Automate Pricing tool - The best way to price your product
Automate your product pricing to make the most of special occasions and win the Buy Box on Amazon.in. Use Automate Pricing tool to automate your product pricing to stay a step ahead of your competition and remove the manual process.
A seller, whether offline or online, has to keep changing his product prices for different occasions and events. But would you do that manually each time for every item? That’s a tedious process and you need a lot of time to do that. Perhaps you’ll need someone dedicated to just adjusting the price.
Amazon.in has made it a quick and hassle-free process for you by introducing the Automate Pricing Tool.
What is Automate Pricing Tool?
Automate Pricing allows you to automatically adjust prices on your products (SKUs) for different purposes, like for Buy Box price. You don’t have to revisit your products each time you want to change the price. All you need to do is set your pricing rule once and go worry-free, the tool will take care of the rest.
Why does it matter?
Pricing is an important part of your business. Automating your pricing plays a major role in:
- Increasing your sales
- Leverage sale periods and special occasions
- Setting competitive pricing
- Increasing your chances to win the Buy Box
Automate Pricing tool helps you achieve your objectives. Using the tool, you can compete to win the Buy Box. It is the Buy Now button on every product page of Amazon.in. To win it you need to compete with your competitors. The closer you stand to the Buy Box price, the higher the chances to win the Buy Box.
How to set your Automate Pricing?
Before you start your repricing you need to first identify your agenda. What do you need to reprice for? There are four rules to set your automated pricing depending on different objectives. You can choose any of them depending on your requirements:
1. Best Price Rule: This rule is set to match the best possible price on your products. Various factors play a role to decide the best price, like similar product prices, historical selling process, Buy Box eligible prices, and customer feedback.
2. Competitive Buy Box Rule: With this rule, you can reprice your SKU to win the Buy Box price. You can either keep your product price below the Buy Box price by a definite amount to match the Buy Box price or keep it above the buy box price.
3. Competitive Lowest Price Rule: Choose this rule when you want to compete with other sellers and reset your price to the lowest price available on Amazon.in.
4. Sales-based Rule: This rule allows you to set your pricing decisions based on your sales targets. The price will change depending on your product’s market performance. Say, for example, if sales are below X units, then it’ll decrease the price by Y amount or percentage.
The process of setting your automated price is quite easy. Here’s the five-step process:
Step 1: Log in to your seller dashboard. Go to ‘Automate Pricing’ under the Pricing section of the menu.
Step 2: Next you need to create your rule. Choose from the four rules discussed above. Once selected, give a name to your rule. It should be short and easy to understand.
Step 3: Now select the marketplace you’re setting the price for, that is, Amazon.in. Save and continue to the next step.
Step 4: Select your rule parameter. Here you’re defining the condition according to which your pricing will change. Amazon.in will then take the necessary action for repricing. Click on ‘Yes, I want to continue repricing’ and save the rule.
Step 5: Choose your SKU on which you want to apply the pricing rule. Enter the minimum and maximum price between which your pricing will change automatically. Once done. Click on ‘Start repricing’.
And that’s it! Within 15-20 minutes, the automated price will be active on the selected SKUs.
Benefits of Automate pricing
Saves time and energy
Manual repricing takes a lot of time and effort, affecting your productivity. Automate pricing tool replace this painful job so you can focus your time and energy on important aspects. You can also perform the automated pricing via bulk upload
if you have a long list of SKUs in your inventory.
As humans, we tend to make mistakes, especially when it comes to pricing and calculations. This tool automates the process, eliminating any chance of error. It also removes the risk of rash decisions that may negatively impact your business.
Effective & hassle-free
When you set the price manually, you have to check manually how it's working and how your competitors are performing. Not checking it may result in a loss as another seller may have priced their item even lower. This reduces your chances of sales and Buy Box. Automation removes this hassle and keeps you notified whenever there’s a change to keep you moving towards your goal.
Buy Box is extremely important for you. Winning the Buy Box means your number of sales will shoot up drastically than your competitors as most people buy products by clicking on the ‘Buy Now’ or ‘Add to Cart’ buttons of the Box. Automating your price ensures you’re in the race with a very good chance of winning it.
Automate Pricing tool is a great feature to increase your chances of sales. Not only does it use smart ways to increase your business but also makes your life easier by doing the tedious process for you. So join Amazon.in
today to start your business and use the tool to get a good head start.
Disclaimer: Whilst Amazon Seller Services Private Limited ("Amazon") has used reasonable endeavours in compiling the information provided, Amazon provides no assurance as to its accuracy, completeness or usefulness or that such information is error-free. In certain cases, the blog is provided by a third-party seller and is made available on an "as-is" basis. Amazon hereby disclaims any and all liability and assumes no responsibility whatsoever for consequences resulting from use of such information. Information provided may be changed or updated at any time, without any prior notice. You agree to use the information, at your own risk and expressly waive any and all claims, rights of action and/or remedies (under law or otherwise) that you may have against Amazon arising out of or in connection with the use of such information. Any copying, redistribution or republication of the information, or any portion thereof, without prior written consent of Amazon is strictly prohibited.