Software News tagged "Marketplace Product Repricing"
Multichannel ecommerce solution ChannelAdvisor Marketplaces now supports rule-based automatic repricing for eBay sellers.
The eBay repricing feature is similar to that offered by ChannelAdvisor for Amazon. Sellers also can specify one or more listings IDs to reprice against to stay competitively priced against similar products.
Other improvements in the latest update include:
- A new widget showing active product returns by current status
- Support for Amazon Sponsored Products for sellers on Amazon Canada, India, and Mexico
- Enhanced inline and bulk editing using business rules
Amazon dynamic pricing tool Sellery has added a new feature that allows repricing across different ASINs.
Sellery users can select any item from their inventory then view similar listings from the Competition tab. After choosing items that match the listing, Sellery will reference them as competitors when repricing that inventory item based on the configured pricing strategies.
Sellery offers a two week free trial including support and implementation assistance.
Game theory repricer SELLER SNAP has been profiled on the Web Retailer blog.
The article explains what game theory repricing is, and how Seller Snap applies it to the problem of Amazon marketplace repricing.
By figuring out your competitor's strategy, and repricing your products with that in mind, Seller Snap makes repricing a strategic game with the goal of finding an equilibrium, and not a race to the bottom.
Source: Web Retailer Blog
Marketplace repricing tool Appeagle can now estimate Amazon and eBay selling fees to provide accurate profit calculation.
The integration of marketplace fees has made it possible for Appeagle users to set profit-based min and max prices for Amazon and eBay listings.
Previously, Appeagle users had to manually input their min and max prices or use a formula builder to calculate them approximately.
Appeagle's profit column now shows estimated profit by including the cost of goods, marketplace fees, shipping fees and FBA fees.
Amazon fees are calculated using Amazon's GetMyFeesEstimate API call, while eBay fees are calculated at 10% of the final sale price.
Shipping costs are tied to SKU-level information pulled from Amazon and eBay. Users also have the ability to manually input costs or upload costs in bulk using templates and hosted file uploads.
Appeagle users can also take advantage of integrations with Skubana, SellerCloud and E-Com Solutions to import product costs.
Marketplace repricing tool RepricerExpress now provides a detailed price history, has enhanced repricing rules, and includes new automations to automatically change strategy.
RepricerExpress provides detailed history for products' prices, showing when prices changed, why, position, competitor's prices, Buy Box information and sales. This is in addition to information on competing sellers, Buy Box history, sales performance and other specifics about repricing rules and frequency.
Repricing rule enhancements help sellers be more competitive, allowing prices to be set above MFN competitors but lower than FBA, or choosing to price only against sellers who hold the Buy Box, competiting against New price if lower than Used and much more.
- Auto-detecting long-term storage fees due and moving to be more aggressive repricing rule to sell stock before Amazon charges its fees.
- Auto-detecting low stock on Buy Box winners and moving to a very high-profit strategy until more stock is available.
- Auto-detecting Price Wars and moving to a near Max repricing strategy to avoid throwing away all your profits.
- Auto-moving products to a more aggressive repricing strategy if there have been no sales for six months.
- Auto-detecting if products have moved from MFN to FBA and switching to a different pricing strategy.
Marketplace repricing tool Appeagle can now automatically reprice products for sale on Walmart.com.
Walmart's online sales grew by 29% last holiday season, yet the number of marketplace sellers is much lower than on Amazon.
Appeagle is one of only a few repricers currently available for the Walmart Marketplace, and has been chosen by Walmart as a Preferred Partner.
To celebrate the new integration, Appeagle are offering new customers who sign up before the end of June 20% off their first 3 months. More information.
Competitor price monitoring tool Competera has been relaunched with a new pricing platform consisting of three major modules.
Competitive Data helps sellers obtain up-to-date information about their competitors. Users can see complete and timely information about the market and competitors, with a guaranteed 95% data accuracy.
Price Management helps integrate prices, stock availability, and promo activity of competitors, by monitoring price decisions and prices. It helps retailers take a proactive approach to pricing.
Price Optimization helps predict profit, demand, and buyers' behavior resulting from a particular change. The foundation of this product is qualitative data, flexible and customizable processes, as well as machine learning technologies, statistics and big data operations.
Ecommerce management software Jazva now offers a built-in eBay repricer.
Jazva's eBay repricer enables sellers to automatically adjust the price of their products based on competitor pricing for the same product.
