What is Repricing?
Repricing means changing
the price of a product according to the changes in demand. The price can be
higher or lower. The concept takes into consideration how you track
competitors’ prices enabling you to come up with a price that works best
for you.
But when it comes to
online sellers on Amazon, repricing has a deeper meaning. Here, repricing
software is used on a pricing intelligence platform like WebDataGuru. While
online shoppers can compare prices easily on any kind of online platform,
online sellers need a more concrete tool to stay at the top of the game.
A repricing software
enables sellers to change their prices according to the competition and win a
better position on the customer’s buying list. Amazon sellers often use amazon
price monitoring tools, but they are limited to the eCommerce platform
only. Whereas, a pricing platform can offer much more than just pricing.
PriceIntelGuru is one of the leading pricing companies which offers a
comprehensive pricing intelligence platform.
Here the prices are
automatically changed throughout the day or at a time specified by the seller.
Sellers, online
merchants, and manufacturers walk on a tight rope while we talk about
repricing. You might be wondering why? Retailers usually have a strong marketing
plan for retail businesses but lack a concrete pricing
strategy.
Pricing is the
cornerstone of every business. We all agree that it is the bottom line that
businesses need to ensure great profitability.
No comments:
Post a Comment