As a private label seller, your goal is to maximize the profit on your private label products. Pricing is the most crucial factor to impact your gross profit – and thus it requires your full attention. But how can you know for sure you’re not pricing your private label products too low?
You may be leaving money on the table that you’re not aware of. Or maybe you’re pricing too high and not generating as many sales as you could be. While private label is definitely the way to grow your business in today’s competitive online retail world, staying ahead of the competition is key to your success.
Feedvisor’s private label pricing solution has been specially designed for private label sellers – like you. Our automatic self-learning algorithms will help you maximize your profit margins for your private label products, ultimately accelerating your private label business growth.
Why you need algorithmic pricing for your private label products
- Optimum profits – You won’t have to guess your prices anymore. Algorithmic pricing eliminates the risk of you leaving money on the table by finding the exact price to ensure optimum profits for each of your private label products.
- Time-saving – You won’t have to manually set up your prices anymore. Managing the pricing for each of your products is extremely time-consuming, and can take up hours of your day. Until now, no pricing solution has existed for private label products. Our automated solution frees up your time so you can focus on replenishment, scouting and other vital activities necessary to accelerate your private label business growth.
- Control and stability – You have control over your inventory and the market.
In the unpredictable Amazon seller space – you have complete control over how fast or slow to sell your products – depending on your unique business circumstances.
How does algorithmic pricing work?
There’s no need to input any rules or identify any reference products. Our self-learning algorithms kick in as soon as you enter your ceiling price and floor price, and all the rest is automated.
You can either set a target out-of-stock date or tell us how many items you’d like to sell per day.
- Target out-of-stock date – Tell us your target out-of-stock date, and our algorithms will define the optimal price and sales pace that will ensure you sell out by that date.
Example: If you’re due to receive new stock from your manufacturer on the first of next month and need to get rid of your current stock by then, just let us know the exact date and we’ll ensure all your stock is cleared at the best possible price, before the new stock comes in.
- Target by velocity – Ensure you don’t sell out too fast or get stuck with slow-moving inventory. Tell us how many items you want to sell per day, and let our algorithms take care of the rest.
Example: Market demand has peaked and you’re selling more items than you’d planned for. At this rate, you’ll sell out in a week but your new stock is only arriving in two weeks’ time. Avoid losing your page rank by making sure you don’t sell out until you get in the new supply. Control the speed of your sales by telling us how many items you’d like to sell daily.
Additional Feedvisor Benefits
As part of the Feedvisor private label package, you’ll also receive:
- Our business intelligence suite – comprised of intuitive dashboards, in-depth reports and daily alerts to help you make accurate business decisions:
- The dashboard offers both a panoramic overview and deep-dive capabilities, providing you with a rich analysis of your costs, sales, stock rates and market position.
- Our reports highlight a rich set of data that you can slice and dice according to different parameters, in line with your business needs.
- The alerts highlight vital information, such as when specific items are no longer profitable, when your bestselling items are running out of stock, and when you should liquidate slow-moving inventory.
- A dedicated customer success manager who will guide you in growing your private label business. Our customer success team is made up of Amazon experts and finance specialists – so you can be confident you’re in the right hands.
See what Feedvisor can achieve for your Amazon private label business!