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Why the Different Rules?

I’ve gone through a few different phases of Amazon online arbitrage selling, before I settled on a format which is the most efficient for my needs. I’ve discussed some repricing practices that I use to keep my products selling before, but now I’ll go into more depth about the actual rules I use to keep the sales coming.

When I say that I’ve gone through different phases, I mean in terms of the type of things I buy, the type of sourcing I do, and the difficulty level of trying to earn sales. There was once a time when a high proportion of my inventory would take a while to sell, but had very high ROI. I’m much more inclined to stock up on lower ROI products that will turnover quicker. As a result, it’s meant that I’ve had to adjust my repricing rules accordingly.

Now I really only use three repricing rules, of which I only really use two of them. This may change in the future, but it’s working based on my current situation. Please excuse the names.

1. Sell, Sell, Sell

This is my action rule. This is for the vast majority of what I sell, and is designed to stick within the Buy Box eligibility at all costs. I tend to keep my minimum and maximum prices quite tight with a lot of these prices, and periodically check to see whether the price has dipped below the minimum. If I kept the minimum very low with these products, the competitive ones would drastically drop in price to the point I make no money on them.

It took a while to get this rule working in exactly the way I wanted to, but it’s proven to be absolutely essential to my sales these days. The most important thing is to figure out exactly what percentage above the Buy Box you can afford to go.

Key details:

  • Competing against Amazon, FBA, FBM
  • Staying within Buy Box eligibility range
  • Priced a particular percentage above the current Buy Box price

2. Hold Fire

This one is designed specifically for the high ROI products which sell in high volumes. Oftentimes there isn’t much competition and I don’t care much about the Buy Box. If this product is available, someone is going to try their hardest to buy it. They will pay more than they need to in order to own it, and they’re a lot more inclined to keep looking even when there isn’t a Buy Box on the listing.

Key details:

  • Competing with Amazon, FBA and FBM
  • Very tight minimum/maximum price
  • Lax rules, ensuring price stays close to maximum

3. Get Rid

These are for when I’ve really had enough of a product and it has to go. I will trigger one of these when the competition is ridiculous (excessive to the point I may end up losing money if I don’t sell quickly) or if the product is an extremely slow seller. I use this when I really just need to get out of that ASIN, get my money out and invest it in something with a lot more potential.

It’s designed to own the Buy Box. I will adjust the maximum price frequently, lowering it steadily, until the product sells. Once I’m done with it, it’s very unlikely that I’ll go back to the product in the future.

Key details:

  • Competing against FBA
  • Priced marginally above the lowest FBA price
  • When there’s no competition, use the max price (which will be very low)

What You Need to Do

Now it’s time for you to assess whether you’re getting what you need out of your repricer. Ensure that you’ve set the right products up with the most suitable rules, make sure you know how to identify when the Buy Box price drops below your minimum, and how to keep your products selling with minimum input from yourself.

If, for some reason, you have a sizable Amazon FBA inventory and haven’t opted to invest in a repricer, it’s time to change that. It’s so important that you free up that time and allow an automated tool take over for you. I use Bqool, but all of them come with fundamental rules that will make your products sell quicker from the day you sign up and set your minimum and maximum prices.

Chiino
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