When creating a repricer rule you have an enormous amount of options available to you so that you can craft the strategy that best suits your business.
Need help understanding the repricing rules terms? Skip ahead to the Glossary
How to create a repricing rule
Steps for creating a repricing rule:
- Select the Repricing Rules tab on the left hand side of your Repricer.com dashboard.
- Click on the Create a Repricer button on the top right.
- Name your repricing rule and click is active.
- In the Default Pricing Rule input whether you want to be above or below the competition and by what amount or percent. This will form your most basic rule settings.
- You can then choose to set your Min and Max price manually or based on Net Margin, Cost Price or RRP.
Once you've set up your repricing rule you can create competitor rules.
Automatically assigning min and max prices
Instead of manually inputting min and max prices you can create pricing strategies that will automatically calculate min and max prices for your products. Using min and max inputs allows you to create complex cost based selling strategies for Amazon. You can find out more about cost based repricing here. You can use different input options for your min and your max. For example, you may want to use Net Margin % for their minimum so that you can always make a certain amount of profit, but you may want your max to be a constant specific value based on RRP.
Get started quickly with repricer rules templates
There are a number of pre-set strategies that allow you to quickly get set up. Click the dropdown arrow on the right of the Create a Repricer button. This will reveal a tab which says Create a Repricer from Template. You can find out more on how to use repricing templates here
Repricing Rules Glossary
The repricer rules dictate your repricer’s default behavior- the repricer’s primary characteristics.
Min and Max pricing
You can choose to manually input min and max prices for every product in the product section of your dashboard. Alternatively, you can choose to create a pricing strategy that your repricer will implement for you. Whatever your decision, the min and max prices you choose will always be respected by your repricer.com rules. So if for example, a rule would normally push your price down to $99 but your minimum price is set at $100, the repricer will move your price to $100 and no further. You can base your min and max prices on a number of criteria, which are explained below
Repricer basic info
*For the below-described min and max pricing strategies to work you should firstly upload relevant data by using the CSV template found in the Imports section.
SKUs using this repricer: Here you can see how many products have been assigned to this repricing strategy. If you would like to review these products you can click on the number see which products are having the rule applied.
Default Pricing Rule: The repricer will revert to the default pricing rule if none of the competitor rules apply.
Net Margin %: Net Margin is calculated based on the costs that you input. Your max and min inputs here will be the profit you want in percent. For example, setting your min price to "Net Margin % above > 10%" is equivalent to saying "I'd like at least 10% of my selling price to be profit". If you want more information on net margin pricing, you can find out what is net margin repricing here.
Formula for net margin: Selling price - All costs*
*All costs = Unit Cost + Listing Fee Amount + Shipping Cost + Pickpack Cost + Estimated FBA Fee + Variable Closing Fee
Net Margin Value: Works in the same way as Net Margin %, except instead of inputting a % you input a currency value. Think "I'd like at least €5.00 of my selling price to be profit".
Cost Price %: Cost price is calculated based on the costs that you input. Your min and max inputs here will be the range of prices you’re willing to accept as a percentage of your cost price. Setting your min price to "Cost price % above > 20%" means that your minimum price will be 20% higher than your total costs for that item. So if it costs you €10.00, your minimum price will be €12.00.
RRP %: RRP is short for Recommended Retail Price. The RRP is calculated based on your inputs in your import. Your min and max inputs here are the range of prices you’re willing to accept as a percentage of your RRP. "MIN Price RRP % above > 20%" is the equivalent of saying that your minimum price will be 20% higher than the RRP. So if RRP is €10.00, your minimum price will be €12.00.
Repricer rules: Advanced options
Advanced repricer rules allow you to plan for various scenarios that may arise. To access just click on Advanced Options.
If BuyBox winner?: Choose how your repricer behaves when you have won the BuyBox.
You have three potential options:
- The repricer will carry on as normal, repricing up and down
- If a price change is required, it will only allow upward price movements
- Do not reprice
Repricer.com only receives BuyBox ownership information from Amazon when a price change occurs, therefore if the buy box changes without a change in price this rule will not fire.
This only applies if you sell used products.
You can choose 3 ways to compete on used products:
- Used products compete equally against all other used listings
- Used products compete against equal or better quality used listings
- Used products only compete against equal quality used listings.
Featured merchants: Use this option to compete against featured merchants only, or leave it as default to compete against all BuyBox eligible merchants.
Out of bounds sellers: Choosing to ignore out of bound sellers means sellers that fall outside of your minimum and maximum price range will be ignored. This is helpful in a situation in which a retailer is listed as selling the same product as you, but in reality, are selling a much lower quality product, and can, therefore, set a much lower price. Find out more about how the out of bound sellers option works here.
Ignore the following merchants: Paste the Merchant ID of any specific sellers you don’t want to compete against. Include one Merchant ID per line. To find the Merchant ID, go to your competitor’s storefront on Amazon and copy the string of letters and numbers in front of “seller=” in the URL. If you wish to add Amazon add “AMAZON”.
If no competitors:
If there are no competitors on a product, you can choose to:
- Change my price to my highest allowed price
- Do not reprice
- Do not reprice unless outside of minimum and maximum price bounds.
- Find out how to create a competitor rule