If you’re currently selling on Amazon, chances are you’d be faced with the challenge of making sales due to the fierce competition. Of course, you’re on Amazon to make sales, and no one wants to be left behind. So, if you’re currently looking for ways to beat your competitors, this article is for you.
In this article, I will present a step-by-step guide on how to beat your competitors every single time using Repricer Express to reprice your products. This requires automating the whole process because doing it manually will amount to staying on Amazon all day, that’s not cool. And your competitors are already on automation, giving them an edge over you.
So, let’s dive in!
Set your minimum and maximum price
The first thing is to list all your products on a Google spreadsheet (that’s what I use) including the gross buying price, shipping fee, gross retail price and the profit after all fees. This is the beginning of setting your minimum and maximum price. You may wonder why do you have to set up your minimum and maximum price instead of letting Repricerexpress do the job. But here it is; while Repricer Express does a great job and it’s affordable, you have to limit the pricing because if you don’t set a maximum price, Repricer Express can’t automatically set a price for you in a case where your competitor goes out of stock. Repricerexpress won’t know the right price to set because it doesn’t have the algorithm in place to choose the best possible price based on sales history for the product.
If you’re reading this, you certainly want to make some money through Amazon drop shipping, and that’s exactly what you’re reading. It’s all about using Repricerexpress.
Set a maximum gross price
Now, you don’t want to sell products where you have less than 10% ROI (Return on Investment), it doesn’t make any sense, at least for me, so that’s my minimum gross price. For my max gross retail price I choose 50%; of course, it should be whatever you are okay with. When you source a product where many competitors are over 50%, the product seems to sells for that higher price, then obviously you will go higher but if you have to set a maximum gross price and the current price on Amazon is lower than 50% then you should choose 50%. This is because you shouldn’t go too high when the nearest competitor is out of stock. You may lose out on many sales because it’s just overpriced. If the product is just overpriced and people know that it’s not worth it they will try to find it cheaper somewhere else so that’s why you should leave it at 50%, but obviously, it’s up to you. You should choose the percentages that you want to work with.
Using Repricer Express
After calculating your minimum and maximum gross retail price, you can then head to Repricer Express. If you haven’t signed up with them, you can simply do so and start a free trial, but you have to use my code – RX30121 to get a discount. Once you are logged in – you need to go to the tutorial page to learn how to connect your marketplace to their software basically because you have to connect all your marketplaces individually to their software. After connecting them, you have to reprice all your products again. If you need an in-depth tutorial on how to do this – head to the help desk of Repricer Express where you can find a lot of articles and videos to show you exactly how you can do it.
I have made a detailed video that will further explain all you need to do with Repricer express to beat your competitor on Amazon. Watch the video below: