Repricing Strategy. If you’re an Amazon.com seller, the #1 critical success factor for your online business is keeping your inventory priced right; too high and your inventory stagnates, too low and you’re losing money.
Can your repricing system go both ways? Your system should automatically increase prices when your competitors are selling for higher prices than you. Many repricing options trigger price reductions when competitors have lower prices, but fail to increase your prices when you have the luxury of doing so. This is an important feature that allows you to be more profitable, while still driving sales increases.
Does your repricing system require that you reprice on all marketplaces simultaneously? An excellent repricing system will allow you the flexibility of repricing according to marketplace competition.
Does your repricing system allow you to set a baseline price on a particular marketplace and broadcast that price to specified marketplaces? For example, if you set a price on Amazon, does your system allow you to automatically set that as your price on eBay and New Egg? This will allow you to reduce administrative effort in changing prices and allow you to present a consistent, professional profile to your customers.
Does your system allow you to set prices based on a required margin? For example, can you set prices as never below our cost plus 10%? While any pricing strategy can be overruled by authorized personnel, this feature will ensure that your automated repricing system will never have you selling at a loss.
There are many other aspects of a repricing system that will be critical to allowing you to capture sales without giving away the store. An excellent systems provider will help you navigate that path.