Although there are clear benefits to businesses using repricing software in order to help maximise their Amazon sales, there are situations where companies can manipulate these tools to their advantage. One situation that can often occur is where businesses who have no stock of an item will deliberately set their listing at a massively inflated rate to help drive up their competitors’ prices until they can get hold of more stock. For example, they may set the price for an item up at £1000 that is usually priced between £50 and £70. Any businesses using Amazon repricing tools on this item would then see their product price increase to this ridiculous value and by the time they have realised this issue, there is a good chance sales may have been lost.
Therefore although there are clear benefits to Amazon traders using these repricing tools, with each company offering different functionality businesses should give serious consideration as to which one they choose to use. This is because without the right controls in place to prevent prices being inflated on Amazon Listings, businesses can find that using a repricing tool can actually lead to profitability being sacrificed unnecessarily on a regular basis. Therefore in order to carefully protect product margins and also capitalise on all sales opportunities, businesses selling on Amazon should look to repricing tools that offer the right balance between automated price management and profitability control.
Keep Your Prices Profitable & Competitive With OrderWise
Providing this perfect balance is OrderWise Amazon Competitive Pricing that enables users to effectively manage their automated product repricing. Available as part of our Amazon Listings functionality, OrderWise users are able to easily state how much cheaper than their competitors they wish to be as well as their minimum selling price, with the option also to choose whether shipping costs are taken into account too. You can read more about our Amazon integration and Listings tool HERE.
Now adding a new enhancement to our Amazon Competitive Pricing tool in version 11.6 of OrderWise, as well as stating a minimum price businesses can now also set a maximum listing price for their items on Amazon. This enables users to effectively counteract price raising tactics as they have the facility to set a maximum listing price against their items or alternatively, use a variant’s RSP to the determine the listing’s maximum price. With a maximum price set, OrderWise users can ensure that if the calculated price from the Amazon Competitive Pricing tool ends up being higher, the stated maximum price will be used on Amazon instead of the usual calculated price.
Thanks to this great new enhancement, businesses using OrderWise Amazon Listings are able to achieve greater control over their sales profitability when trading through this marketplace. By setting minimum and maximum listing values to ensure that the price on Amazon is always within these boundaries, OrderWise users can utilise repricing with confidence to help them get into the Buy Box and stay ahead of their competitors.
For more information on OrderWise Product Creation and Amazon Listings, existing users can contact the client services team.
To discuss your requirements in more detail contact us on 01522 704083.