With Q4 steadily approaching along with other busy periods including Halloween, it was about time to update our Repricing structure on RepricerExpress.com (as you know, our favorite FBA Repricing Software). Previously we had 3 rules or categories that we placed our inventory in depending on how competitively we wanted to price each item. Now, we have 5.
**Want access to All 5 exact repricing settings? See details at bottom.
As you get more involved in FBA and start to grow your inventory at the Amazon warehouses, your need to further categorize your items for pricing purposes grows. I thought we could get away with just the 3 rules for a while but I was wrong. So what was the big thing that changed this mindset? Online Arbitrage with a strong emphasis in Amazon to Amazon Flips. Specifically, not being afraid to compete head to head with Amazon on any item.
FBA Amazon to Amazon Flips
Got your attention? Yes, when you begin to get good at buying low then selling the same item high on Amazon as I have (See Chris Green’s Online Arbitrage), you will become much more willing to compete against Amazon on just about any item. However, to do this efficiently you will need your Repricer to stay below Amazon and sometimes by a wide margin. How often and how wide you ask? I’m not divulging that right here however you can get our exact settings if you start using RepricerExpress yourself via our link below. In basic terms, your desire to resell that flipped item quickly will determine what settings you should use to compete against Amazon and how far below their price and how low you are willing to drop to.
When you are buying items FROM Amazon to resell ON Amazon, naturally your #1 competitor will be Amazon itself and you’ll need to factor that in strongly in your price setup. If you try to simply match their price or price just below on moderate to fair ranking items, your chances of selling that item are slim to none. You must be willing to price significantly below Amazon to get the Buy Box and have the margins to do so. This is the reason the book Online Arbitrage is such a gem because there are many ways to locate reduced priced items on Amazon successfully without much effort. If you haven’t already, get reading.
Sending in Halloween and Christmas Items Now
If you’re like us, you may already be sending in items that you’ve had sitting around since January that you are planning to sell come Halloween or Christmas time. We are trying to stay ahead of the game since we know come October and November new items will be sourced and need shipped out.
Being that I know you are a keen FBAer and realize the current prices for those items are not nearly what they will be come that time of year, how would you go about dealing with pricing now? Well, there’s 2 ways to approach it.
First way is just to not reprice at all and set the item prices at your target for that time of year then revisit them once we get closer. If it happens to sell from now until then, great! But, you’re not expecting that to happen. Another option is to set a repricing rule that deals with this issue. Why not put min prices in slightly below your target price and max the same so that once that time of year comes, you’re already good to go. Its really up to you and your comfort level in selling at a slightly lower price than your target.
The issue to remember with these types of items is this: When you add a bunch of new inventory to Amazon, Repricerexpress forces you to assign a min and max sale price for each item in order for it to begin repricing. If you have a lot of new items, the quickest way to do this is via Bulk method instead of individually. The problem with this method is that not all of your items you sent in are going to be under the same repricing rule nor have the same min/max range. You don’t want to put the same min/max for a Christmas item as a thrift store find that you’re willing to take a lesser profit on (% wise). You would not want to Bulk edit them in the same range and this would take time so instead what you can do is just choose to not reprice those items and pick/choose the items to reprice separately. If you’ve been doing this long enough you understand what I’m talking about.
There’s a reason we are now at 5 repricing rules. Each item needs its own pricing consideration, maybe more so that you originally thought. When you’re ready to grow your FBA business, its time to start repricing like the pros with a solid platform you can trust like RepricerExpress.
Free RepricerExpress Trial + Special SOS Reader Bonus
When you sign up for their free 15 day trial and are then ready to continue with their paid service, you can use the code ScanFBA10 to get 10% off of your first paid month.
As a BONUS to Scanontheside users, when you sign up to their paid monthly service using the code ScanFBA10 you will receive access to our personal settings within RepricerExpress. If having to deal with all of the settings is stopping you from getting started you can just copy our settings and away you go.
**To get this Bonus settings access, once you sign up after the free trial using the code ScanFBA10 send us an email to firstname.lastname@example.org with the email connected to your RepricerExpress account and we will confirm your signup and pass along our settings data.