Getting Started: Repricing Central - Updated!

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Getting Started: Repricing Central

To begin repricing for a listing, you must specify a rule, a minimum and a maximum price. The rule designates how BQool will reprice your products, and the minimum and maximum price sets floor and ceiling parameters for price adjustments.

Follow the steps below to begin repricing:

  1. Create a rule
  2. Fill out the form
  3. Specify Buy Box Settings
  4. Specify Repricing Settings
  5. Enter Rule, Min Price, Max Price
  6. Profit Calculator
  7. Related articles

Or Check out our How to quickly set up repricing tutorial video


1. Create a rule

Navigate to Repricing Central > Marketplaces > Repricing Rules.


 

Then click Add New Rule.

 


2. Fill out the form

  • Rule Name: name the rule for your own reference.
  • Rule Description: include information about the rule.

 


3. Specify Buy Box Settings

Set how you want to adjust Your Price when your listing is in the Buy Box.
When you're in the Buy Box, this is the ONLY setting that will be used.

 

Note: The Buy Box Settings ignores Non-Featured Merchants.

 

Lower or raise my Buy Box price

This setting operates in two steps:

  1. Check if you are the lowest price. If you are not, this setting will lower your price by the specified amount.
  2. If you are the lowest price already, it will check if your price can be raised. If your price can be raised, then this setting will raise your price by the specified amount.
Example 1:
Competitor 1: $14.00
(Buy Box) You: $15.00
Competitor 2: $16

The setting will check if you are the lowest price. You are not, so it will lower your price.
The lowest-priced competitor is $14. You will be repriced to $13.99.

Example 2:
(Buy Box) You: $13.99
Competitor 1: $14.50
Competitor 2: $16.00

The setting will check if you are the lowest price. You are, so it will then check if your price can be raised. Competitor 1 raised their price, and the Buy Box Setting will allow you to follow the competition back up.
The next highest competitor is at $14.50. Your price will be raised to $14.49.

 

Raise my Buy Box price to maximize profit

When you are in the Buy Box, it will adjust Your Price to a cent less than your next competitor (i.e. Competitor's Price - 0.01). This is meant to maximize your profit margins.

Example:
Competitor 1: $14.00
(Buy Box) You: $15.00
Competitor 2: $16.00

Your closest competitor is selling at $16.00. Your Price will be raised to $15.99.

 

Lower my Buy Box price to stay competitive

This will find the lowest price, and adjust Your Price to one cent less (i.e. Competitor's Price - 0.01). This is a very aggressive strategy meant to keep you in the Buy Box rotation for as long as possible.

Example:
Competitor 1: $14.00
(Buy Box) You: $15.00
Competitor 2: $16.00

You are in the Buy Box even though you don't have the lowest price. The lowest price is $14.00. Your Price will be lowered to $13.99.

 

Do not change my Buy Box price

When you're in the Buy Box, no repricing will occur.

 

Disable Buy Box Settings

Replace Buy Box Settings with Repricing Settings. You will run Repricing Settings even when you are in the Buy Box. 

 

When Adjusted Price is above Max Price

In the event that the Buy Box Settings would have raised your price beyond the Max Price, use this setting to choose what you would like us to do.

 


4. Specify Repricing Settings

When you're not in the Buy Box, these are the settings that will be used.

Choose Competitor(s)

Choose who to reprice against. Check the competitors you want to include in repricing.

When Competitor is above Min Price

Choose how to compete when your competitor's price is greater than your Min Price.

  • Competitor's Price +/- value: set Your Price according to your competitor's price.
  • Min Price + value: set Your Price according to your Min Price.
  • Max Price - value: set Your Price according to your Max Price.

 

Example:
You set the rule to < Competitor's Price - 0.01 value >.
Competitor: $15.00
You: $18.00

Your competitor's price ($15.00) is greater than your Min Price.
Your Price after repricing is < $15.00 - 0.01 = $14.99 >.

 

When Competitor is below Min Price

Choose how to compete when your competitor's price is less than your Min Price.

