Why Amazon & eBay Sellers Should Use Automated Repricing (Guest Post)

By Erik Mathes

A guest post from Erik at Appeagle discussing the power and benefits of a high-quality automated repricer:

If you sell on Amazon and/or eBay, then chances are you’ve heard of automated repricing software, also known as repricers. The job of a repricer is simple: To constantly adjust and update the prices of your listings relative to the prices of your competitors.

Sellers use automated repricers to stay competitive at all times without having to perform the tedious work of manually updating their prices after doing incredibly time-consuming research to see what competitors are charging for identical goods.

Repricing software comes in all shapes and sizes, from no-frills repricers with minimal functionality to $1,000+/month software suites that perform multiple tasks beyond repricing, but charge an additional percentage of sales beyond the four-figure base cost.

In the middle of these extremes you find Appeagle, a software dedicated to high-performance automated repricing on Amazon, eBay, and as of this spring, Walmart Marketplace.

As a dedicated repricing software, Appeagle has come to define what a high-quality repricer should be, offering sellers the option to use algorithmic repricing and rules-based repricing to manage your prices, depending on what you deem best for each listing at any given time.

We’ll dig deeper into the differences algorithmic and rules-based repricing later. For now, let’s start with why you should consider adding an automated repricer to your arsenal of online selling tools.

The case for using an automated repricer on Amazon

If you haven’t noticed, there are tons of people selling identical items on Amazon.

That means that in order to get sales, you need to price your products competitively enough to win the Buy Box, that prized piece of digital real estate where you find the “Add to Cart” button on the majority of Amazon listings pages.

(Some listings pages have what’s known as a “suppressed Buy Box” where there’s no “Add to Cart” button, and instead you find a “See All Buying Options” button leading to the full list of sellers of a particular item, but this is rare.)

To win the Buy Box, sellers must have stellar performance metrics, such as a high seller rating and feedback score, and low order defect rate, pre-fulfillment cancel rate, and late shipment rate.

But those are far from the most important factors when it comes to winning the Buy Box.

Above all else comes fulfillment method and landed price (a.k.a. selling price + shipping price).

While it’s relatively simple to manage your fulfillment method by deciding between FBA or MFN, a.k.a. fulfilling orders yourself through the Merchant Fulfilled Network (or, if you have good enough seller metrics, Seller Fulfilled Prime (SFP), which affords top MFN sellers the privilege of offering free Prime 2-Day Shipping to customers), it’s not as easy to manually manage your listing prices.

That’s because with so many competitors across different time zones constantly changing their prices in an effort to stay competitive, it’s virtually impossible for you to keep up.

Between monitoring your competitors’ prices and then making manual updates via Seller Central, the tedious work of manual repricing can cause you to burn out fast due to its never-ending nature. Not to mention how ineffective and inefficient it is to manually adjust your prices.

That’s where automated repricing comes into play.

What a high-quality repricer allows you to do

Instead of wasting countless hours doing mind-numbing manual repricing work with minimal effectiveness, an automated repricer performs the same work 24/7 with exponentially higher effectiveness.

When you first start using a repricer, the setup requires having a solid understanding of your costs, from sourcing to shipping, fulfillment fees to potential returns, so you can set up price thresholds (known as your minimum and maximum, or min and max prices).

Setting these price floors and ceilings correctly ensures that you’ll never sell at a loss, you’ll lock in a minimal profit that you’re comfortable with at your lowest possible selling price, and you won’t overprice your products relative to the market.

Once you input your min and max prices for your listings (which you can conveniently do in bulk via .csv or .txt file uploads with Appeagle), you’re ready to start planning your repricing strategies.

With a high-quality repricer like Appeagle, you’ll be able to choose between algorithmic repricing and rules-based repricing to power your listings into the Buy Box and generate more sales.

 Algorithmic versus rules-based repricing strategies

Algorithmic repricing utilizes an intelligent algorithm developed by our engineers and in-house team of veteran online sellers known as our “Get the Buy Box” strategy.

