Your effectiveness in competitive selling is largely determined by the timely analyzed repricing results. M2E Pro Amazon Repricing Service provides you with a precise and comprehensive analysis of the competitive pricing.
Why is it so important to you? In simple terms, you can make better business decisions, basing on data rather than instincts. The more weighed decisions, the more effective business management, the more significant growth of the profits. The overall benefits are:
ability to provide insights into the effectiveness of your competition;
ability to highlight trends and define pricing opportunities;
ability to optimize and plan the pricing.
Take a closer look at Repricing Service Reports section. Structurally, it consists of several tabs corresponded to the certain parameter of analysis for more targeted navigation. Please see Figure 1 below.
Figure 1: Reports section
All data is presented in a suitable graphical view. The detailed charts are helpful for you to track and compare competitive data in a real-time, quickly diagnose and resolve possible issues. Analyze your pricing data over the day, week, month, and year.
Review the reports for each Amazon account or its marketplace added to the Service by switching among them. Please see Figure 2.
Figure 2: Switching of Amazon account/marketplace
Let's look at some examples of analysis.
If you refer to the Overview chart under the Achievements section, you can see the number of products and the results of their repricing.
In order to review the changes of each parameter over a period of time, click on the icon. You will be redirected to the corresponding chart.
The most important metric of Amazon seller' success is the number of offers which hold the Buy Box. To understand which factors, price or non-price, have the greater impact on getting this advantageous position, you also have to review the number of your offers that match the lowest price. Look at Figure 3 below.
Figure 3: Product achievement overview chart
In case these parameters are equal, your current pricing strategy is effective and allows you to beat the competitors. But if the 'Buy Box Winner' parameter is lower than the 'Lowest Price' one, most probably you are beaten by the non-price factors. It means that some of your competitors have higher seller ratings, feedback scores, faster delivery periods or other performance metrics. Then you should pay special attention to improving your rating as an Amazon seller.
Price changes statistics show you the number of products which have or do not have the dynamic price changes made via Repricing Service. Refer to Figure 4 below.
Figure 4: Price changes per product chart
The growing number of price changes per product points out that your competitors' activities have intensified. Take a closer look at the competitors' price moves.
In case the price is cut by competitors, you could follow them if it is reasonable for your business, otherwise, you should think on how to enhance your product/service to get a non-price advantage.
In case the price is increased, you can follow these changes for higher profit margins, but there are no guarantees you will win the sales. On the other hand, you can remain the lower prices to attract the buyers and compensate the lower margins by higher sales.
Timely checked Repricing Service analytics can prevent you from engaging in a price war. Just think how often are you forced to reduce the prices following extremely low-priced competitor? Unfortunately, some sellers prefer to use predatory pricing to drive other participators out of the market.
In order not to fall into the trap of those who play the lowball, Repricing Service guarantees the compliance with your min threshold. The monitoring of 'Match Min Price' indicator, detecting its rapid growth could help you to timely suspect the possible issue. Please refer to Figure 5.
Figure 5: Match min price chart
If you discover the low-ball player in your environment, optimize your pricing strategy to prevent the unreasonable price reducing and remain your margins. Herewith, it will be another inducement to provide the best customer experience. For the record, in terms of Amazon, this is the right way to get the Buy Box placement.
Use the Repricing Service reports to look deeper into the product price updating and find your best response to the competitors' price moves.