  • Use Auto Compete: Auto Compete actively finds the next lowest competitor and applies the corresponding Repricing Setting. You are able to compete with up to 20 competitors.
    Learn more about Auto Compete
  • Use Min Price: set Your Price to Min Price.
  • Use Max Price: set Your Price to Max Price.
  • Do Not Reprice: leave Your Price unchanged.
  • Customize Your Price: adjust Your Price according to your Competitor's Price, Min Price, or Max Price.

When Competitor equals Min Price

Choose how to compete when your competitor's price equals your Min Price.

  • Use Auto Compete: Auto Compete actively finds the next lowest competitor and applies the corresponding Repricing Setting. You are able to compete with up to 20 competitors.
    Learn more about Auto Compete
  • Use Min Price: set Your Price to Min Price.
  • Use Max Price: set Your Price to Max Price.
  • Do Not Reprice: leave Your Price unchanged.
  • Customize Your Price: adjust Your Price according to your Competitor's Price, Min Price, or Max Price.

No Competition

Choose how to adjust Your Price when you have no competition.

  • Use Max Price: set Your Price to Max Price.
  • Do Not Reprice: leave Your Price unchanged.
  • Customize Your Price: adjust Your Price according to Your Price, Min Price, or Max Price.

When all Competitors are below Min Price & above Max Price

When there are no competitors found between your Min and Max price. 

  • Use Max Price: set Your Price to Max Price.
  • Use Min Price: set Your Price to Min Price.
  • Do Not Reprice: leave Your Price unchanged.

Min Price Protection Default Settings

The Min Price Protection Default Settings allows you adjust Your Price in the event that your rules try to reprice below your set Min Price. You can set it to:

  • Use Min Price: set Your Price to Min Price.
  • Use Max Price: set Your Price to Max Price.
  • Customize Your Price: adjust Your Price according to your Competitor's Price, Min Price, or Max Price.

Note: If the end value reflects a price lower than your Min Price, then Your Price will instead default to Min Price.

 

If you are satisfied with your rule, click Save to create the new rule.
If you want more options for competing with different sellers under different scenarios, proceed to the Advanced Settings. Learn more about Advanced Settings.

 


5. Enter Rule, Min Price, Max Price

Before automatic repricing for a listing can begin, you must specify the Rule, Min Price, and Max Price for the listing.

  • Rule: This is the rule the listing will adhere to for repricing.
  • Min Price: This will be the minimum price for the listing. You cannot and will not reprice below Min Price.
  • Max Price: You will not reprice above Max Price.

 

After Rule, Min Price, and Max Price have been specified, repricing will automatically begin. A listing that has repricing enabled will have the following icon: 

 


6. Profit Calculator 

Note: this is an "estimation" of the total of your Amazon selling cost and profit margin. 

You can utilize the Price Calculator to figure out what your Min and Max Prices should be. Click on the calculator icon under the Min Price or Max Price column to open the calculator interface.

     

 The Price Calculator shows the following information:

  • Fulfillment: there will be an FBA or FBM icon indicating the fulfillment type for this listing.
  • Product Cost: the combined cost of the product. This should be the same figure as the number in the Cost column.
  • Actual Shipping Cost: if the listing is FBM, you can enter the actual shipping cost here.
  • Amazon Referral Fee: Amazon Referral Fee is dependent on the listing category and based off of the MWS Fee Estimate Report. Essentially this is Amazon's estimation, so it is not always 100% accurate.
  • Variable Closing Fee: if Amazon closing fee applies, it will appear here.
  • FBA Fulfillment Fees: if the listing is FBA, Amazon Fulfillment (FBA) fee is shown here.

When you have entered Product Cost ( and Actual Shipping Cost for FBM listings), press Enter or click the reload icon to go to process with the calculation. 

You can either:

  • Input a Min or Max Price, and hit Enter to see what your profit margin or ROI would be,

OR

  • Input what profit margin or ROI you wish to achieve and hit Enter to see what your min and max prices need to be.

After you click the reload button all three fields will update. When you are done editing your min or max price, click Save. Your min or max price will be saved in Repricing Central.

    

 


7. Related articles

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