The best part about it is that it doesn’t require any additional thinking from you. Simply select Get the Buy Box as the strategy for any listings you want to use it on, and let it get to work constantly adjusting your prices relative to the current Buy Box price until you win the Buy Box yourself.

Rules-based repricing is your other option, and within in, you have a bounty of choices when it comes to customizable strategies that let you determine exactly how you’d like to compete on any given listings.

For starters, you can decide whether you want to price below, price above, or price match competition.

Beyond that, you can base your custom strategies on everything from:

  • Fulfillment type (all competitors, FBA only, MFN only, Buy Box price, and more)
  • Seller rating
  • Number of handling days
  • Backordered status
  • Featured Merchant status
  • And for eBay, feedback rating and top-rated seller status

You can even exclude specific sellers by name, exclude Amazon entirely, and compete differently against FBA sellers, MFN sellers, and Amazon on the same listing.

And if you’re not looking to create your own rules-based repricing strategies and prefer a simple alternative, Appeagle also includes pre-configured strategies that let you compete with Featured Merchants or compete with the lowest price.

The bottom line on automated repricing

In life, you can boil the cost of most things down to time and money.

While a repricer adds a monthly cost to your business budget, the amount of time it saves you from unpleasant, unproductive work is so massive it’s impossible to calculate.

Beyond that, sellers will gladly tell you that their investment in repricing software pays for itself fast, as it leads to an increase in Buy Box share, and, as a result, more exposure, more sales, and more profits. Not to mention that it affords savvy sellers the chance to live a life on their own terms instead of being stuck behind a computer screen doing manual price changes (or paying an employee much more than the monthly cost of a repricer to perform the same task with less efficiency).

We’d love for you to experience the power of Appeagle’s automated repricing software to see if it can boost your business the way it has for so many other sellers.

That’s why we’re inviting JoeLister blog readers to test out Appeagle with a 14-day free trial. Just follow this link to our website to get started, and if you ever have any questions, feel free to contact support@appeagle.com.

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Why Amazon & eBay Sellers Should Use Automated Repricing (Guest Post)

3 Reasons Why Product Review Data is Your Best Friend (guest post)

A guest post from Colleen of eComEngine, delineating the power of well-tapped product review data:

If you’ve sold online for very long, you already understand how quickly things can change. One minute, an item is the hottest trend. The next minute, it’s already out of style.

Staying ahead of the curve can be challenging, especially for small to mid-sized eCommerce stores. Luckily, Amazon product review data is a goldmine of information. You just need to know how to use it effectively.

In this post, we’ll share three reasons why Amazon product review data is so valuable to your business (and what to do with it).

 

Product Reviews Serve as Your Own (Free) Focus Group

Multinational corporations spend millions of dollars each year on focus groups and product research. The purpose of this data is to understand customers’ wants and needs and then adjust product mixes to better serve the market. Unfortunately, for most eCommerce companies, market intelligence often falls to the bottom of the priority list. While the data could be extremely useful, spending significant resources on customer research simply doesn’t make financial sense.

Smart merchants already understand that there is a treasure trove of intelligence available (for free) on the Amazon marketplace. Simply key in any SKU, ASIN or brand name, and you can instantly read what hundreds of consumers think about the products you sell.

Naturally, most reviews are from orders fulfilled by other merchants or Amazon.com, Inc. (“Amazon”). But that’s the great news about how Amazon has structured its feedback system. As we pointed out on our own blog, seller feedback and product reviews are completely different data points. So, when you’re analyzing product reviews on the Amazon marketplace, you can be assured that any shipping or service related issues are isolated to the seller’s feedback rating. This means that product reviews actually reflect how a product performs.

