So you’ve been enjoying great sales thanks to the Amazon Repricer behind Seller Dynamics and you’re looking to see if you can squeeze a little more onto the bottom line – so how can you do it?
The flexibility of the Amazon Repricer inside Seller Dynamics means that there is always scope to adjust the margins you are making. The system allows you to try things out in a number of different ways but let’s have a look at how you can do better by examining the max margin.
So first things first – is your maximum margin too high? Think about that for a second… supposing you have no competitors on Amazon (and yes it can happen) , your price will happily float to the top of the allowed range. Now that’s great if you’re selling at that price – but what if you’ve been a little careless and the maximum margin is quite simply ridiculous.
So keep an eye on the items that have “max’d out” and the related sales volumes at that price. Are you being over ambitious?
Because the Seller Dynamics Amazon Repricer allows you to create multiple “Pricing Profiles” you can set up a new profile for a range of SKUs with a reduced maximum margin. That means that you can reduce your maximum margin on a targeted number of items without damaging the sales of other items.
And of course the contrary is true – suppose your maximum margin is too low. When the competition falls out of the market if your sales continue at an impressive rate then the question becomes “should you try adding a few more pennies to the price by adjusting the maximum margin up”.
It only takes a few minutes to set up a new profile and as long as you are diligent enough to monitor results you’ll be able to assess where you can boost your sales that little bit further.