Users can take a query-based approach to repricing, which uses keywords to find the top 100 listings that best match the product, based on pricing and shipping charges. Alternatively, users can apply a listings-based strategy, which reprices only against specific listings. Jazva's repricer will analyze the selected listings, checking prices, availability and shipping charges, and reprice the seller's products accordingly.
Jazva will also gather the price history, sales history and marketplace analysis. The feature is currently in beta.
Amazon and eBay repricing tool RepricerExpress has released new features including enhanced Buy Box information, customization of "Price War" detection, more detailed product information and advanced filters.
Amazon sellers using RepricerExpress can now see detailed information about Buy Box performance from the dashboard, including which products are Buy Box winners, which are Buy Box eligible, and which recently lost the Buy Box. 30-day Buy Box percentages are also shown.
A new feature called "Product Status Preferences" allows sellers to define the parameters for flagging Price Wars, best sellers and low stock. Different parameters can be set for different marketplaces.
RepricerExpress also now shows much more detailed product information including pricing history, Buy Box performance, competing sellers and sales performance.
Finally, products can now be filtered according to sales, sales rank, category, Buy Box performance and more.
The company has new pricing strategy automations planned for release in the next few weeks, such as automatically moving to a more agressive repricing rule if long-term storage fees are due to take effect, or changing to higher pricing for products which are winning the Buy Box but have low stock.
Chris Dunne from RepricerExpress said, "We're constantly listening to our customers' feedback and the overriding request is for better data that can be automatically actioned to help sell more without constant checking of sales info etc. For example, by auto-detecting price wars, sellers will be able stop repricing down and avoid selling needlessly at low prices. Another common scenario will allow us to auto-detect stock that's due FBA long term storage fees and push to more aggressive rules, so that stock can be sold off before further fees are incurred."
The latest update for multi-channel management solution ChannelAdvisor Marketplaces includes algorithmic eBay repricing, new competition monitoring reports for Amazon, and the inclusion of Walmart and Jet.com sales data in benchmarking reports.
The new "Competitive Environment Dashboard" shows Amazon sellers who their competitors and where they could be losing market share, to help them make informed decisions about their Amazon business. The new dashboard is available for all Amazon marketplaces except China.
Walmart and Jet.com data has been added to ChannelAdvisor's Benchmarking Platform. ChannelAdvisor Benchmarking is an industry-first suite of customizable dashboards that provide insight into how a seller's performance compares to other retailers and brands, using data from transactions processed through ChannelAdvisor's platform.
Multichannel management solution ChannelAdvisor Marketplaces now offers automatic algorithmic repricing for the Walmart marketplace.
The new repricer joins ChannelAdvisor's algorithmic repricing tools for Amazon and Jet.com.
Sellers who are currently using ChannelAdvisor to sell on Walmart will now see fields to map on the Walmart Marketplace template to enable repricing.
Sellers who use both applications can easily link them, then Appeagle will automatically pull cost prices from Skubana and use them to calculate minimum and maximum prices for every listing.
Fees are taken into account, and the min and max price calculations can be further customized on a per-SKU basis.
Once linked, Skubana will continuously update cost prices so Appeagle can recalculate min and max prices.
Amazon feedback management tool BQool Feedback Central has extended its VAT invoicing feature to generate invoices in French, German, Italian, and Spanish in addition to English.
Buyers on Amazon FR, DE, IT, and ES will now receive VAT invoices in their native languages.
Sellers can also insert a company logo and details, as well as a customized message to buyers. Invoices can be issued automatically for every sale, or manually when requested.
Ecommerce management software Neteven has released a new repricing tool covering international Amazon sites, as well as La Redoute, Fnac and PriceMinister.
Other new features in Neteven's latest release include:
- A new look and user experience in the marketplace engine.
- A mapping console for merchants to adapt their product data to the fields and values required by each marketplace.
- Multi-warehouse management, compatible with FBA, Rakuten Super Logistics and any warehouse facility.
Neteven co-founder and CEO Greg Zemor said, "2016 has been an amazing year for Neteven. The team has done a great job to consolidate Neteven's position in our ecosystem. Our strategy to focus only on marketplace channels has paid off as global brands are launching their international Direct to Consumer ecommerce strategy in which marketplaces have a central position. Our positive financial outlook allows us to accelerate the international deployment to match market demands for cross-border trading.".
