When you’re in business for yourself, knowing when to take the next step is strategic, such as knowing when to start using a repricer. This amazing software tool allows you to streamline uploading inventory, changing prices, and setting pricing strategies. While a repricer is super useful, it’s not for every Amazon FBA seller immediately.
To determine if your business is ready to start using a repricer, you must evaluate your inventory size, sales volume, and current budget. This information will help you decide whether it’s time to invest in a repricer or to hold off for a little longer.
Let’s jump in and break it down!
Inventory Size
Different camps say different things. Some believe it’s important to have a repricer right from the start. However, we know what it’s like to start with a small budget, and we believe if you have a very limited budget, it should be used on buying inventory until you can grow your capitol.
A good rule of thumb is to ask if you have more than 100 SKUs in your inventory. It’s easier to go in and reprice a small inventory manually in Seller Central, even if it’s annoying. You’ll be able to maximize your dollar by using your time.
However, once your in-stock inventory has grown to more than 100 SKUs, it may be good to consider a repricer because you’ll be wanting to use your time in other capacities rather than adjusting prices and such. This is not a “rule” but more of a suggestion as to when to start thinking of purchasing a repricer.
Sales Volume
When your sales volume has boomed, creating a constant need for selling and rotating stock, it may be time to invest in a repricer. This software allows you to automate your strategies and handles some of the annoying, time-consuming details. A good repricer is like your ideal office assistant – just quietly getting things done.
Also, it’s important to remember that a repricer won’t just magically work for you. It’ll take you a bit to get the swing of the software and personalize it to your goals. But in time, a repricer can help to adjust the prices of your inventory to match the general trends of sales demand, special selling seasons, and abrupt changes in online inventory availability.
Budget
While a repricer is certainly an investment in your Amazon FBA business, it doesn’t always make sense immediately depending on your financial goals. If you’re a new Amazon seller with very few sales, you may want to wait until you have steady sales and a higher sales volume. Consider your revenue, profit, and operating costs before jumping to purchase repricing software.
Once you determine that it fits your goals and budget to purchase repricing software, keep an eye on how your repricer works for you. Ideally, it should offset its cost within a few months.
Undoubtedly, a repricer is an amazing tool for Amazon FBA sellers. While it includes a learning curve when you first begin to apply it to your inventory, the payoff is worth the time to learn and use the software appropriately. So when you decide to start using a repricer, take the time to learn the software.
**Note that all repricers come with free trials, so if you’re on the fence about it, it’s definitely worth your time to try some out to see how implementing it will affect your sales. After the free trial, you will have a clearer idea on whether it’s the right time or not**
Which Repricer?
There are a lot of repricers out there, and we’ve tried them all. However, there are two different repricers that stand out above the rest, and which one you use depends on how big of a seller you are.
We have two repricers we highly recommend: Aura and Seller Snap
We love Aura because it’s the perfect tool for sellers who are just getting to that size where manual repricing is just not cutting it. Aura integrates with Inventory Lab, and its default repricing strategies can boost your sales and profits without too much fiddling. However, once you start to get the hang of the system, you can begin to explore your repricing strategies.
Aura allows you to quickly define competitors, keep track of key metrics, and determine the best repricing strategies for your Amazon inventory. With its use of Artificial Intelligence, Aura is quick to reprice and learn your inventory as well as the corresponding market. You can watch our interview and how-to video with one of Aura’s founders here: https://www.youtube.com/watch?v=ntjJB_QA7cA
Aura Price: $97/month or $77/month (if charged annually)
Create your Aura account today: http://bit.ly/HB-Aura
So your Amazon business has exploded, and it’s bigger than ever. This is when Seller Snap comes in as the perfect repricer tool. To be straight up with you, we believe Seller Snap is best for a large Amazon seller business, so if your business is still on the smaller side, we suggest using Aura due to Seller Snap’s price. However, if you are a medium or large seller, Seller Snap will easily pay for itself.
Seller Snap is based off of a “Game Theory” for its repricing, which means that it easily outperforms rule-based and algorithmic strategies. It also can help to move out old inventory in a way that other repricers are not able to do. Beyond that the AI repricing and customizable strategies allows Seller Snap to give your inventory an advantage without creating a bidding war. It strategizes how to adjust pricing to maximize your profit and revenue.
Over and over, we’ve been impressed by the customer care that Seller Snap staff offered. They consistently checked in our business and helped us learn how to maximize the different features. They even gave us a special coupon code to share with you! If you use the code HUSTLEBUDDIES15%, Seller Snap will give you 15% off your first three months with them.
Seller Snap Price: $500/month – $800/month- Use code HUSTLEBUDDIES15% for 15% off your first three months.
Create your Seller Snap account today: https://bit.ly/HBSellerSnap
Every Amazon FBA business is different so it’s also important to choose the software that will best serve your business for the right price.
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