There is the common perception that repricing software will only lower you price, and start a price war with your competitors. Under some situation with the right repricing rule, we can actually help you to reprice up.
- Situation 1: Buy Box setting - "Raise my Buy Box price to maximize profit"
This Rule will take effect when you are in the Buy Box, and it allows you to increase the price to be closer to the closest competitor that has higher price. In other words, the rule will shrink the pricing gap between you and the higher priced seller while trying to maintain the Buy Box position.
Note: Buy Box setting will reprice against all Buy Box eligible merchants
- Situation 2: Advanced Settings - "When Adjusted Price equals or is below Min Price"
Some sellers would prefer not to engage in a pricing war, and would like to price up and wait until the low-priced seller to sell out.
BQool users can utilize the Customized Your Price option under each Advanced Settings for "When Adjusted Price equals or is below Min Price" scenario. It can allow the user to customize its price higher when the competitor is pricing too low and causing the calculated price to be equal or below your Min price.
The repricing option allows you to choose the following price adjustment strategies for the desired repricing outcome.
- Competitor's Price + $/%
- Your Min Price + $/%
- Your Max Price - $/%
Note: if you have decided to use this option you will need to be very precise on the percentage and the Min/Max price.