Following its 3.6 million euros investment in 2013, Neteven has accelerated its international strategy. Merchants outside France now account for more than 40% of the company's customers portfolio. Neteven users trade on more than 50 marketplaces in EU, US and China. Neteven has a partnership with Alibaba and has successfully launched several flagship stores on Tmall Global.
In 2017, additional regions will be covered by the Neteven solution in South East Asia, India and the Middle East.
Amazon, Rakuten and eBay repricing tool RepricerExpress is running a competition throughout October to win six months of free service.
To enter sellers just need to sign-up for a free 15-day trial using code 6MONTHSFREE, then will automatically be entered into the competition.
Existing customers can also enter by emailing RepricerExpress, and extra entries can be earned by sharing the competition on social media.
The competition closes at 14:00 UK time on Monday 31 October 2016, and the winner will be announced the next day.
The prize is worth up to £540 (based on 25,000 SKUs).
Multi-channel ecommerce tool SellerActive has updated the user interface for its repricing module.
Users can now view their pricing strategies in a more organized fashion, with each strategy reporting how well it is performing including Buy Box ownership percentage.
Setting up a new pricing strategy has been made easier with embedded tips and tricks for each step of the process, and a review of the full strategy as the last step.
Marketplace management solution ChannelAdvisor Marketplaces has released a new algorithmic Amazon repricing option.
ChannelAdvisor's algorithmic repricing model is designed to win the Buy Box at the highest possible price, by monitoring the Buy Box status and evaluating the competition to arrive at an optimal price. As the competitive landscape changes, your price will be raised and lowered to maximize revenue and profitability.
Other ChannelAdvisor updates include:
- Multi-ASIN Repricing so a product can be repriced against multiple ASINs beyond its own.
- Sponsored Products Automation for Amazon US and EU marketplaces, allowing ChannelAdvisor to automatically pause poor performing keywords in Sponsored Products Campaigns or Ad Groups.
- Support for listing on Amazon India.
Amazon repricing tool BQool Repricing Central has been updated with a new user interface and several new features.
The user interface has a new contemporary look, and several additional columns including a repricing rule power button, inventory quantity, estimated fees, estimated profits, and estimated profit %.
To ease the process of searching through inventory, BQool has added a number of new filters as well as new Favorite Filter settings. With a new Group function, users can now group or categorize listings to meet their specific needs.
Repricing Central now supports uploads of InventoryLab's Closed Batch Report file, to automatically populate inventory costs to individual listings.
The popular profit calculator has been enhanced to allow estimations by either profit percentage or amount, cost, or applicable fees. The calculator includes various FBA fees to help estimate the price for FBA items. For European marketplaces, the calculator can take VAT rates into account if needed.
Finally, Repricing Central now shows the repricing history for the past 24 hours, allowing users to get a clear picture of where they stand against their competition and adjust pricing strategies or rules accordingly.
Marketplace repricing tool Appeagle now works with the Amazon marketplace in Mexico.
The new feature is open to all Appeagle users without an additional fee.
Amazon Mexico was launched in June 2015, and is easily accessible to sellers on Amazon USA and Canada using a unified North America selling account. Amazon's FBA fulfillment service delivers to 99% of Mexico's zip codes.
Mexican online buyers are predicted to grow from 8.4 million in 2013 to 18 million in 2018, an increase of 114%.
Competitor price monitoring tool Competera has a new repricing feature allowing users to change prices from within the system.
The "Repricing Platform" can change prices according to business rules, market data and competitor analysis. Competera can transfer updated prices via API directly into supported storefronts.
Pricing rules can, for example, always keep prices lower than a specific competitor. After analyzing the market, Competera will recommend price changes or provide comments such as "Competitor's product not available. Raise the price." Competera's recommendations can be approved or declined by the user then sent to the storefront.
Marketplace repricing tool RepricerExpress now supports repricing on eBay marketplaces in the US and the UK.
Brendan Doherty, RepricerExpress CEO said, "We've listened to our customers and developed a state of the art eBay repricing solution that will work alongside their existing Amazon repricing, all within one RepricerExpress account. eBay repricing was the number one feature request for 2016 and we have developed a solution which we are confident will make repricing on eBay as efficient and hassle free as possible."
Current and new RepricerExpress customers will be able to add eBay repricing for free, as long as they stay under the maximum numbers of SKUs allowed on their pricing plan.
