London United Kingdom
World First
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Joined: Mar 11, 2014
26 Nov 2014

[Last edited: 8 Jun 2016]
Luke Trayfoot
0207 801 3022
Dublin, London, Frankfurt, NYC Ireland
Kudos: 62
Joined: Nov 3, 2013
Re: Repricing strategy = enticing customers
26 Nov 2014
Great article Luke!

I think one of the most important points you touch on there is the importance of knowing your costs! The last thing you want to do is eliminate any margin. It is very easy to undercut your competitors and start selling loads of products at a cheap price, which gives the illusion of a good business, but if you're only making a few cent on each sale because you're selling cheap to beat the competition, then it's not an ideal situation. It is therefore important to make sure you are looking at repricing software that can take into account all your costs, and make sure your margins are safe. (Full disclosure, the XSellco Repricer does this, and lets you reprice based on net margin).

Not only does knowing your costs help you make bigger profits, but once your repricing software starts working for you and gathering data, you are then able to start seeing which products are selling at the highest profits, so you can either start to focus your energy on these profitable sales, or you can work to find out how you can improve on your least profitable products.

With XSellco you can cut your contact response time in half & manage your pricing so that you win the Buy Box more often.
Derry United Kingdom
Kudos: 150
Joined: Jul 24, 2013
Re: Repricing strategy = enticing customers
26 Nov 2014
Hi Luke

Great post. Most Amazon sellers don’t realise that they already have half of the work done for repricing—they have their products listed and selling on Amazon as well as a tangible sales history. That’s a great platform from which to get repricing up and running and it’s a case of using a solution that will allow you to ‘try before you buy’.

Unfortunately many sellers believe they don’t have the time or IT knowledge to fully exploit repricing effectively, but as the famous ice hockey legend Wayne Gretzky once said, “You miss one hundred percent of the shots you don’t take”.

A repricing solution is only effective if you can get it up and running quickly and actually start using it—obviously we believe our solution, RepricerExpress, is particularly focused on this.

We would encourage any Amazon seller to trial a few repricing solutions (not at the same time though!!) and demystify the whole subject for themselves. When they realise how much it can help their sales and profits, they will then be able to decide what solution is best suited to their business.
Win the Buy Box more often with RepricerExpress Amazon Repricing Software.
United States United States
Kudos: 60
Joined: Dec 31, 2014
Re: Repricing strategy = enticing customers
1 Jan 2015
@RepricerExpress I suggest all people do some google searches on their repricing companies to see what customers have to say about them before they jump in.
UK United Kingdom
Kudos: 484
Joined: Jun 24, 2014
Re: Repricing strategy = enticing customers
1 Jan 2015
@robertw477 Agree with you.Web retailer supplier testimonial is handy.

However, personally I look for suppliers current customer and ring them to check how the services have been.
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