buy Box more often and claim the sales you need to keep your business growing. Fix things with a solution like Bqool.

 

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