Are you looking to streamline the repricing aspect of your reselling on Amazon business? Want to stop spending countless hours manually repricing your inventory? Well, BQool Repricing Central is one of the best yet affordable repricing solutions available.

On top of that, it’s easy to use. In this guide, I will show you how to use BQool Repricing Central to maximise your profits as much as possible for your products at Amazon FBA. Regardless of what you sell.

Why you should reprice?

More than 53% of the transactions in 2017 on Amazon US involved third-party sellers. Do you know what’s crazier? Over one more million new sellers joined the Amazon marketplace this year.

What does this mean? Well, it means that the online platform is thriving and attracting new sellers to meet demand. Which obviously is great for Amazon but not so much for third-party sellers. The increase in competition will affect many variables, but mainly price. It will fluctuate more frequently.

You are therefore more likely to lose sales if you don’t keep up. Repricing frequently (not undercutting) is the best way to win the Buy Box and increase your sales. If your pricing is not competitive, your offer will get buried among the other offers.

Why use BQool Repricing Central to automate the repricing of your inventory?

Over the last few months, I have experimented with many Amazon repricing solutions and have found BQool Repricing Central to be one of the most beginner friendly. Why? It’s easy to use and has many useful functionalities despite its clunky interface.

Out of all the popular repricing solutions, BQool is one the most affordable for beginners. It has more functionalities that you will need and you can start repricing up to 1,000 listings for only $25 per month.

Getting started with BQool

To start repricing your Amazon inventory, the first thing you will need is a BQool Repricing Central account.

Visit the BQool website and click on the start ‘START FREE TRIAL’ button.

Select ‘Repricing Central’ from the drop-down, enter your email address and hit the ‘Create account’ button.

Once you’ve created your account and signed in, you will be redirected to your BQool Repricing Central dashboard. On which you will be able to connect BQool to your Amazon account.

Before I show you how to create your first repricing template, let’s look at some of the repricing best practices you should keep in mind.

Repricing best practices

You’re researching and reading into repricing, so I will assume you know what the Buy Box is and the factors that influence the winning of it.

When it comes to repricing a new product with multiple sellers on the listing, you have some options. Your repricing strategy will depend on who you’re competing with.

If the competition is an FBM (Fulfilled by Merchant) seller, sellers usually:

• price above the competitor’s price. This an FBA seller’s dream. If you come across a profitable product with no FBA sellers, you can price above your competition and still get the Buy Box. Reprice up until you find the maximum price at which you can get the Buy Box.

But if the competition is an FBA seller, the following options are available:

• match the Buy Box. This is not the best strategy in the short-run but it certainly is if you want to be profitable in the long-run selling on Amazon.
• beat your competitor’s price. Repricing down is frowned up for one simple reason: because it will always lead to a price war. This will eat into everyone’s profit, including yours. All in all, do yourself a favour and never undercut unless you want to liquidate inventory.
• price above the Buy Box winner. In some situations, the seller with the lowest offer won’t necessarily get the Buy Box. This is your chance to find that maximum price at which you can obtain the Buy Box. Take advantage of the situation, reprice up and maximise your profit.

Creating your first repricing template

The first thing you need to do is to create a repricing template in your BQool Repricing Central account.

On your dashboard, click on ‘Repricing rules’ button.

Next, you will have the option to create your own repricing template from scratch or choose one BQool’s built-in repricing templates.

I love the built-in templates because you can start with one and fine-tune it until it does what you want it to do.

Rule: Compete for the Buy Box – Maximize profit.

Let’s take a closer look at one of the templates that I am using and have amended to my needs.

Here is the rule’s full description.

Description: This rule uses the current Buy Box price to adjust your position. Once you are in the Buy Box, the Buy Box Settings will raise your price to maximize profit by looking for the competitor priced above you. Only when a competitor has taken the Buy Box away, the Repricing Settings will be able to lower and raise your price according to the new Buy Box price.

Buy Box settings

The aim of most repricing templates is to get your offer in the Buy Box position. But what do you do once you have the Buy Box?

