Price changes that are well-timed and on-point financially are the name of the game when it comes to staying competitive as an E-Commerce seller. These kinds of price changes occur countless times per second on Amazon, therein raising the question: is manual repricing still possible, and if so, what are the potential disadvantages of manual repricing? Here's a break down of automated versus manual repricing.
Manual Repricing and Automated Repricing Software
Manually repricing each listing on Amazon takes about eight steps per ASIN, making the process incredibly tedious for sellers. Still, a good repricer will grant a seller ultimate flexibility, and allow for manual repricing should a seller choose to do so.
If you choose to do this, remember that it's your total price including shipping that gets sent to Amazon. Within Informed.co, sellers can choose to manually reprice either individual listings, or several listings in bulk.
To set a price manually on an individual listing, open the edit listing box by clicking to the left of the check box. Next enter your manual price into the corresponding field and save it.
To set prices manually in bulk, go to the “Uploads” page in your account in the “Manage” section. Select the “Set or Update Manual Prices” template from the “Download a Template” drop down. Enter your prices and upload your file in either a .csv or .txt format.
Drawbacks of Manual Repricing
There are many reasons to avoid manual repricing. The first is simple human error. When dealing with many listings, it's very likely that you'll make an error.
The second reason to avoid manual repricing is that machines are just faster than humans. Especially since major sellers, including Amazon itself, reprice their products automatically and constantly, there is literally no way a human can keep up.
Along these lines, even if you were ready to sit at your computer and change your prices every fifteen minutes like Amazon, you'd need to recheck every price from all competitors about every ten or fifteen minutes. The chances of a team, let alone a single seller, accomplishing this are next to nothing.
You may think manual repricing will save you money, but Henry Ford showed us a long time ago that manual labor costs more than automated labor. A repricer checks competitor prices, eliminates human error, and earns you more sales at higher profit margins — for a minuscule cost compared to how much you'd have to pay someone else to do it with less accuracy.
Bridging the Gap
If you’re a seller who likes to maximize control over your listings by repricing manually, but still want the convenience that comes with using a repricer, the good news is you can have both.
A good repricer will allow you to make the highly customized strategic price changes you desire, on an automated basis.
You also get the benefit of monitoring and adjusting your prices according to your most accurate competitor data, while minimizing the risks of human error and inefficiencies of repricing by hand.
The Bottom Line
Amazon sellers who are smart and competitive know that it is essential to evaluate and reevaluate listing prices.
Ideally, your inventory will be priced to ensure that you sell as quickly as possible while maximizing your profits. However, repricing inventory can be a huge time suck if you're stuck doing it manually — not to mention that you may not be doing it as well as you should. Save yourself the trouble and use a repricer.
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