Repricing with Seller Engine Plus

 

You just downloaded your inventory and you’re ready to reprice, follow this step by step guide to create your own custom pricing rules.

To get started, go to Inventory->Reprice Rules Wizard

 

 

 

I. The Reprice Rules Wizard 

 

 

The Reprice Rules Wizard will open;

click Next.

 

In Step 1 choose between creating a new rule and editing an already saved rule

If this is a new rule, please select the first option and click Next.

Considering that this is the first rule you will create, please select the first option and click Next.

 

 

You have now reached Step 2 of the Wizard. Here you can select the filters you wish to use.

To see the available filters, click on the Add button, just like below.

 

 

1. The first filter is “Exclude your items from the list”. If you select it, it will prevent you from repricing against your own listings.

Note: We strongly advise that you use this filter at all times.

2. “Only keep items that are in a specified condition” is a filter that will allow you to reprice against items of the same condition with yours’ or the condition you choose from the given list:

• - same
• - same or better
• - better
• - same or worse
• - worse
• - new
• - used
• - collectible

3. The “Keep the first lowest X priced items” filter will calculate your final price only based on those X lowest sellers.

4. If you choose “Keep the highest X priced items” SellerEngine Plus will filter the sellers list to only include the first X highest prices.

5. If you select “Exclude items based on their price”, you can see that you have various options to define this filter.

• - My Item Price
• - My Item Paid Price
• - My Item Minimum Price
• Flat Amount

  You can exclude sellers if their prices are equal, lower, higher than the Base Price by X Percent or Dollars/Pounds/Euros.

Also, you have the option to indicate to how many sellers from the list to apply this filter to, just like shown below:

6. You also have the option of competing against sellers with certain rating on Amazon by selecting “Keep items only if their sellers have a specified Amazon rating”

7. “Exclude an item if it’s sold by a specified seller” lets you create a list with sellers that you do not want to compete against.

 

 

If you have issues adding a user by name, you can still exclude this seller or any other seller by using their seller ID. The easiest way to find this is to go to the seller's storefront page and copy the seller ID from the URL. 

Find the seller ID by going to http://www.amazon.com/seller/UsersStoreName, or  for example: http://www.amazon.com/seller/sellerengine takes you to http://www.amazon.com/gp/help/seller/mp-about-seller.html?ie=UTF8&market... and the seller ID is A3FRIDDJLO4JB.

 
8. “Only keep items in the same category”

9. Keep items only if their sellers have a specific feedback number

10. “Only keep specific sellers” allows you to create a list of sellers against you would like to compete. Just type in the Amazon nicknames and click Add to have them in the list.

 

11. Exclude sellers from specific location  - currently, no longer working because this information is no longer available through Amazon’s API.

12. “Exclude items in specific category” gives you the option to create a list of Excluded Categories you do not want to reprice against.

 

 13. The “Exclude items eligible for SuperSaverShipping” filter eliminates all FBA sellers and Amazon from the sellers list

Note: Once you have added all the filters you consider necessary for your repricing schema, they can always be deleted, edited or reordered, just like any other settings that are part of the rule.

After you finished adding and editing the filters, click Next.

 

You will now reach Step 3 of the Wizard. Here you can define lower and upper limits. To add a limit, just click on the Add button.

 

 

Limits are not mandatory, but they can help users control the repricing process so that your prices will not go lower or higher than a specific amount.

Here, as well, you have a few options to base your limits on. You can choose from:

• - My Price
• - My Paid Price
• - Minimum Item Price
• - List Price
• - Lowest New Price
• - Lowest Used Price
• - Lowest Collectible Price
• - Amazon Price
• - Flat Amount
• - Lowest SuperSaverShipping Price

Limits can be set to be equal, lower or higher than the amount selected above by either X percent or X dollars/pounds/euros. After setting up the limits, again, they can be subsequently edited or deleted any time you wish.

Once finished, hit Next and move to the following step.

You have now reached Step 4 of the Reprice Rules Wizard. This is where you actually set the general formula for calculating your prices. Up until now we set filters and defined limits, but here is where you actually tell the software how to calculate your prices.

The Referenced Price will indicate on what to base your formula on. It can be set to one of the following:

• - Average price for all remaining sellers - Which will be calculated  after SellerEngine Plus applies the filters you have previously selected.
• - Lowest price
• - 2nd Lowest price
• - 3rd Lowest price
• - Amazon price
• - Lowest SuperSaverShipping price

Now you can set your price to X Percent or X Dollars/Pounds/Euros, Lower, Higher or Equal to the Referenced Price.

If you click on the check-box for “Add shipping cost to the final price, regardless of any previous rules”, this means that after calculating the  Item price, the software will add to the Item Price the shipping fee amount that you entered for each listing, while editing Item Description (using the Edit button from the toolbar).

This will not set the amount as your shipping fee on Amazon, it will simply add the (flat) amount to the final Item Price.

Step 5 brings you two exception rules where you can choose default actions to be applied in case they happen.
If the first exception applies, “If I am the only seller for this item”, then you just click on the check-box aside to be able to edit the decision to take as it follows.

You can make the price based on:

• - My Price
• - My Paid Price
• - Minimum Item Price
• - List Price
• - Flat Amount

and the Item Price can be Lower, Higher or Equal to the price above by X Percent or X Dollars/Pounds/Euros.

Same with “If there are no other listings for my item in the same condition”, just click on the check-box in front of it, as shown in the picture below and a pop-up will display the options for this case.

As you can see, you can choose from the same options to base your price on like for the previous exception case.

Next, you need to decide whether you want these exception rules to be applied before or after the filters set in Step 2:

Now that you have set up the last step of the repricing rule you can click Finish to have your settings saved.

