Amazon reported that merchants selling on its marketplace accounted for 45% of units sold in the second quarter of 2015, up from 41% the year before. With millions of sellers selling billions of products in a commerce site like Amazon, sellers benefit from adjusting their pricing so they’re both competitive and can still maintain profits. Repricing is the strategy of utilizing price to achieve increased sales.
What is Automated Repricing?
As with many systems, though, it’s difficult to collect the data necessary across a mountain of products and then increase or decrease the prices according to fluctuations amongst your competitors. Automated repricing tools have emerged as a great investment for sellers to set their rules and allow the system to modify pricing as needed.
RepricerExpress is one of those tools, and they’ve laid out how Amazon Repricing Works and How Long It Takes.
- Repricing begins when one of the top 20 sellers for an exact item changes their active price, handling time, shipping price, and offer.
- Amazon sends a message to RepricerExpress with price, dispatch and seller information for the top 20 sellers.
- RepricerExpress analyzes the top 20 seller information and runs your repricing against them, calculating your new price.
- RepricerExpress performs checks on the new price to ensure it’s within your minimum (floor) and maximum (ceiling) value.
- Once verified, RepricerExpress uploads the new price to Amazon for processing.
- Amazon’s Pricing Error System checks the new price against your Amazon Seller Central account minimum and maximum prices.
- Once your price is verified, it is listed as your current price. This repricing all happens continuously in a 24 hour period, 7 days a week.