As the e-commerce world is forecasted to grow by 50% over the next four years, markets are becoming more saturated meaning the competition is always on your heels. So, it’s best to stay ahead of the game and keep them guessing. Repricing your products is a fundamental part of competing and winning the Buy Box. However, what if your competitors’ pricing becomes stagnant or you’re simply looking to outwit them?
In this article, we will discuss the Kick Start Repricer and how this can be an effective strategy for improving profit margins whilst keeping your competition on their toes.
What is the Kick Start Repricer feature?
The Kick Start Repricer is a feature available on the Plus Plan or higher that periodically increases and decreases your product’s prices throughout the day. This is great for three main reasons.
- Firstly, it helps stimulate your competitors to change their pricing through an automated loop to increase profitability.
- Secondly, if the competition is strong, it allows you to break the recognizable pattern of how to competitively compete for the desired Buy Box, therefore confusing your competitors.
- Lastly, it keeps your product’s prices changing even when there’s no competition in order to maximize your profit potential.
Navigating to the Kick Start setting
To set up the Kick Start Repricer you need to open up your ‘Repricing Rules’ on the left-hand side of your screen. Next, choose the rule you’d like to open and click on the ‘Advanced Options’ tab. Finally, scroll down to the scenarios section and here you’ll find the Kick Start Repricer.
Using the Kick Start setting
As discussed, by using the Kick Start Repricer feature you can choose to increase or decrease your price as well as set how much by, whether this is by a set amount or by a percentage.
It also allows you to choose how often this happens and if you would like your product’s price to remain at this amount for a period of time.
Finally, you can stop repricing entirely and ignore any competitors’ price changes during this period.
By ensuring your price is constantly increasing or decreasing, even when your competitors aren’t repricing, allows you to be dynamic in your pricing strategy. This keeps your competitors’ guessing what you’re doing whilst also confusing simpler repricing engines they may be using.
This is just one more advanced feature offered by Repricer.com that keeps you two steps ahead of your competition. If you haven’t signed up for a free trial yet, we have a 14-day free trial available or why not set up a demo with one of our helpful team members who will be happy to show how it can improve your sales.