One of the most common questions that Amazon sellers ask is this:
Is there really a need to reprice products once the listings go online?
It may seem like extra work, but for seasoned sellers, the simple answer is yes.
That’s if they want to stay ahead of the competition.
Simply put, repricing your inventory gives you an opportunity to sell your items at prices that shoppers are willing to pay for.
Although the idea or repricing may seem a bit overwhelming, it isn’t rocket science. You just need to find a repricing tool that will allow you to work smarter, rather than harder.
In this article, we’ll discuss how ChannelMAX, arguably one of the best Amazon repricing tools in the business, can help you take control of your pricing strategy and generate more sales for your Amazon store.
What is Amazon repricing?
Before we delve deep into discussing ChannelMAX, breaking down Amazon repricing into its barest details is in order.
One way for FBA sellers to increase their profit margin is to constantly change the prices of their products. While it may seem impractical to try to sell products at a lower price, it’s one of the most effective ways to convince shoppers to buy from a specific store.
But how does this work exactly?
Let’s say there are a hundred other stores on Amazon that sell the exact same blender that you’re selling in your store. In order to get more orders, you’ll try to offer the blender at a much lower price than your competitors.
But unfortunately, you can’t sell those blenders at $1 a piece without going broke. You still need to make sure that you have a healthy profit margin on top of the taxes and shipping cost that you’ll need to pay for every sale.
Now, imagine that you are offering hundreds of products, aside from your blender, in your Amazon store.
It would be impossible to keep tabs on every single listing that you have!
Luckily, this is where ChannelMAX comes in.
Don’t miss out on sales and profit with ChannelMAX!
ChannelMAX is an online selling management software that is specially designed for Amazon FBA store owners.
With a growing client base of 1000+ sellers, ChannelMAX is perfect for sellers looking to boost their sales with perfectly executed pricing strategies.
ChannelMax is the product of 11+ years of repricing experience so you know that it can simplify the complexity of Amazon pricing and give you results without breaking Amazon guidelines.
As a matter of fact, it’s one of the few repricing software that’s listed on the Amazon solution page!
So, how does ChannelMAX help sellers sell more on Amazon?
With its powerful algorithmic logic and sales intelligence that allows sellers to be featured on the BuyBox.
The BuyBox is what Amazon sellers consider as prime real estate on the marketplace.
And in order to land the best spot where buyers are more likely to see you, you need to sell your products at just the right price.
Features of ChannelMAX
ChannelMAX has an intelligent default pricing strategy that decides the best possible price for your listing to appear in the BuyBox.
The repricer takes into account the type of listings that your FBA SKUs are competing with and decides how it should react.
ChannelMAX relies on big data to figure out how to price your products. It doesn’t let it stay in one place.
ChannelMAX offers a multi-inventory system like no other.
It doesn’t just catalog your products on Amazon, it also keeps track of products from other selling venues.
It also helps you see the stock history of every single item from a central inventory system.
If an item gets a bid or sells out, ChannelMAX will automatically delist it from all its selling venues.
ChannelMAX knows how hard you’ve worked on finding the perfect FBA products. Therefore, it just makes sense to try to sell as much inventory as you can through different platforms!
The system allows you to list items in other places like eBay, where you won’t have to pay for a storage fee.
It automatically converts eBay sales to FBA via the Multi-Channel Fulfillment feature.
ChannelMAX gives you all the information you need to see how your competitors ASINs are priced on Amazon.
It delivers data on different pricing attributes like lowest FBA price, lowest nonFBA price, BuyBox price, number of sellers, and sales rank. You can search up to 36k ASINs per hour.
How to develop a default repricing strategy using ChannelMAX
As your inventory grows, it becomes more challenging to manage your product listings manually.
It doesn’t just suck a lot of your time and energy, but it can also cut into your profits if, let’s say, you’re going to hire a virtual assistant to do it for you.
Not exactly the ideal set-up if you’re trying to streamline your operations.
However, ChannelMax helps you figure out the best pricing for your listing that will help you win the BuyBox.
“How,” you ask?
By automatically repricing your listings to get the BuyBox at optimum price is how!
The great thing about using the default repricing strategy is that it frees you from having to do the heavy lifting (and thinking) yourself.
All you have to do is follow these easy steps:
First, in the ChannelMAX dashboard, go to “Repricing model” and click on the default model. Second, enable ChannelMAX to feed prices to your Amazon Seller Central account. Click “yes” to use CMAX algorithmic repricing.
Next, decide on rules that you want your SKUs to be repriced against FBA, nonFBA, and other Amazon listings. Remember, your minimum price can’t go lower than your floor price and your maximum price can’t go higher than your ceiling price.
Click the “Home” tab to implement your default repricing settings.
I know it’s hard to follow the directions without visual aids, but here’s a video to provide you a much better walkthrough for using ChannelMAX:
ChannelMax pricing ranges from $34.99 to $499.99 depending on the number of SKUs you want to keep track of.
You get unlimited access to ChannelMax features like algorithmic repricing, BuyBox history, Price history, and Sales rank history no matter what plan you choose.
And the best part is you don’t have to sign any contracts or give any commissions to take advantage of ChannelMAX!
ChannelMAX has other features that you can enjoy for an additional fee.
If you want to list your FBA products to eBay from Amazon MCF and vice versa, ChannelMax will automatically convert every 100 listings for a one-time fee of $50.
It can also sync all your inventories across different platforms to make sure that you have just enough inventory to earn a profit. A useful feature that will only cost you $24.99 per month.
ChannelMAX reviews: Pros and cons
As for the pros and cons of ChannelMAX, here’s what ChannelMAX clients have to say.
- ChannelMAX has an intuitive web-based interface that makes it very easy to use. Novice sellers can sit back and relax once they understand how the different features work together to get them more sales.
- Compared to other Amazon repricers, sellers think ChannelMax is one of the more affordable options available on the market today.
- Customer support is very responsive and their tech team is always available to help sellers deal with even the most complex pricing issues.
- Some sellers have reported a few instances when ChannelMax has been buggy. “Unexpected Error” messages may sometimes appear while working the software.
- FBA fee estimates are not always accurate or updated. Some sellers have noticed the FBA fee to be twice the amount of what it should be.
Verdict: Is ChannelMAX worth it?
If you only have a few FBA products in your catalog, pricing your products manually might be manageable.
But if you’re trying to keep tabs on hundreds of products at a time, then you definitely need to invest in an automated program that will take care of the nitty gritty for you.
ChannelMAX doesn’t just prove its worth in features, but it also helps you improve your workflow so you can get more done with less time.
This is what makes ChannelMAX a powerful repricing software for FBA newbies and veterans alike.