How to Create Repricing Strategies (Amazon)

Creating and Accessing Repricing Strategies For Amazon Marketplace

Step 1: Click the Icon Shown in the Image Below

• To create and access your repricing strategies, click on the icon shown in the image below.

Step 2: Click on the "New Strategy" Button

• On the repricing strategies page, you will see a blue button at the top right corner of the page that says “New Strategy”. Click on this button to create a new strategy.

Step 3: Name Your Strategy

• After clicking on the "+ New Strategy" button, you will be prompted to name your strategy.

Step 4: Choose Your Marketplace

• Next, choose the marketplace you are selling on.

Step 5: Choose Your Competition Strategy

There are five ways to compete against any seller on Amazon:

• Lowest price: Compete against the lowest price on the listing.
• Buy Box: Use this strategy to compete against the seller whois currently in the Buy Box.
• Lowest FBA: Use this strategy to compete against the lowest FBA seller on the listing.
• Lowest FBM: Use this strategy to compete against the lowest FBM seller on the listing.
• Specific sellers: If you want to compete against specific sellers, you can do so with this strategy.

Enabling Switches to Ignore Competitors

To further refine your competition strategy, Flashpricer also offers switches to enable you to ignore certain competitors. These include:

• Ignore AMAZON as competitor
• Ignore non-buybox-eligible competitors
• Ignore competitors with feedback score lower than a certain percentage
• Ignore competitors with handling time higher than a certain number of days
• Ignore myself as competition
• Ignore specific seller ids:

Note: The amount of options you can ignore will change based on the competition strategy set. For example, choosing to compete for the Buy Box will only allow you to ignore Amazon as a competitor, competitors with handling time higher than a certain number of days, and specific seller IDs.

Step 6: Set Your Repricing Rules

When it comes to repricing strategies, being specific can give you an edge over your competitors. In this section, you have the opportunity to customize your repricing strategy based on how you want to compete with other sellers on the marketplace.

Once you have chosen your main repricing strategy, you can further refine your approach by choosing from the following options:

• Match: This option ensures that your prices match the prices of your competitors. If a competitor lowers their price, your price will also be lowered to match theirs.

• Add: This option allows you to increase your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to add $1 to your prices compared to your competitors' prices.

• Subtract: This option allows you to lower your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to lower your prices by 5% compared to your competitors' prices.

Note: When using repricing strategies like subtracting or adding to your prices, you have the option to choose whether you want to subtract or add a certain dollar ($) amount or percentage (%) to your prices.

• If you choose to subtract or add a dollar ($) amount, you will need to enter the exact number you want to subtract or add. For example, you could choose to subtract $1 from your prices compared to your competitors' prices.

• If you choose to subtract or add a percentage (%), you will need to enter the exact percentage you want to subtract or add. For example, you could choose to subtract 5% from your prices compared to your competitors' prices.

Within this section you also have the ability to choose how you compete when:

• when competition is Amazon
• when competition is FBA
• when competition is specific seller ids

The following options are available for each of the above competition settings:

• Match: This option ensures that your prices match the prices of your competitors. If a competitor lowers their price, your price will also be lowered to match theirs.
• Add: This option allows you to increase your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to add $1 to your prices compared to your competitors' prices.
• Subtract: This option allows you to lower your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to lower your prices by 5% compared to your competitors' prices.
• Set to min: This option will automatically set your cost to the minimum price specified within the strategy.
• Set to max: This option will automatically set your cost to the minimum price specified within the strategy.
• do not reprice: This option means that a particular item or product should not have its price changed or adjusted.

Example:

When there is no competition:

There are 3 options to choose from when there is no competition:

• Set to min: This option will automatically set your cost to the minimum price specified within the strategy.

• Set to max: This option will automatically set your cost to the minimum price specified within the strategy.
• Do not reprice: This option means that a particular item or product should not have its price changed or adjusted.

Note: If you have your Competition section set to buy box then you will have additional settings (see below):

 

When buybox is suppressed:

• Match: This option ensures that your prices match the prices of your competitors. If a competitor lowers their price, your price will also be lowered to match theirs.

• Add: This option allows you to increase your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to add $1 to your prices compared to your competitors' prices.
• Subtract: This option allows you to lower your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to lower your prices by 5% compared to your competitors' prices.
• Set to min: This option will automatically set your cost to the minimum price specified within the strategy.
• Set to max: This option will automatically set your cost to the minimum price specified within the strategy.
• Do not reprice: This option means that a particular item or product should not have its price changed or adjusted.

