|Sat June 16 2012 16:43:38|
What Do You Think of Amazon Repricing Tools?
By: Julia Wilkinson
Do you use a repricing tool for your inventory on Amazon, and/or other marketplaces?
As I was writing this Sunday's Update article, "Repricing Tools Help Small Merchants Win Amazon Buy Box," it seemed every time I turned around, I heard of a new repricing service, or a repricing tool that was part of a larger suite of selling and inventory management tools.
So I am curious to know if you use a repricing service that was not mentioned in the article; or, if you use one that is, what you think of it.
In sum, it seems that a good solution for those who sell mainly on Amazon, and don't sell enough to be able to spend much on this service, is RePriceIt. Seller Thom Downing ("tchdwn" on Amazon) said he chose RepriceIt because it was the only thing he could really find for a small seller that was reasonably priced and at least kept him in the game. He sells about 100 items per month.
Other sellers, particularly those who are full-time online sellers who do thousands of dollars of sales a month, felt they needed a more robust repricing solution with multichannel features that allow them to list the same item on multiple platforms, and handle the inventory management that comes along with that.
Nathan Holmquist, who has a book about selling with Fulfillment by Amazon at www.sellfba.com, says he's currently in the process of switching from RePriceit.com to Neatoscan Inventory Manager. "Repriceit.com is a very good piece of software and it does most things that I want it to do," he says. "It's also very inexpensive. I currently have about 2,000 items in my inventory, and it only costs $15 a month. They also added some new features that allow sellers to price again FBA and non-FBA offers," he says.
He's making the switch because he wanted a repricing program that is a "little more dynamic. With Neatoscan, you can decide where you want your listing for every item. For example, you can place it 2nd,3rd,4th position on the list (or wherever you want). You can also price items based on sales rankings. So if a DVD has a very good sales ranking of under 5,000 – I can decide to price that item a bit higher for a few weeks – to see if I can make a bit more money from the sale."
He says another reason that he joined Neatoscan is to list his items on multiple marketplaces.
"For the last 5 years, I have sold 99% percent of my items on just Amazon. Starting next week, I will be listing my inventory on Half.com and eBay as well. This will be an interesting experiment because 100% of my items are at Amazon’s Fulfillment Center," he said. Fulfillment by Amazon (FBA) allows sellers to fulfill items that are sold on other channels, he explained. "For example, if I list an item on Neatoscan and send it to Amazon FBA - that book will automatically be listed on Amazon, eBay, and Half.com. If that book sells on eBay, Neatoscan will automatically tell Amazon to ship that book to my eBay customer."
So basically, he says, he will be getting his items in front of a larger audience, but he will still maintain the freedom that Amazon FBA offers by not having to ship his items directly to the customers.
I have not been using a repricer, but find that it's too hard to keep up with regularly repricing the inventory I have on Amazon.com, so I plan to start small with using one that is inexpensive and not necessarily multi-channel for now.
But I hope there are not other shoes that are going to drop with using these tools..for example, will too much of my inventory get marked down to a dollar (or less), because items of the same condition grade all got marked down by repricers as well? And what if my, say, "very good" book with a clean untorn dust jacket, is repriced below the same book graded "very good" but with no dust jacket and in worse condition? So there's a human intelligence factor that still seems to be lacking here.
I'd like to hear about your experiences with repricer tools..do you use them, and if so, where do you sell..on Amazon.com, eBay, other marketplaces? Are you happy with the service you have? Do you know of a repricer service that is not in the article chart at the bottom of the Update article? Post a comment here!