Most customers tend to associate pricing with credibility of the seller, which in turn helps them trust you. If the prices are set very high, customers might not buy from you. If the price is set too low, they might think the product is not genuine or damaged. Additionally, the price should match the competitors, so you don’t lose out on your customers to them.
Considering all these, it is a good practice to modify the price of your product regularly, as it has a huge impact on the product’s demand as well as its sales. Amazon Seller App gives you the option of manually setting price of your listings based on market trends and analysis. Listed below are the different pricing opportunities on the Amazon Seller App.Compare to Buy Box
: Listings that are priced not more than 5% above the buy box price appear under this tab. The listings are ranked by estimated sales potential and a slightly lower price is suggested. If you choose to accept it, you can update the same through the Seller App.Sales Conversion
: If there are products in your listing that are garnering a views but not sales in the last 7 days, updating the price of these products may help in securing a buy box spot. Sales conversion essentially helps in pushing products that customers are interested in, but do not buy due to price constraints.Low Price Opportunities
: Listings priced more than 10% higher than the potential lower price are grouped under the Low Price Opportunities tab. If a product is priced more than 10% higher than your competitor’s, customers will invariably buy from them. Staying ahead of competition is always a great idea for the growth of your business.
Potential Lower Price is calculated based on a range of factors including historical selling prices, recent buy box eligible prices, and input from customers for your products. Amazon also provides you the opportunity to completely Automate Pricing
, instead of doing it manually each time. By using the Pricing feature, you may be able to get better sales conversions for your products.
To avail this and numerous other benefits of being an online seller, please register yourself here
. Additionally, you can download the Amazon Seller App for Android
, to run your business from practically anywhere.