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:2. Create a rule
- Choose a Default Repricing Rule
- Create a New rule
- Enter Rule, Min Price, Max Price
- Specify Buy Box Settings
- Specify Repricing Settings
- Related articles
Feel free to Check out our BQool Repricing Central Getting Started Tutorial - How to Set Up BQool Repricer tutorial video.
1. Choose a Default Repricing Rule
BQool provides 4 default rules. Two default rules are set to compete against the current Buy Box winner, while the other two are set to compete against the Lowest price.
In terms of strategy, “Maximize Profit” rules are designed to undercut the targeted seller by one penny and to raise your price once the Buy Box is yours.
Conversely, “Stay Competitive” rules are designed to be more aggressive and to guarantee that you are always competitive with your price, even when you own the Buy Box.
Essentially, if you don't like to undercut in a competition, please assign 0 value to the action field when competing with Buy Box Price.
To learn more about how to craft a customized Repricing Rule, please visit: How to Create a Rule.
2. Create a rule
Users can create a customized Repricing Rule to based on the current business operation goal. Navigate to Repricing Central > Marketplaces > Repricing Rules.
Users can click Add New Rule to customize the Repricing Rule along wth the Repricing Schedule.
3. 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:
There are different ways to setup Min and Max price in bulk or even based on certain ROI or Profit margin. Please refer to the following support articles for more information.
4. 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: Non-Featured Merchants are not eligible for winning the buy box.
5. Specify Repricing Settings
When you're not in the Buy Box, you can select to compete with either the Lowest Price or the Buy Box Price.
Compete with Buy Box PriceYou have the option to compete directly versus the Buy Box Price to adjust your price. This does not guarantee winning the Buy Box as there are many other factors involved, but it gives you a good chance to share the rotation or staying in More Buying Choices.
Compete with Lowest Price
This rule will instruct the system to target the lowest price eligible competitor and adjust Your Price in accordance with the given repricing response. It's worth mentioning that the rule of "Compete with Lowest price" won't be affected by the Buy Box suppressed scenario since the system will only target the lowest price offer and keep repricing activities going.
If you want more options for competing with different sellers under different scenarios, proceed to the Advanced Settings. Learn more about Advanced Settings.
***Note: When first setting up a Seller SKU in Seller Central, it is paramount to create a unique SKU name for your listing without abnormal symbols.
***Note: Before starting repricing, please ensure that you have paused the repricing activities from other repricer to avoid potential pricing conflict.