I like to continue repricing because I want to maximise my profit. This feature lets me do exactly that. How? If my competitor raises their price, I want to be 2.5% less than their new offer. This way, I’m likely to keep the Buy Box while increasing my profit margin.

What if my competitor’s new price is above my Max price? Well, this rule will make sure my Max price is set as my new price.

Repricing settings

Now let’s look at how to reprice when you don’t have the Buy Box.

The first thing you need to do is decide who you want to compete with. You have two options. You can either compete with the seller with the lowest offer or the one in the Buy Box position. For new items, I prefer the latter.

All sellers including Amazon, FBA and FBM sellers are can win the Buy Box position.

Note: Sellers who are not eligible for winning the Buy Box position are called non-featured sellers in BQool.

Now let’s look at some of the specific rules in more detail.

1. Buy Box winner found between Min & Max

The rule that is set above is simple. If the offer in the Buy Box position is greater than my Min price, I match it. And if it’s equal to my Min price, my Min price will be used.

2. No competition (When no one owns the Buy Box)

When you have no competition on a listing, make sure that you maximise your profit. Experiment and set a fair optimal price.

I don’t reprice my inventory when there is no competition. Instead, I like to take a note of the of the SKU and reprice it manually.

3. No competition between Min & Max (When all competitors are below Min Price & above Max price)

I set this price to my Max price.

Why? Because if the Buy Box offer is above my Max Price and it goes out of stock, my offer is maximised.

4. No Box Box winner found (When no one owns the Buy Box)

This can sometimes happen. Especially if all the offers are deemed too high by Amazon. In this case, I don’t usually reprice.

Advanced settings

In this section, you can control how to compete against specific sellers. This is handy as your repricing strategy is going to be different based on who has the Buy Box position.

As you can see from the above screenshot, I always match (and sometimes price above) Amazon and FBA offers. But always price above FBM sellers. If you’re an FBA seller you should be doing the same.

Custom settings

The neat thing about any good repricing solution is that you can choose who and who not to compete with.

As you can see from the above screenshot, I don’t want to compete with new sellers.

Repricing template for used books

As a long time bookseller, in this segment, I’m going to go outline how I use BQool Repricing Central to reprice used books.

To create a new repricing template, go to ‘Repricing Rules’ and click on the ‘Add New Rule’ button.

Buy Box settings

I set the Buy Box settings to ‘Do not change my Buy Box price’. Why? Since I sell used books, they are not eligible to win the New Buy Box position. But you can reprice when in the Buy Box position. Because some listings have a Used Buy Box when there aren’t any new copies available.

Here are my settings for this section.

Also, remember to give your new rule a name and description.

Repricing settings

Since sellers selling new books are not my competition, I compete with the seller with the lowest price. Regardless of the fulfillment methods.

Let’s have a look at some of the specific rules.

Competition found between Min & Max

When my competitor’s price (the lowest offer) is found between my Min and Max Price, I match its price. But if its price if below my Min Price, I use ‘Use Auto Compete’, which basically looks for the next lowest offer.

What if the second lowest offer is below my Min Price? Again, I use ‘Use Auto Compete’, which looks for the third lowest offer.

No Competition (When you are the only seller)

In this scenario, I set the price to my Max Price. This is because the field is open and I need to come back to this offer later and price it manually after further analysis.

No Competition Between Min & Max

In this case, I also set my price to the max because just in case all the offers are above my Max Price.

Advanced Setting

This part is important. When the lowest offer is FBA, the rule mentioned earlier would be applied.  But if the seller is using FBM, I price higher. In such a situation, I set my price at 10% above my competitor’s price.

If the lowest offer FBM offer is below or equal to my Min Price, I use ‘Use Auto Compete’, which looks for the next lowest offer. And if that too is below or equal to my Min Price, I set my price at 10% higher than it.

Customs Settings

I love this feature. It allows me to exclude new sellers and sellers with long handling time. And lets me compete only with used offers of ‘Good’ or better.