by Swati Bucha and Ramesh Kumar Burman on 09/11/2017
Competitive pricing attracts thousands of customers. It is obvious that a customer would pick up the same product for a lesser cost. However, as an online seller, it might be difficult for you to keep up with the trending price all the time. It is possible that setting up prices for each and every product might divert your focus from delivering great customer experience to trying to maintain a competitive price.
In an online business, you have to compete with hundreds of seller across India. Customer buys from the seller who is providing the best offering in terms of pricing, delivery time. Price fluctuation of a product is also higher in a marketplace which keeps you on your toes to keep a competitive price. Sellers with large catalogue need to hire a person to maintain the prices. Continuous monitoring and being competitive are the key challenges you will face when you start selling online.
To make sellers self-sufficient and productive, Amazon has launched Automate pricing tool. Automate Pricing allows you to automatically adjust prices on SKUs in your catalogue in response to events such as the Buy Box winning price, without having to revisit the SKU every time you want to change your price. This tool is available completely free of cost and does not need to constantly monitor and change prices frequently, and thus can focus on other aspects of the business, such as customers.
You create a pricing rule, set the rule parameters, and then select the SKUs to which the rule applies; automated pricing is applied only to the SKUs you designate, not to your entire catalogue. You can start and stop automated pricing rules at any time, as well as change your rules or the SKUs to which your rules apply. You control the prices by defining rule parameters, setting minimum and maximum price boundaries and selecting the SKUs on which to automate pricing.
To use this free-of-cost tool, register as an Amazon seller today. If you are already selling on Amazon, start using the tool now.