Imagine you could see exactly how your competitors were pricing their products. They say there is no magic concoction to winning the Buy Box, but who needs magic when you are equipped with the ultimate spy kit that goes beyond Amazon repricing?
Leverage real-time data to outsell your competition. With intelligence, your chance of perfect Buy Box placement is sharpened. By perfect, I mean always selling at a profit when you have your minimum prices set to factor in your cost of sales. Online sellers are not here to win the Buy Box at any cost, we are here to make more profitable sales.
Never reprice in the dark again. Guesswork is dangerous in any business. XSellco Price Manager has equipped online sellers with the intelligence needed to target competitors in real time.
Price like a ninja
Target your Top 10 competitors
Amazon repricing can cause a lot of confusion. If you don’t know the trends and behaviours of your competitors’ pricing strategies, you are repricing blindly. This can be very detrimental to your profit margin. Let’s remove the blurred lines of this seller problem and investigate how we can bring light to the tricky task of targeting your rivals.
‘Competitor Insights’ show online sellers their Top 10 most aggressive competitors, and quickly tailor rules to beat them to the Buy Box. You can win more often by actively targeting your rivals. Perhaps I made that sound easy, well in fact it is.
If you have one particular rival who frequently beats you to the Buy Box, you can create your own unique flexible rules to directly target this competitor. Strike back at your competitors with your own unique rules on pricing, FBA settings, stock levels, stock age, shipping and much more.
Here you can see the flexibility you have to craft smarter competitor rules with XSellco’s Amazon repricer.
Price smarter than the competition
Target competitors at the busiest shopping times
Schedule your rules to compete with your competitors at different times of the day, where sale times are known to be quiet, or busy. You can schedule a rule to increase your sale price when a competitor is likely to run low on stock. When your price changes, the Buy Box rotation will be triggered – this means the Buy Box will be shared among the qualifying sellers. If a competitor’s stock is low, Amazon won’t award them the Buy Box.
Target your competitors based on your strengths
It is important for sellers to research and understand their competition, so they can target more effectively. Some ways to target your competitors are:
Amazon favours Fulfillment by Amazon (FBA) sellers and are more likely to be awarded the Buy Box than a Fulfilled by Merchant (FBM) seller. If you are competing on a product that is FBA, you can price higher than competitors who are FBM on that product. If you and your competitors are FBA, you will need to consider your other strengths.
The higher the feedback rating the better. You can price higher than the competition when your feedback rating is high. If your feedback score is lower than your competitor, it would be recommended to set a competitor rule to price below the higher performing competitor. It is worth analyzing your top 10 competitors to see how your seller metrics balance in order to give you the edge against the competition.
- Seller rating
Seller ratings consider many aspects of your performance from customer support, to feedback and fulfillment. Ensure that you are fulfilling all of your customer needs in order to keep this percentage high. With a high seller rating, you can price your competing products higher than the competition.
- On domestic v international shipping
Customers prefer cheap (if not free), fast and trustworthy shipping. If you are a domestic seller targeting domestic buyers, you can price your competing product higher than an international competitor. Buyers are more likely to purchase from a local seller for convenience, speed and confidence in the safe arrival of the product. If you are an international seller competing with a domestic seller, you will need to price below your competitor for a higher chance of winning the Buy Box.
- Stock levels
When you know the trends for popular shopping times and can see when your competitors are likely to run out of stock, you can price your competing product higher than your competitor. Amazon will not award the Buy Box to a seller who is low on stock. In this case, you can make more profit on your product when your competitor has been removed from the equation.
Watch your competitor’s every Amazon repricing move
Never miss a beat with real-time tracking of your competitors, that is unique to the XSellco Amazon repricer.
The ‘Tracking’ feature answers these important seller questions on every SKU.[ap_list list_type=”ap-list2″] [ap_li]Who is currently winning the Buy Box and how many times have they won?[/ap_li] [ap_li]What is my pricing history on each product and at what price have I won the Buy Box?[/ap_li] [ap_li]Where in the world can I sell my products for a higher profit?[/ap_li] [ap_li]When should I schedule my price changes for the ultimate profit?[/ap_li] [ap_li]Why am I losing the Buy Box to another competitor?[/ap_li] [ap_li]How many sellers are competing on my product?[/ap_li] [/ap_list]
With ‘Tracking’, confusion becomes clarity. Using the knowledge presented before you, you can get the full picture, act upon the insights, and adjust your pricing strategy to beat your competition. When analysing the data, always think profit, not just sales.
Identify trends in your price changes and see how your competitors have reacted to your moves. When you notice the trends, you can predict what happens next and beat them with your intelligence. Increase sales on your most competitive SKUs and know when to price upwards, especially when your competitors are about to run out of stock. Swoop in and increase your price, and your profit, in real time. You can prepare these competitor rules so that they ambush your sellers even while you get some valuable shut-eye.
XSellco Price Manager calculates your percentage of Buy Box wins in comparison to your competitors to help you improve your sales performance and increase profit. The Amazon repricer has an expansive view of your marketplace competitors but it has a determined vision to get you more profit in the quest for the Buy Box.
Make informed decisions with insights
Data is the key to evolving your business and growing it to the next level. Analyze your sales performance, and use the insights you find from Price Manager’s reports to refine your Amazon repricing and sales strategy. Make informed decisions, by monitoring your sales, on what products are selling well and which ones are taking up valuable stock room space. Storage doesn’t come cheap, so with these insights, you can make the smart decision to re-stock profitable products. Determine changing sales trends for your products – you may discover that a product could be sold for a higher profit.
The reports will alert you to any SKUs that are in danger of running out of stock, based on the past seven days of sales. Be ready to re-stock to the levels you require, including your FBA listings. By analyzing your sales velocity and historical performance by SKU, you can measure what your next steps should be to grow your business.
Grow your sales by 145%
Remove the guesswork from running your business. Lift your company to the next level with increased profits and intelligent insights that go beyond what you know about Amazon repricing.
Another plus is that, unlike many repricers, Price Manager does not take a percentage of your profits. XSellco Price Manager has all the features of a luxury repricer at a competitive price.
Contributor[ap_team image=”http://modernretail.co.uk/wp-content/uploads/2016/11/xsellco_LisaByrne-300-res.jpg” name=” Lisa Byrne, eCommerce Specialist at XSellco” designation=””] Lisa Byrne is an online retail entrepreneur with an eye for identifying consumer trends. She shares her latest experiences and eCommerce insights with online sellers to help nurture their customers and propel their business.