I get a lot of questions regarding my repricing settings. I currently use Repriceit.com which is affordable and does most of the things I would like. Here's a screenshot of one of my settings.
In this case, I'm matching the low price for my condition (whether they are FBA or not). If Amazon is selling the product, I automatically price 10% below them. My minimum price is $9.95.
I also use repriceit.com for my FBA inventory. You are comparing your FBA offers against both FBA and non-FBA items. If I understand your format correctly then you re-price only at $3.99 higher than the lowest MF price. Is this correct? Or are you excluding some of your FBA items. I use intelligent re-pricing and set it to compare only against other FBA offers. Its like throwing darts hoping something will work…Thanks for sharing.
Hello,
Yes, I price $3.99 higher than the lowest MF price for my condition or better. I use this set-up mainly for my low to medium priced books. For valuable books (like textbooks), I exclude those from the repricer and price those myself. I tried the comparing FBA to FBA, but it didn’t seem to work properly. This may be because Repricers can’t see all the FBA data.
“This may be because Repricers can’t see all the FBA data.”
Wow, never thought of that, much like the scout apps – data sucks. I turned OFF my repricer 10 days ago as I was thinking of cancelling it, and wanted to do some manual repricing of old inv.
Guess what, my sales doubled from previous 2 weeks! And June should be a good book sale month from colleges. Pausing my repricer, saved my June stats!
Interesting. Let me know how it goes without the Repricer.
Nathan,
Just to clarify, you are saying that the repricing settings in this post are for your low to medium priced stuff?
So it seems if you had an item where the lowest MF price was below $9.95, then these settings drop you to $9.95. But if your inventory is anything like mine, you have hundreds or thousands of books in the $10 to $15 range, and I know from experience that these can easily be priced $4 to $6 more than the low MF price and sell. I have lots of sales for $12 where there is a MF price of $6 to $8, for instance.
Is this just a hit you are willing to take to move the items? One thing that seems missing from the options for these settings is the ability to price a certain amount or % above the low MF price. But you said you DO price $3.99 above the MF price. Am I missing something?
Hi David,
Repriceit automatically adds the $3.99 to the lowest MF seller. So, if you are an FBA seller and the lowest price is $5 plus $3.99 shipping, it will price your book at $9.99.
This is my standard format. I will often make a few tweaks to this. For example, sometimes I will price 10-20% higher than the lowest MF seller for the first few months. I’m open to any suggestions as well.
In the past I’ve seen where you’ve mentioned that you also compare to the buy box and also run pricings based if the book is +90 days old, +180 days and so on.
I assume that means you also run those separate repricing templates daily, spaced like an hour apart?
I’m always trying different things. Yes, you can set different templates. I have a template where my minimum price is $8.95 if the inventory has been sitting for 1-2 years. And another where the minimum price is $7.95 if the inventory has been sitting for over 2 years.
Hi Nathan,
First, thank you for your articles, I find them helpful.
I was playing with the reports that Amazon has available. Have you found a report or a filter that you can run on a report to isolate textbooks from other books for your repricing needs? Thanks in advance.
-David
Hi Nathan,
Thanks for sharing your repricing scheme. I am wondering, if you are constantly repricing your books to equal the lowest price, then you never really become the lowest price? So your offer is always alongside another seller at the same price and condition. It turns out that a buyer is faced with choosing between your offer and the similar one. Are you hoping they will then decide based on description/feedback, or what? I’ve always wondered about this.
Nathan
You and Peter are always taking about keeping FBA pricing value higher than MF
But then today you speak about lowering every thing to 795 or 895
So I am confused price high or use reprises and bet competitive for the sale.
Do you have a time line.
Say pricee high for 90 days them let the reprised at it
I have used the reprised all it want to do if deduct 15 to 25 bucks per book and bring them to 9.95 default min.
As penny sellers destroy the market
Your thoughts
Thank for all you do and share
Pat
I always price based on the current FBA and FBM sellers. When I’m talking about pricing books at $9.95 that is high because many of those books have a merchant fulfilled price of 50 cents or so. Yes, FBA items can sell at higher prices, but many times you have to wait longer for the sale. It’s really up to you. There is no one way to do things. There are many strategies.
HI Nathan,
Are there any video tutorials on using RepriceIt? I’m a little confused as to how this thing functions.
Hi Erol,
Did you find any videos on repriceit? I am feeling the same confusion. And the repriceit guy does not seem rospond very quickly to presales questions.
Thanks for the article, came across it as I’m looking for optimum settings.
I am trying to set up the UK one, but the settings on their FAQ is for the US. I emailed a few hours ago and still not received a reply, I hope it’s as a good as you say it is because waiting around on a Friday night for an answer knowing I’m missing valuable sales is killing me 🙁
I’m having a hard time find any information on this subject. I’m really surprised…