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The Top 4 Features to Look for in an Amazon Repricer in 2022
In an increasingly digital economy, competition for Amazon sellers only continues to become fiercer. In order to consistently beat the competition and secure the Buy Box, Amazon sellers need a reliable, market-leading repricer.
But contrary to the popular assumption in the industry, not all Amazon repricing solutions are created equally. In order to make the most of your repricing investment and see an increased profit and business growth, make sure you choose an Amazon repricing solution with the four following features and capabilities.
1. Algorithm Powered, Rather Than Rule-Based Repricer
If you take one piece of advice away from this article, let it be this: businesses serious about standing out on Amazon need a repricer powered by leading AI technology. And finding a truly algorithmic repricer can take some discernment on the seller’s part.
A number of repricing tools claim to have dynamic or algorithmic capabilities even though the technology is rules-based. Rules-based Amazon repricers require sellers to set inflexible rules for maximum and minimum pricing, while AI-driven algorithmic repricers automatically adjust your product prices in real-time to keep up with changing market conditions and competitors.
Be careful not to accidentally choose an Amazon repricer that is said to be algorithmic, but is in reality a group of these rigid rules bundled together.
2. Dynamic and Adaptable Repricing Solution
Adopting an Amazon repricing solution should not leave sellers overwhelmed by a demanding amount of technical overhead.
Algorithmic repricers should automatically adjust to meet current market conditions and show sellers exactly where they rank in the overall competitive landscape. For example, as soon as another seller enters the competition, your repricer should know whether you need to adjust your prices in order to maintain and increase profits and Buy Box wins.
This dynamic ability to adapt in real-time relieves sellers of the need to consistently adjust rules and offers peace of mind knowing that your repricer is working hard around the clock for you.
3. Amazon Repricing Options Based on Your Business Goals
There are multiple roads to successful repricing, and rule-based repricers limit sellers to only adjusting floor and ceiling prices. This method may prove successful for small businesses for a limited time, but sellers looking to scale and see large business growth need multiple nuanced options to proactively increase profits.
Algorithmic repricers uniquely process and analyze data to increase profit margins and optimize overall sales rank without just lowering your price to beat the competition and thus getting you stuck in a losing price war.
With an Amazon repricer such as Feedvisor’s, you can choose exactly which business goal or metric to hit. Whether it is overall profit growth, inventory depletion, or more, Feedvisor’s algorithm works to address your store’s specific needs.
4. Machine-Learning Repricer
A top AI-powered repricing solution utilizes machine learning, so not only does it automatically calculate the strongest routes to improve your business profitability – it learns from its successes and improves itself over time.
Feedvisor’s repricing AI, for example, learns from every piece of data it intakes about sellers’ products, competition, and prices to continuously increase its repricing efficiency. It’s not just collecting data for analytics and metric tracking, but using it to always better understand your store’s needs and how to best maximize your growth.
When choosing a repricer for your Amazon store, keep in mind that while rule-based options will help with initial growth, they soon stagnate. By choosing an AI-powered Amazon repricer such as Feedvisor’s, you’re ensuring long-term profit growth from a trusted, industry-leading solution.