March 19, 2019 by Price-Fuel
How many Amazon merchants would you guess make more than $1 million per year?
Maybe 1%, or 5% at the very most?
Turns out, it’s 19%.
That’s right: One-fifth of sellers with a presence on the world’s top online retailer are raking that much money annually.
They aren’t selling anything particularly exotic or rare. They don’t have access to a secret algorithm or exclusive network of buyers. Rather, these Amazon top sellers have simply figured out how to make the system work for them.
Ready to join their ranks?
It’s easier than ever before thanks to our top-selling repricing software, PriceFuel.
Designed to help private label Amazon sellers get an edge up on the competition through strategic pricing, our tool improves your market share and boosts your profits. In other words, it’s changing the game, one sale at a time.
Today, we’re taking a deep dive into some of the benefits our software provides and how you can use them to optimize your earnings.
Ready to learn more? Let’s go!
If you’re an Amazon individual seller, you want shoppers to click the “Buy” button. Yet, you don’t want to end up with razor-thin margins when they do so. You also don’t want to outsell your inventory levels or wind up with a minimal market share.
With PriceFuel, you can set your own strategy based on these three objectives. Let’s take a closer look.
When you have a hot-ticket item, you need to act quickly. High demand means you can comfortably raise your prices and boost the profit you earn from each sale.
Yet, if traffic is that high, you may not have time to manually adjust those settings. This is where PriceFuel comes in.
Our software automatically raises your price point when sales are up. Then, if they lag down the road, we’ll lower the price point to get more eyes on your listings.
Another area of your business impacted by your pricing strategy is your market share.
Put simply, your market share represents the percentage of sales that you contribute to your industry. An Amazon seller with a large number of product sales in a particular niche has a greater market share than someone just starting out.
Sellers with a higher market share are more visible on Amazon. Their best seller rank (BSR) is up and they’re getting the internal and external traffic they need to stay top of mind.
One way they’re getting there? By not over-pricing themselves.
PriceFuel can help you lower your prices when you want to grow your market share. Then, once you’ve reached your personal business goals, we’ll help you gradually raise them so your profits can grow, as well.
It’s always a great thing when your products so popular they’re flying off the shelf. Yet, you don’t want to set your prices so low that you can’t keep up with the demand.
As you’re restocking your store, PriceFuel will raise your prices to tip the supply/demand balance in your favor. Conversely, if you’re overstocked, the tool lowers your prices to help move that product out and move money in.
Whatever your custom pricing approach is, our Mix and Match program allows you to set specific rules for every Amazon item you list.
For instance, you might want to raise your prices only when your sales are up. Or, you may choose to raise them both when sales are up and inventory is scarce.
You can set the parameters around every rule, determining when it’s triggered, how much the price should adjust (by a minimum of $.01), and the duration of time the rule should be set in place.
You can also choose to apply your rules to one individual item or across all batch listings, and can assign each rule a number (1-3) based on priority.
Want to always make sure your prices are up when your product levels are low? Set inventory management as a first priority. That way, this rule will be applied first, even before sales and market share goals.
Amazon sellers are also business leaders. And, a successful business is based on routine performance checks and real-time analysis.
To this end, PriceFuel displays your product tables in a clean, user-friendly format, updated every hour. From here, you can quickly see which products are outpacing the rest and which need a boost to catch up.
Filter and sort your products by days of supply, BSR or units sold.
Days of supply refers to how much longer Price-Fuel predicts your products will be in stock, determined by your current sales statistics and projected customer demand.
With this data in front of you, you can make real-time pricing decisions.
For instance, if you see your days of supply are dwindling, you might choose to quickly raise the price of those products to preserve your inventory as much as possible. Or, if you notice that your BSR is low and you want to gain visibility, you may lower them.
From within the dashboard, you can also set a minimum and maximum price for each product. This way, you can’t set the price point so low that your inventory levels can’t keep up. You also can’t overprice them to the extent that you lose valuable sales and traffic.
It doesn’t take a secret key to crack the Amazon code. Nor does it require investing all of your time, money and energy into keeping your store profitable.
All it takes is having the right tool in your pocket.
If you’re tired of comparing yourself to Amazon top sellers and keep second-guessing your pricing strategy, we’re here to help.
There’s a reason more private label sellers trust their PriceFuel than any other software of its kind. Our intuitive, powerful tool is built with your success in mind.
See the difference for yourself by signing up for a free 14-day trial, fully loaded with all our features. Then, you can finally stop stressing and start selling.