Continue reading “3 Reasons Why Product Review Data is Your Best Friend (guest post)”

3 Reasons Why Product Review Data is Your Best Friend (guest post)

August JoeLister Updates: MFN + UK/Canada Support

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Whereas the previous two month’s of updates largely had to do with design and updated pricing calculator/features, this month’s updates focuses more on expanding the range of JoeLister in terms of what you can sell and where you can sell from. Here’s the primer:

  1. MFN is now supported. Short for Merchant Fulfillment Network, MFN is when you ship products to customers directly from yourself. JoeLister makes this easy by making the eBay listing process exactly the same for FBA and MFN products; when this feature rolls out to everybody in a few days, you’ll see a dropdown toggle in your “Amazon Inventory” tab that allows you to switch from your FBA inventory and your MFN inventory.
  2. UK + Canada is now supported. Now, you can use JoeLister to list + fulfill on www.ebay.ca or www.ebay.co.uk!

With these updates, we hope that everyone can take advantage of the cross-listing capabilities that JoeLister has to offer, in more countries than just one.

August JoeLister Updates: MFN + UK/Canada Support

The Other Amazon Guys: Recent Articles About Amazon Employees

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You might or might not have heard about the New York Times article that sharply criticized Amazon for its workplace conditions, but it’s there and it’s been causing a whole discussion on workplace ethics in tech companies. But worry not; I’ve aggregated a bunch of the relevant articles in a neat package for you to read.

THE ARTICLE THAT STARTED IT ALL

A scrutiny from the New York Times taking a look at workplace culture inside Amazon: Inside Amazon: Wrestling Big Ideas in a Bruising Workplace

RESPONSES

A pro-Amazon post, attempting to refute details of the New York Times article: An Amazonian’s response to “Inside Amazon: Wrestling Big Ideas in a Bruising Workplace

Jeff Bezos’s own response to Amazon employees, giving his view on company culture at the moment: Amazon’s Jeff Bezos Replies to Criticism on Workplace Policies

Reaction from a senior editor at Re/code, in an interview from NPR: Tech Industry Reacts To New York Times’ Amazon Exposé

A op-ed on New York Times questioning if the negative portrayal of Amazon’s workplace culture was valid or not: Was Portrayal of Amazon’s Brutal Workplace on Target?

An official, non-editorial article from the New York Times talking about the responses, including that of Jeff Bezos: Jeff Bezos and Amazon Employees Join Debate Over Its Culture

Hat tip to all sources for the articles, as this is, after all, an aggregation of all the news out there.

The Other Amazon Guys: Recent Articles About Amazon Employees

A Guest Post: 888Lots, a Different Way to Source Inventory

You’ve seen services that help you optimize sale strategies, services that help you list on multiple online marketplaces in Asia, Dash buttons that allow you to order one – that’s right, only one – kind of items from Amazon, and maybe a bunch of blue and orange circles representing data from JoeLister. But have you seen anything like 888Lots? Ok, maybe you’ve seen liquidation services – but 888Lots, with one heck of a distinct name (and a corresponding $88.88 “Lots Master” plan) does this online and pretty much all the time. Check it out. If only for features like “Mystery lot”, this guest post is a pleasure to read. 

888Lots: Who are we?

Platform

888 Lots is an online platform for liquidation sales and wholesale lots. What we offer for sellers is the opportunity to buy brand new merchandise from over 100,000 products in more than 30 different categories.

What we offer?

All kinds of different lots specially made to meet the needs of all online sellers.

Our lots and items:

  • Low-cost lots – low-cost items perfect for flea markets
  • Standard lots – all kinds of items on all kinds of prices
  • Branded lots – contains only items from one brand
  • Premium lots – higher per-item values, the lowest possible shipping costs and marketplace fees, and the highest margins possible.
  • Lot of the Day – a special lot on a special price with a flat shipping cost of $8.88.
  • Mystery lot – sometimes our Lot of the Day will be a Mystery lot which contains items without ASIN numbers and barcodes. Everything about it is a mystery, but the price is the real gem. You can expect to buy these lots on very low prices (sometimes even under $100!) considering the overall value of the items in it.
  • Individual items – You have the opportunity to buy just one item instead of buying an entire lot. All of the individual items have high profits.