Unlike most repricing solutions, RepricerExpress allows eBay sellers to reprice both catalog and non-catalog products using sophisticated pricing rules, including the option to sync Amazon prices to eBay (plus or minus values and percentages if required).
The new eBay repricing rules can filter out competitors using inventory quantity, feedback rating, country, Top Rated Seller status and more.
Amazon and eBay repricer Appeagle can now adjust repricing rules based on competitors' handling days and product availability.
Handling days, which is expressed as a range, is the number of days it takes for a seller to ship an item after an order is placed on Amazon.
Appeagle's new handling days feature enables sellers to exclude competitors based on the number of handling days it takes them to ship an item. It is possible for sellers to win the Buy Box at a higher price than competitors who take longer to ship orders.
Appeagle can also now exclude competitors with backordered Items, which avoids repricing against sellers who are out of inventory but still listing an offer.
Amazon repricing tool XSellco Price Manager has a new feature which identifies a seller's top ten rivals for the Buy Box in each marketplace.
The new "Competitor Insights" feature also allows users to create repricing rules for competing against their top rivals.
"The new Competitor Insights feature is a real game changer for our customers," said Victor Corcoran, CEO of XSellco. "Having the ability to spy on your strongest competitors and see which of your SKUs are losing the Buy Box is momentous. Now you can focus your strategy, create specific rules and compete more aggressively. It takes away the guesswork and genuinely gives you a competitive edge."
Users can see which of their SKUs are losing the Buy Box to competitors, and quickly access the "Make Rule" feature to create rules specifically targeted against the competition.
Competitor Insights also shows which products are sharing the Buy Box and winning at the lowest price, as well as products that are being beaten to the lowest price by the competition
Competitor Insights is available to all XSellco Price Manager customers.
Amazon repricing tool XSellco Price Manager now includes a mobile product scanning app for iOS and Android.
The new app can be used to scan a product barcode, then view the Amazon Buy Box price and quickly work out the cost price needed to make a specific profit margin.
The app also shows the product's sales rank, and a slider to set the desired profit margin and calculate the cost price required to achieve that margin. An advanced menu enables Amazon fees, shipping costs and more to be added.
The scanner can quickly switch between multiple international Amazon marketplaces, and show the winning Buy Box on each channel.
Product Scanner is free for all Price Manager customers.
The latest release of multichannel management software ChannelAdvisor Marketplaces includes eBay and Amazon enhancements.
ChannelAdvisor's Amazon repricer has been updated to allow repricing strategies to be created and managed more easily, by selecting from commonly-used pricing strategies as templates for creating custom rules.
eBay processing time has been reduced by an average of 30%, meaning listings on the marketplace can be deactivated more quickly to help prevent overselling.
Amazon repricing company Feedvisor has released the latest version of their popular Buy Box Bible eBook.
The 2016 Buy Box Bible includes all the content of previous versions, including how the Buy Box works, every variable that determines Buy Box winners, how to work with the Buy Box to maximize sales and profits, and crucial differences between the regular Buy Box and the Mobile Buy Box.
It also adds the latest information on the Buy Box impact of Seller-Fulfilled Prime, pro hacks to win the Buy Box and new metrics introduced by Amazon. It can be downloaded here.
The Buy Box Bible is based on Feedvisor's extensive research into the Amazon marketplace, including hundreds of millions of price changes and sales, Buy Box wins and losses, and the performance and behavior of Amazon sellers of all sizes.
Amazon repricing software company Feedvisor has released a new solution for private label sellers.
The new repricing tool is the first of its kind for private label sellers, says Feedvisor. The solution uses machine-learning algorithms to model the demand for private label items based on hundreds of data-points, in order to identify the right price for the item according to the retailer's business goals.
Feedvisor CEO Victor Rosenman said, "We've witnessed an upward trend in private label selling in today's market, but most repricing solutions cannot address the unique challenges private label selling presents. With no competition for these items, many retailers struggle with pricing decisions, and guesswork is often their default baseline."
Private label sellers create unique products by adding their own branding to generic items. This means that there are normally no competing sellers offering exactly the same product on Amazon, but often many similar products with differing branding and sometimes minor design differences.