 

II. Some Example Repricing Rules

 

1. The first schema is for sellers who wish to reprice their Merchant Fulfilled items so that they will be lower than the lowest Item price in the same condition by 1 cent.  

Please note: Many of our users have found the “Match Lowest Price’ option an effective strategy because it does not trigger the competition's automated reprice engine (which could cause and automated ‘price war’).

To create this rule:

 

- Open the Reprice Rules Wizard and select “Create a new rules file”.

- Click Add and select “Exclude your items from the seller list”.

- Click Add again, and select “Only keep items that are in a specified condition”; select the “Same” condition.

Go to the next step and add a lower limit that will be equal to “My Paid Price” (see example below).

 

 

Click Next, set your Referenced Price to be “Lowest Price” and set your new price to be 0.01 Dollars/Pounds/Euros Lower than the price above.
Enter a name for your rule and you’re done!

You’re rule should look like this:

 

 

 

 

2. This rule will match your prices with the lowest FBA prices on Amazon.

 

Here is how to create such a schema:

 

- Open the Reprice Rules Wizard, select “Create a new rules file” and click Next;

- Add the “Exclude your items from the list” filter so that you do not reprice against your own listings;

- Click Next until you reach Step 4;

- Set the Reference Price to be Equal to the “Lowest SuperSaverShipping Price”;

- Enter a rule name, click Next and Finish;

3. Let’s try another, more complex repricing schema. Let’s say you are a FBA seller that wants to compete against items in the same condition as yours’, however the sellers you want to keep have a minimum rating of 3 on Amazon. You also want SellerEngine Plus to calculate your price even if there are no FBA items.

- Open the Reprice Rules Wizard , select “Create a new rules file” and click Next;

- Hit Add and add the “Exclude your items from the list” filter so that you do not reprice against your own listings;

- You should also add ‘Only keep items in Same condition’ and ‘Only keep sellers with a minimum rating of 3’ just like it is shown below;

- Click Next to move to the following step. Now it’s time to set up the limits.

In case there are FBA items you are competing against you should set the Upper Limit to be lower than the Lowest SuperSaverShipping Price as it follows:

 

In case there are no FBA items SellerEngine Plus will reprice your items using Step 4.

The Referenced Price should be set to Lowest Price and have your new price be lower by 1%.

 

 

 

III. How to reprice

First of all you will have to assign a repricing rule to your items. You can do that on one item only or by multi-editing several items. You just have to select one item or more, click on the Edit button in the SellerEngine Plus toolbar and the Edit Inventory Item pop-up will appear. In the pop-up window go to Selling Details and choose a reprice rule from the drop down menu and hit OK.

After assigning a reprice rule to your items, select the items that you want to reprice and click on the Get New Price Data and Reprice option in the SellerEngine Plus toolbar.

 

Automatic Repricing

Another important feature regarding repricing in SellerEngine Plus is the Automatic Repricing capability. You can find this option in the SellerEngine Plus toolbar. Just click on Automatic Reprice option and a pop up window will appear.

Select Enable Automatic Reprice, set up the Start Time and the Repeat Interval and hit OK. You should also remember that Automatic Reprice will have your price updates uploaded to Amazon automatically, without further review.

Note: Please keep in mind to always keep your computer on in order to have a successful Automatic Repricing session.

For more detailed information on the Automatic Reprice feature, please read the help files from our website here: http://sellerengine.com/support/help/price-items/automatic-repricing

 

Setting up the Price Status Flags based on repricing results

 

After you just repriced your items, you have the option of sorting through your listings using the Price Status Flags available at Inventory>Price Status Flags

.

 The Price Status Flags are divided into three categories as follows:

• - Good cases;
• - Bad cases;
• - Remaining cases;

 

Users have infinite options to sort through their listings on account of the repricing results.

Example:

1.     User sets the Item price to be the average of the first 5 lowest prices in the same Condition and Category in the repricing rule. STILL, they may want their prices to be marked TOO LOW if the calculated price is below the 3rd lowest competitor’s offer.

Here is where the Price Status Flags come in handy.

*Go to Inventory>Price Status Flags and set the red  flag under Bad cases section as ‘Show position too low when your price drops below the 3rd position in the list” and click OK;

*right click on the Inventory tab and select Customize Grid Columns in the drop-down list. Browse through the list and select the Price Check Status so that the column becomes visible in the Inventory tab;

 

 

 

*reprice your items again; by the end of the repricing process you will see that the Price Check Status column will be filled in with flags that will show you what is wrong in each case;

*sort by the Price Check Status column by clicking on it and select the listings marked with the red flag using the Shift key and arrows;

*right click on the selection and click Edit from the toolbar;

 

*choose from the drop-down list a suitable repricing rule to assign it to the selected items;

Note:  You should know that in the Reprice Rules Wizard you can create as many repricing rules as you want.

*run a reprice for the selected listings and upload the prices;

Note: Sorting by repricing results cannot be included in the automatic reprice at this point.

 

 

IV. How to check your prices

 

If you want to see if your prices are correct, or to have a better idea on how repricing works, you can check the Reprice Log. This can be also useful to see if there are changes needed to the rules you have created.

To view the Reprice Log, you first have to make some changes to your settings. Please go to File->Preferences->Debugging and click on the check-box for “Save reprice log information”. Click OK to save the changes.

Your settings should now look like this:

 

 

Now, select your items and click on “Get New Price Data and Reprice”. After the repricing process is finished, select an item, click on the “Price Check” tab and then go to “View Reprice Log”.

 

This will open a page in your web browser that will contain detailed information on how the software calculated your prices based on the definitions you set in the repricing rule.

 

Reprice Log for Item 0312600844, Freedom: A Novel (Oprah's Book Club) that has a repricing rule set to reprice items to be 1 cent lower than the Lowest priced items in the same condition.