How to increase your

marketplace sales with repricing?

Marketplace repricing – What does it mean?

In a simple words, marketplace repricing means a seller making

changes in the price of their products they offer on platforms that

includes Amazon and eBay. It is mainly done for a competitive

advantage.

How can I increase my marketplace sales with repricing?

Repricing a product too low can reduce profit margin and pricing a

product too high may not bring in sales. Market repricing has to be

planned well, because an uncompetitive price will push your

products way behind other products listed on the marketplace,

which in turn will affect the bottom line of your business.

Therefore, to be a successful marketplace seller you need to find

ways that will always keep your products at a very competitive rate

to drive-in more sales and increase your ROI.

Below are few suggestion that will help you increase your

marketplace sales with repricing.

1 - Determine your cost

Your product's price listed on marketplaces will determine the

conversion rates. Therefore it is always suggested to determine

direct cost – including stock, shipping, packing, and other indirect

cost applied with those product. This way you get your unit cost, by

which you can start testing repricing your products which will help

you gain a deeper understanding what repricers do and in the end

settle for the most competitive price that will bring in more sales.

2 - Know which product to reprice

Repricing multiple products at a time without preparation can lead

to poor sales, and in the end affects the bottom line of your

business. So, it is always suggested to select few products to

represent the whole, which makes it easier for you to test which

set of products has more response from buyers. This way working

with small batches will help you focus more thoroughly and

quickly, and allows you to increase your marketplace sales with

repricing.

3 - Implement a repricing tool

Automating repricing has it's own pro's and con's, as

implementing a repricing tool may not work the same on all your

marketplaces, but having it in place will help you understand and

learn what are the effects of repricing and how far it benefits your

business. It is always suggested to implement the repricer solution

offered by the same marketplace through which you sell your

products, as it will help you better understand your product's

demand and reprice them at a very competitive price, which in turn

will increase the chances of sales and boost profit margins.

4 - Test and Adjust

Having a repricing tool for your marketplaces is good, but that's

not all. Because what may work now does not mean it will work

forever. So, it becomes crucial for you to test the benefits that your

are getting from the repricing tool, review them and finally make

adjustments. This way you can make better decisions and focus

more on the best selling products.

Repricing tool available in the market

There are two ways of getting a repricing tool: a repricing tool

offered by specialist who are just focused in repricing and the

other, a built-in repricing tool offered by marketplaces.

A specialist repricing tool will benefit you the most as they are

focused on performing one function, hence they will do their job

well. On the other hand, using a repricing tool offered by your

marketplace, it becomes easy for you as a start-up to understand

and optimize repricing.

In conclusion

In a platform where millions of sellers are performing the same job,

it becomes difficult to manually track and reprice your products,

therefore automating repricing will make for an utmost benefit,

bringing in more sales than you expect!