Feedvisor's new solution enables private label sellers to price their items without inputting any rules or identifying similar products. Instead, Feedvisor's algorithms calculate demand for the product based on historical sales and current market data, enabling accurate pricing that eliminates human bias. This enables private label retailers to increase profit margins, maintain a steady pace of sales, and make accurate purchasing and replenishment decisions.
Rosenman continued, "The private label repricing solution has been developed closely with Feedvisor's customers, and in its beta form has already produced incredible results. In the last two months, some customers have seen their private label sales jump by as high as 58 percent and their profit grow by 65 percent."
A recent Feedvisor and Web Retailer survey found that 17% of Amazon sellers only sell private label products.
In The Science of Pricing Feedvisor CEO Victor Rosenman talks about:
- Has background as an ecommerce consultant.
- Why algorithmic repricing is preferable to rules-based repricing.
- How Feedvisor calculates the best price to maximize profit.
- What's next for the company.
Source: Web Retailer Blog
Marketplace repricing tool Appeagle has added a new feature which can selectively ignore competitors on Amazon listings.
The new Ignore Competition setting allows sellers to more accurately define the type of sellers they'd like to compete against, remaining competitive while keeping prices above a minimum threshold.
Instead of staying at their minimum price when there are cheaper competitors, the Ignore Competition feature can be used to beat the next-cheapest competitor above the seller's minimum price - ignoring competitors who are cheaper.
The Ignore Competition feature is available on all three of Appeagle's pricing plans: Basic, Premium, and Enterprise.
Amazon and eBay repricer Appeagle has adjusted their entry-level price plan to allow repricing on multiple marketplaces.
Appeagle's Basic Plan now allows price management on one selling account for each marketplace, at no additional charge. Prior to this enhancement, the Basic Plan allowed for repricing on a single marketplace among those supported by Appeagle.
Users can now can manage pricing on one marketplace per country on any of the Amazon international, eBay international, and Rakuten.com marketplaces. This change ties into Appeagle's globalization initiative to help sellers expand their businesses across borders and sell globally.
Sellers can assign all listings across marketplaces to pre-existing pricing strategies, and manage inventory across marketplaces using Appeagle's Quantity Sync feature.
Cross-border ecommerce management tool WebInterpret has launched a new Amazon repricing feature.
WebInterpret's new Amazon repricer helps sellers gain a competitive edge in Amazon's Buy Box. First the tool selects items which it calculates have the most potential to win the Buy Box, then it sends a file with a price recommendations list for confirmation. In around two weeks sellers will be able to confirm the repricing list through the WebInterpret Seller Interface.
WebInterpret has also improved its translation software to better recognize brand names, and is working on automating conversion of sizes with both numbers and letters. Color mapping has been improved, and the company will soon release a new educational portal called WebInterpret Academy.
Marketplace repricing tool XSellco Price Manager has developed a new feature that replicates Amazon pricing to eBay and other marketplaces.
The tool is the first of its kind, says XSellco. Up until now, sellers have had to spend valuable time and resources manually replicating their prices or setting different price rules for every channel.
XSellco's CTO Niall Dawson said, "Clients have been asking us to do an eBay repricer. We figured – if we're going to do eBay, let's include Magento, Shopify and Bigcommerce as well. Sellers can make their existing Amazon channel the source channel. They can then set up a destination channel. There's a default destination price variation so you can match all your prices from Amazon – you can add as many channels as you have."
"A seller might have eight Amazon channels and six eBay channels. They could reprice their UK Amazon channel against their UK eBay channel and their Japanese Amazon channel against their Japanese eBay channel, for example", concluded Dawson.
The integration will work as follows:
- Pricing strategies will be definied as normal in Appeagle.
- Ecomdash and Appeagle will communicate pricing rules.
- Then minimum and maximum prices can be set in ecomdash, and automatically communicated to Appeagle.
A free webinar on Tuesday, October 27th at 2 PM EST will introduce Appeagle to ecomdash customers.
An interview has been published with XSellco's founder Ray Nolan and CEO Victor Corcoran.
Source: Web Retailer Blog
Marketplace repricing tool Appeagle has upgraded their technology to make searching for products up to seven times faster.
The Appeagle search function now uses Amazon's CloudSearch technology, meaning searches happen externally on the cloud, in as little time as 0.5 seconds.
The new search also includes prefix matching so a seller can look up SKUs that begin with specific digits, and a special syntax allows searches just within SKUs or titles.
The latest version of automatic repricing tool Appeagle includes pre-configured strategies for sellers to choose from.