And if you are wondering how JoeLister can help, you should know that not every item can be sold on Amazon. That is where JoeLister can help you to maximize your profits: by allowing you to sell the items onto a different marketplace.

Details

All of our lots come with as much detailed information as possible, plus a downloadable manifest file with all of your lot content in it.

Detailed information to help you make smart buying decisions, such as:

  • ASIN numbers
  • UPC codes
  • MSRP value
  • OFF MSRP value
  • Detailed manifest file with reviews rank and sales rank
  • Item quantities
  • Item descriptions
  • Last known prices of the products
  • Sorting by different item information
  • and more

Our features

  • The Negotiator – you can negotiate the price of each lot
  • Bulk uploader file – you can download your entire lot content into a file, ready to be uploaded directly in your Amazon seller central saving you hours of work
  • FBA profit calculator – FBA fulfillment profits and fees in real time on our website
  • Email notifications
  • Dedicated sales representative

How we work?

888lot_workflow

Our plans and pricing

Our team has come up with three subscription plans to meet the needs of all of our customers. You can find more about them from the picture below or if you visit our website.

subs plan

Our Vision

We believe that hard work and service quality is the key to a successful business. Everyone on our team is dedicated to bringing you the best liquidation service. From our warehouse managers to your dedicated sales representative and our developers, we are constantly hearing from our customers and members to tweak and polish our platform so you can enjoy a smoother buying experience from the moment you register to the moment you make your first sale.

If you want to be part of our journey to become the most advanced liquidation platform, sign up now – for free – at our website: 888Lots.

A Guest Post: 888Lots, a Different Way to Source Inventory

VISUAL: PERCENTAGE FBA INVENTORY LISTED ON JOELISTER

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Your JoeLister visual of the week: a representation of percentage FBA inventory listed on JoeLister. The circles highlighted in orange represent more than 50% of FBA inventory listed on JoeLister, and the blue are listings with less than 50%. The size corresponds to the percentage.

We can also do this with last week’s visualization, by the way. In this one, anyone with more than 2,500 items in FBA is represented by an orange circle. The size corresponds to the amount of FBA items. 

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VISUAL: PERCENTAGE FBA INVENTORY LISTED ON JOELISTER

The Dash Button: Amazon Gets (Kinda) Serious About Automation

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An array of small buttons to take over your house, one click at a time. 

We like to think of ourselves here at JoeLister as helping people through automation. We’re making it easy for you to list on both Amazon and eBay, and we do that by taking care of a lot of things that you otherwise would have to do yourself manually (creating listings, fulfilling orders across platforms). With the dash button, Amazon now does the same. Well, not really. Sort of.

From the Verge

“When Amazon announced the Dash Button back on March 31st, it seemed like an early April Fools’ joke: it had made a button you can buy that would place an order for something — a single, specific product — whenever you pressed it. But the Dash Button was very real and designed to be a convenience for helping people reorder commonly used household goods, like toilet paper or laundry detergent. They were initially available for free to Prime members, but only by invitation. As of this week, they’re now available to be purchased by all Prime members for $4.99 each.

There are 18 Dash Buttons so far, with buttons for Glad bags, Bounty paper towel rolls, Smartwater bottles, and Gerber baby formula, among others. Each button represents a specific brand, but from within that brand you have some choice over what product and what quantity you want to order whenever it’s pressed. (That means you won’t be stuck getting fruit punch Gatorade every time you press the Gatorade button and can move onto something more sensible like Glacier Freeze.) Frivolous as it is, the Dash Buttons certainly seem like a convenience for household staples that you regularly need. Just don’t accidentally hit it when you’re still stocked up.”

We’ll save you the work: if you didn’t click the link up there already, you can go here to see the page for dash buttons.

S/O to Amazon for the info, and Verge for the article. Oh, and Amazon for the buttons.

The Dash Button: Amazon Gets (Kinda) Serious About Automation