Winning the Buy Box for a product can result in 500% more sales. Applying repricing methodologies across your entire inventory will result in greater sales and improved profits.
Below we outline the process of Repricing – how it works and why you should implement it.
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Whilst everyone agrees that the holder of the Buy Box tends to sell more – over 80% of sales in fact. Many Amazon sellers also assume that the lowest price will always win the Buy Box. This is not usually true.
Amazon does not publicly disclose the exact formula that it uses to determine who wins the Buy Box. Whilst many have tried, none have succeeded in reverse-engineering the algorithm. It is known for example that Buy Box calculations can vary by geography and time of day in certain countries.
However, apart from price, factors listed below are known to play a role in whether your stock will get listed in the Amazon Buy Box:
Below are the steps Repricer takes to ensure you’ve maximum likelihood of winning the Buy Box:
1. Amazon detects a Price change or New Seller joining a listing
When a price change occurs for one of your listings, Amazon instantly notifies Repricer so that it may react.
2. Repricer collects additional information about other sellers
Information on price and inventory levels for all other sellers of that listing is collected. This ensures Repricer is best placed to calculate a new price
3. Data is instantly processed and a new price is calculated
Repricer instantly analyzes the price notification. Through AI-driven repricing and your selected strategy, Repricer determines a new price, factoring in aspects like competitor prices, shipping durations, feedback stats, profit margins, and more.
4. Security checks are performed on the new price
The proposed new price undergoes validation and safety checks to ensure it aligns with minimum and maximum price or profit ranges that you set. This ensures you never sell too cheaply or outside of Amazon’s pricing limits.
5. New price is uploaded to Amazon
The new price is sent to Amazon. Depending on the Repricer product you choose, this price upload can take place in seconds or within a few minutes.
6. Amazon updates listings and re-assigns Buy Box
Amazon updates the new price on your listing, reflecting it on the product pages for buyers to see. It once-again applies its algorithm to all sellers for this listing, and assigns the Buy Box to a single seller.
Note : If Safe Mode is enabled within Repricer, the proposed new price is displayed within Repricer, but it is not uploaded to Amazon. This can be useful – allowing users to become familiar with repricing without fear that prices will be updated.
Repricer runs on over 1000 super-powerful Amazon AWS servers ensuring the data is received immediately, processed quickly, and that new prices are calculated and uploaded in seconds.