Maintaining a successful Amazon business requires hard work and dedication. With competitors left and right, you should equip your business with the latest technology that the eCommerce industry has to offer.
When it comes to your pricing strategy, the best way to stay ahead of the competition is to use an Amazon repricer, preferably a more advanced algorithmic repricer like Seller Snap.
To know more about Seller Snap and Amazon sellers’ impression of the software, we have outlined some key points about the repricer.
What is an Amazon Repricer
An Amazon repricer is a type of Amazon seller tool that recomputes and changes Amazon listing prices depending on market conditions and other significant components.
The expected benefit of a repricer, automatic repricer in particular, is the reduced manpower required to continuously keep track of your competitors while relying on its competitive intelligence for price changes based on current marketplace data and algorithmic functions.
Does Your Amazon Business Need an Automatic Repricer?
You should know that Amazon sellers worldwide are making constant price adjustments to their product listings to win the Amazon Buy Box. These price changes are done automatically and instantaneously.
Imagine doing this task manually with voluminous inventory. Performing such a task requires a substantial amount of effort and time on your part. That is why Seller Snap is used and highly recommended for high-volume sellers and those newbie sellers wanting to rid themselves of the labor of manual repricing.
In fact, Seller Snap users save as much as 80 hours per week on repricing, which allows them to focus on other critical aspects of their Amazon business.
Why Seller Snap is a Unique Repricer
Since it was released onto the market, Seller Snap has been a standout, mainly because of its functionality and superior features. It not only helps you obtain the Amazon Buy Box, but it also helps you win your entitled Buy Box share while preserving your profit margin through securing a higher listed price.
A typical repricer aims to win the Buy Box by competing against every price change a competitor makes. In most cases, these price changes result in a race towards the lowest price point, leading to a profit loss.
Seller Snap avoids price wars altogether. Since the software is based on the Game Theory principle, it does not blindly lower the listed price, but instead applies the best repricing strategy depending on marketplace situation and competitor behavior.
The sophisticated repricing technology translates into Amazon sellers optimizing over $130M in monthly sales with Seller Snap.
Understanding Game Theory, Price Wars, and AI Repricing
Game Theory is a branch of mathematics that deals with analyzing conditions in which participants make interdependent decisions. Since participants’ findings are dependent on each other, each participant considers other participants’ possible decisions when formulating a game plan or strategy.
Simply put, Game Theory studies situations that involve more than one participant or “player,” in which everything does not depend solely on one person. To illustrate, in a chess game, player A’s move directly influences the response or strategy to be actualized by player B.
However, worth noting that Game Theory does not necessarily apply only to actual games. It can also be used to analyze situations in which multiple brands or stores compete against one another.
The actions of one store are influenced by the action of the other stores, just like in an actual game of chess. If a competitor lowers the price, other market participants might be forced to do the same.
Game Theory analyzes the behavior of multiple participants in a competitive situation. With the help of Game Theory principles, a confusing array of outcomes in real-world settings can be resolved, including price wars.
What Is a Price War?
In summary, a price war is a form of commercial competition characterized by a repetitive slashing of the price below those of competitors. In some scenarios, such price slashing is emotionally driven in response to other sellers’ price cutting.
If an Amazon seller engages, they inevitably enter into an Amazon price war. Entering into an Amazon price war is often not a good idea, for price wars can easily undermine profit margins.
To put it into perspective, a 1% drop in price can result in more than a 10% decline in profit.
AI-Game Theory Repricing
One of the best ways to avoid price wars is to use an automatic repricer like Seller Snap.
Seller Snap collects data directly from Amazon and continually analyzes the data to predict your competitor’s behavior. The algorithm then applies the best strategy for each specific situation, resulting in optimum price optimization for your listing.
While keeping your listing price highly competitive, Seller Snap also helps you win the Amazon Buy Box at the highest possible price, while maintaining Buy Box share.
Seller Snap’s Best Features
Seller Snap offers excellent functionality and features to Amazon sellers. Here are its notable features.
As a repricing software, Seller Snap is capable of self-learning intelligence, which means that it can think like a real Amazon seller.
When Seller Snap’s repricing algorithm detects the behavioral change of a competitor and other marketplace conditions, it creates a tailored repricing strategy to outsmart the competition.
Amazon sellers favor Seller Snap because no set-up is required. All you have to do is add your minimum and maximum prices – with Seller Snap, it is simply “set it and forget it.”
Customizable Repricing Methods
Suppose you have a particular repricing approach or marketing strategy in mind. In that case, you can rely on Seller Snap to provide you with a wide array of repricing settings apart from automatic repricing.
Below are some of the repricing methods to help you achieve your specific repricing goals.
- Win Buybox
- Recurring Price Change
- Set to Max Price
- Set to Min Price
- Set to Last Purchase Price
- Follow BuyBox
- Follow competitor
- Follow Lowest SFP
- Follow highest FBA
- Follow highest FBM
- Follow lowest FBA
- Follow lowest FBM
- Follow Related ASIN
- Follow Multiple Related ASINs
- Follow Lowest Competitor
- Follow Lowest Multiple Competitors
Amazon sellers are also drawn to Seller Snap because the repricer allows sellers to enter conditions that they deem necessary. Some of these conditions include:
- If the competitor is Back Ordered
- If Buy Box is suppressed
- If the competitor is FBA
- If the competitor Is FBM
- If you are the only seller
- If there are no Purchases
- If it’s a certain Time Of Day
User-Friendly Interface and Seller Analytics
Since most Amazon sellers spend more time on the Listings Page, Seller Snap designed a user-friendly interface. For example, on its listing dashboard, sellers are easily given access to analytics graphs, date range, search function, filters, aggregations, trends, and the listing table.
Additionally, Seller Snap also has responsive Seller Analytics that gives you a detailed view concerning:
- How Well Are Your Products Selling
- Who Are Your Competitors
- How Are Your Inventory Levels.
Plans & Pricing
Seller Snap offers 4 monthly pricing plans:
Standard plan: $500 per month
- 1 Store
- 3 Users
- Up To 15,000 Listings
- AI Game Theory Repricing
- Price based on Related ASINs
- Custom Repricing Strategies
- Sales, Profit, Buy Box share, and more on each listing
- Store Level Aggregations and Trends
- Filters to Focus on Groups of Products
- 24/7 expert support
Premium plan: $800 per month
- 3 Stores
- 10 Users
- Up To 30,000 Listings
- All Standard Features Plus Advanced Analytics
- Additional data points such as Sales Rank and Inventory Age
- Custom Actionable Insights
- Automated Workflow
- Open API
- FTP file uploads
- 24/7 expert support
- Dedicated account manager
Unlimited plan: ask for a budget
- Multiple Stores
- Unlimited Users
- More than 30,000 Listings
All Premium features Plus:
- Dedicated environment
- Custom integrations
- 24/7 expert support
- Dedicated account manager
Accelerator program: fixed monthly fee of $250 during the cycle
This program is a unique program made available for first-time Seller Snap users and smaller sellers.
- Access to Seller Snap’s AI-powered repricer
- Extensive seller analytics
- All additional repricing tools
- Amazon sellers with no more than 1000 active listings.
- Selling products that have competition for the buy box.
- Average monthly sales of less than $25,000 USD in the past 3 months.