The new strategies help new users learn the software, by choosing from pricing approaches such as Match Featured Merchants which allows sellers to compete only with Featured Merchants. Appeagle's Co-founder Aaron Cohen said, "The challenge is making the enhanced software powerful but also intuitive for those who don't want to learn, understand, and/or implement more advanced features."
Appeagle also has a new look and feel, the option to automatically calculate a minimum price, integrated links to support articles, and new security features to help identify errors such as repricing to $0.01.
Appeagle founders Koby Kasnett and Aaron Cohen were interviewed for a Web Retailer article in January 2015.
Amazon repricing tool BQool Repricing Central has increased its repricing frequency to four times per hour.
BQool's new "Accelerated Repricing" is able to reprice approximately once every 15 minutes.
"By offering our customers the option of Accelerated Repricing, it gives them the upper hand over their competitors in terms of repricing frequency," says Peter Kuo, Business Relationship Manager at BQool. "Always keeping on top of price rankings can ensure customers a better chance at winning the Buy Box and also staying in the Buy Box."
It's a challenge when trying to improve the speed and effectiveness of a repricing software as Amazon regulates how often sellers can change prices. "With Accelerated Repricing, we've produced a repricer that can run at maximum efficiency," says Peter. "We're also comfortable in telling our customers and the public our repricing frequency, as this is a product we are confident in, something we are able to guarantee our customers that we can achieve for them."
The Accelerated Repricing feature is available for sellers on Amazon US, CA, and EU (UK, DE, FR, IT, ES) subscribed to the Deluxe plan or higher.
Multichannel management tool Seller Dynamics has a new feature which automatically reprices eBay listings.
The new eBay repricer, also known as #DAVE, uses the eBay catalogue to find competing items. After importing stock, and setting upper and lower price points, Seller Dynamics will dynamically adjust prices up and down in line with the competition.
Alex Ogilvie, Seller Dynamics' Managing Director, said "It's the only automatic eBay repricer from a 'full blown' marketplace management system. It works in tandem with Amazon and Fnac, so one set of margins can be used across multiple markets if that suits the sales strategy, making it a breeze to use."
"We'd been asked by customers about eBay repricing, so saw an obvious demand. Because we have telephone based account management and support we find out quick where innovation is required. The underlying system is designed to be extended, so it was just a matter of prioritising the development work and getting it done. We're really benefiting from a system that's been designed with extensibility front of mind. Becuase of that there are a number of cute things coming down the pipe for 2015, eBay auto repricing is the first."
Source: Seller Dynamics
Amazon dynamic pricing solution Feedvisor has updated their recently launched Revenue Intelligence Dashboard with a new "Unrealized Profit" alert.
Feedvisor's monitoring identifies items that are winning the Amazon Buy Box, but could be winning it at a higher price without affecting sales volume. The "Unrealized Profit" alert highlights those items that could be sold for a higher price but are restricted by the ceiling price which the seller has set.
The Unrealized Profit alert exists alongside four other alerts, which highlight items that are not selling or selling too fast, for example. The Dashboard also enables sellers to see a high-level view of their key performance numbers such as sales and profitability.
In the article Appeagle CEO and co-founder Koby Kasnett, and marketing manager Izabella De Souza, talk about:
- How the business got started.
- How automated repricing has changed over the years.
- How they make sure Appeagle is reliable and bug-free.
- What makes Appeagle different, and what they have planned for the future.
Source: Web Retailer
Pricing optimization company get4it has launched a new "pricing intelligence" platform.
Founder and CEO James DeBoe said, "This launch has incorporated three main areas of functionality; Connectivity, Repricing, and Marketplace Intelligence. As we execute our road map our customers will notice a strategic focus on these three areas. get4it will, in a very short period of time, connect to every major marketplace and popular cart offering, as well as offer ever more intelligence, not only around pricing, but also many other metrics that are proven to increase online retail sales."
get4it connects to a merchant's sales channels, imports inventory data, and calculates the optimal competitive selling price.
Amazon and Rakuten repricing software RepricerExpress had a bug on Friday which reduced its merchants prices to only 1 pence.
The glitch happened on 12 December between 7pm and 8pm UK time. RepricerExpress CEO Brendan Doherty said the company was "continuing to work to identify how this problem occurred and to put measures in place to ensure that it does not happen again".
