Sellers are sharp. So, chances are you already know that the main repricer benefits are saving sellers time and making them more money.
But price intelligence goes far deeper than that. Here are a few more repricer benefits that make the choice to use pricing intelligence even easier.
1. A repricer takes the emotion out of pricing
Where there’s competition, emotion is lurking. You know, the anger you feel when one jerk of a seller undercuts your prices, stealing your sales and patience in one deft move.
If you’re pricing manually on Amazon, where you have to constantly monitor competitors to see their prices, you may reach a point where emotions get the better of you.
For instance, you may start trying to take sales from certain sellers by setting your prices much lower than theirs. Emotions may cloud your judgment to the point where you’re basing pricing decisions on beating these competitors by any means necessary rather than on making profits with every sale.
That’s why one of the most vital repricer benefits is that they remove emotions from pricing.
Pricing based on emotions is a dangerous game. Repricers are the voice of reason that keeps your rashness in check.
You can configure how your repricer behaves using rules related to fulfillment method, seller rating, shipping time and handling days, and other metrics to devise a set of competitors that are actually worth competing against on price.
Or, you use built-in intelligent algorithms that are programmed with complex logic to make smarter pricing decisions for you.
With a repricer doing this work for you, you won’t have to worry about making irrational decisions in the heat of the moment when certain sellers get under your skin.
Instead, your decisions will always be made based on pre-set rules or advanced algorithms, ensuring that logic trumps emotion and profits are your first priority.
2. Repricers are faster and more efficient than humans
No matter how much you love math, there’s a very small chance that you’re a better number-cruncher than computer algorithms. Whether or not you enjoy the tedium of pricing manually with the help of a calculator and spreadsheet doesn’t matter; your bottom line will be better if you outsource the work to a repricer.
Repricers can either be rule-based, algorithmic, or a combination of both, and either method of repricing is better than the old-school, do-it-yourself way.
Lower-end repricers update your prices once every hour while our repricer is capable of making price changes less than 10 minutes apart.
Imagine how much time you’d lose trying to do that yourself.
Then, imagine how much money you’d spend on hiring someone to do that manually. Even if the results were good, you’d be spending a ton either on time or paid labor.
Now consider using a repricer. For a reasonable monthly fee, you can have the entire process of adjusting your prices automated with rules you control and algorithms that were built using advanced logic.
These strategies have been tested and vetted to help you win the Buy Box at a price that maximizes your profits, helping you not just make more sales, but make smarter sales with optimized margins.
Sure, there’s a chance that a human could pull off the same pricing wizardry. But, the margin of error and investment in time and/or money would be far greater without a repricer.
3. A repricer helps you scale your business and realize your life goals by shifting opportunity cost in your favor.
If you’re like most humans, you’ve got goals of doing something bigger than just making boatloads of money. And even if your dream is to earn more money than you know what to do with, a repricer will help you achieve it faster than you could ever do on your own.
The beauty of repricers is that they amplify your ability to make money by shifting opportunity cost in your favor. Think about all the time you spend spying on your competitors. Like a robotic data-entry slave, you watch their prices for changes and then updates your prices in response. Over and over again.
One of the main repricer benefits is that they eliminate that tedious, time-consuming process. You can then convert that time into all kinds of other ways to build your business.
New facets of your business can then become more fuel to skyrocket your success. You could add a human element to your business by crafting hand-written thank-you cards to your customers. Or, put more time into product research to become a sourcing guru.
You can also use your newfound free time to take a much-needed vacation to clear your head. Maybe you’ll think of some new ideas for making your Amazon listings better when you finally allow yourself a break.
Whatever your big dreams are, a repricer will free up your time to run a more efficient, profitable business. That means you’ll get to your financial “happy place” faster.
And isn’t that what life is all about?