If you choose add, subtract, or match when the buy box is suppressed then you will also have the ability to choose who you want to compete against. Here are the options:

• Lowest price
• Lowest FBA
• Lowest FBM

From here you can select how to compete:

• Match: This option ensures that your prices match the prices of your competitors. If a competitor lowers their price, your price will also be lowered to match theirs.

• Add: This option allows you to increase your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to add $1 to your prices compared to your competitors' prices.
• Subtract: This option allows you to lower your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to lower your prices by 5% compared to your competitors' prices.
• Set to min: This option will automatically set your cost to the minimum price specified within the strategy.
• Set to max: This option will automatically set your cost to the minimum price specified within the strategy.
• Do not reprice: This option means that a particular item or product should not have its price changed or adjusted.

Step 7: When you’ve acquired the buy box

There are a few options:

• Do not reprice: This option means that a particular item or product should not have its price changed or adjusted.
• Don't lower my price: This option will follow your main repricing strategy upwards towards the next closest competitor. For instance, if you hold the buy box at $20.00 and your nearest competitor is priced at $25.00, and your primary repricing strategy involves subtracting $0.50, then our system will raise your price to $24.50. This adjustment will only occur if there are no competitors priced lower than you when you are in the buy box.
• Algorithmically optimize price (Growth plan and above): This option means that the system will gradually increase your price until it finds the most favorable price point that still allows you to maintain the buy box against your competitors.

Step 8: When your item is out of stock

Define the strategy for what to do when your item is out of stock. Here are the options:

• Match: This option ensures that your prices match the prices of your competitors. If a competitor lowers their price, your price will also be lowered to match theirs.

• Add: This option allows you to increase your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to add $1 to your prices compared to your competitors' prices.
• Subtract: This option allows you to lower your prices by a certain dollar amount or percentage compared to your competitors' prices. For example, you could choose to lower your prices by 5% compared to your competitors' prices.
• Set to min: This option will automatically set your cost to the minimum price specified within the strategy.
• Set to max: This option will automatically set your cost to the minimum price specified within the strategy.
• Do not reprice: This option means that a particular item or product should not have its price changed or adjusted.

Step 9: Set Your Minimum/Maximum Pricing

• Choose how to calculate your minimum and maximum pricing. You can either manually set min and max prices or calculate them by return on investment (ROI), profit margin, or fixed profit

Manually set min and max prices

• By selecting this option you'll have to manually specify the minimum and maximum selling price for each listing in the "Products" tab or upload these parameters via an upload. This gives you granular control over the min and max prices for each individual listing in your catalog.
  
  

Calculate by Return on investment (ROI)

When the min price is set to 20% and the max price is set to 80%

Minimum price:

• example Item Cost:$20.00
  Marketplace Fees (15%):$4.06
  Total Cost:$24.06
  Minimum selling price:$27.06
  Profit at minimum price:$3.00

Maximum price:

• example Item Cost:$20.00
  Marketplace Fees (15%):$4.41
  Total Cost:$24.41
  Maximum selling price:$29.41
  Profit at maximum price:$5.00

Calculate by Profit Margin

When the min price is set to 20% and the max price is set to 80%

Minimum price:

• example Item Cost:$20.00
  Marketplace Fees (15%):$4.29
  Total Cost:$24.29
  Minimum selling price:$28.57
  Profit at minimum price:$4.28

Maximum price:

• example Item Cost:$20.00
  Marketplace Fees (15%):$5.00
  Total Cost:$25.00
  Maximum selling price:$33.33
  Profit at maximum price:$8.33

Calculate by fixed profit

When the min price is set to $20.00 and the max price is set to $80.00

Minimum price:

• example Item Cost:$20.00
  Marketplace Fees (15%):$6.18
  Total Cost:$26.18
  Minimum selling price:$41.18
  Profit at minimum price:$15.00

Maximum price:

• example Item Cost:$20.00
  Marketplace Fees (15%):$7.94
  Total Cost:$27.94
  Maximum selling price:$52.94
  Profit at maximum price:$25.00

 

Do not reprice below Minimum Advertised Price (MAP) if provided

 

Step 10: Create Your Strategy

• When you have finished setting up your repricing rules and minimum/maximum pricing, click the blue “Create Strategy” button to save your strategy. Once the strategy is saved, it will populate on the strategies page and you will be able to assign that strategy to any listing within your account

Step 11: Edit, Duplicate, or Delete Your Strategies

• You have the option to edit, duplicate, or delete your strategies by clicking on the "Actions" dropdown menu on the repricing strategies page.
• All listings will be assigned to your default strategy. You can select your default strategy by clicking the three dots under the “actions” column on the repricing strategies page.

For additional questions about repricing strategies please email [e-mail]