An Amazon spokesman told Sky News: "We are now reviewing the small number of orders that were processed and will be reaching out to any affected sellers directly. We responded quickly and were able to cancel the vast majority of orders placed on these affected items immediately and no costs or fees will be incurred by sellers for these cancelled orders. In the small number of cases where orders were processed, we are asking sellers to contact the third party software company responsible for their pricing in order to discuss next steps in terms of any compensation that may be due."
Source: Channel 4 News
The award was based on Frost & Sullivan's research into the analytics-based repricing software market, which concluded that Feedvisor repricing platform offered key advantages ahead of competitors (who were not named in the report).
"Feedvisor employs self-learning algorithms that adapt to various business objectives, thereby completely eliminating the need to define pricing rules or change the rules periodically," said Frost & Sullivan Research Analyst Sathya Vendhan. "Furthermore, as it is not dependent on rule definitions, it can be evolved for use in accurate repricing of stock options when financial laws and rules change often."
Each year, Frost & Sullivan presents this Award to a company that has developed a pioneering technology that not only enhances current products, but also enables the development of newer products and applications.
FeedVisor also won a Red Herring award this year, in April.
Source: PR Newswire
Amazon, eBay and Rakuten dynamic repricing tool Appeagle has announced new pricing to take effect from November 3, 2014.
Pricing for existing customers will not change. Existing users can also upgrade their plan, and trial users can start subscribing, at the old prices until November 3rd.
Appeagle's old pricing started at $25 per month and included all marketplaces, the new pricing starts at $50 per month for one marketplace.
Marketplace repricing system Feedvisor has released a new Revenue Intelligence Dashboard which shows in-depth business information and alerts.
The Dashboard, designed for high volume Amazon merchants, uses self-learning algorithms to display the most useful information. It is the first of its kind for online marketplace sellers, says Feedvisor.
Feedvisor's Vice President of R&D Eyal Lanxner said, "Feedvisor's self-learning algorithms collect and analyze a massive amount of information from thousands of data points, which have until now been used to drive our repricing platform. We have now opened up this rich data to our customers in a clean and intuitive way, providing them with a level of knowledge they simply did not have access to before. Our new Dashboard delivers critical business insights and adaptive alerts, which will play a key role in the day-to-day management of a retailer’s online business."
Feedvisor’s algorithms automatically analyze the competitive environment, product demand, and price elasticity of every product in a seller's inventory. For example, the Dashboard will highlight items that are not selling or selling too fast, show why this is happening, and enable sellers to make any necessary changes.
The new Dashboard has been developed with input from Feedvisor's customers, and tested by selected Amazon Marketplace sellers. As part of the launch, Feedvisor is offering high volume Amazon sellers the chance to try it out free for 14 days.
Provider of automated repricing for Amazon sellers Feedvisor has updated their popular guide to winning the Amazon Buy Box.
The September 2014 edition of the Buy Box Bible has been updated for recent Amazon changes, and includes new sections on the mobile Buy Box, Featured Merchant status, new Amazon terminology, and practical tips for improving seller feedback.
A summary from the original Buy Box Bible is included in Web Retailer's Marketplace Repricing: The Ultimate Guide.
The new Buy Box Bible can be downloaded here (name and email required).
Repricing tool for Amazon marketplace sellers Feedvisor has raised $6 million of venture capital funding.
The investment was led by Square Peg Capital, and follows a $1.7 million round in October 2013 by JAL Ventures, Oryzn Capital and Micro Angel Fund, who also participated in this round.
Feedvisor CEO and founder Victor Rosenman said, "Combining Big Data technology with machine learning algorithms has led to drastically increased performance levels for Feedvisor's clients, with up to 500% increase in their sales and 40% increase in their profit margins. With this substantial funding round we are looking to further evolve our pricing algorithms and continue developing our BI platform, to optimize every aspect of the retailer's business operation."
The Feedvisor platform manages inventory worth over $1 billion, says the company.
More details have been released on how the XSellco Repricer Buy Box Predictor works.
The company says multiple factors are used in their prediction algorithm, and given a weighting to help decide the probability of winning the Buy Box. For example, the FBA weighting makes an FBA seller more likely to win the buy box than a Merchant Fulfilled seller, even with a higher price.
Other factors taken into account are feedback count, feedback percentage, availability of expedited shipping, time to despatch, and the "despatched from" location.