In this multiple part series, I will be teaching you step-by-step how to set up a repricer for your Amazon business, how to set up your repricing rules, how to set minimum/maximum prices in bulk, and how to maximize your sales and profits by harnessing the power of a repricer.
I have tried several different repricers for my Amazon business.
In my quest to find the perfect one, I experimented with many different alternatives.
There are many to choose from, and they all differ in features and pricing.
The first repricer I used for my Amazon business was called RepriceIt.
I do not recommend this repricer, though it worked for me at the time.
This repricer is dirt cheap, coming in at around $10/month.
When I first started selling on Amazon, I began by selling used books that I sourced from thrift stores such as Goodwill, Value Village, Salvation Army and Dollar Tree.
Other book sellers recommended RepriceIt, so I took action and gave it a try.
I’ve been using repricers ever since I started selling on Amazon.
Right off the bat, my goal was to push out high volume, instead of trying to maximize my profit for every single item and go for all the money.
When it comes to selling on eBay, I go for all the money because it is not my main source of income and I can afford to sit on product until it eventually sells, but on Amazon I always have been volume oriented.
Like they say, you either want to be the first one out or the last one out.
With Amazon, my goal is to turn over cash as fast as I can and as many times as possible.
RepriceIt was great when I was selling used books because it would sell my inventory by any means necessary.
The only downside was that it usually accomplished this by completely tanking prices and partaking in races to the bottom.
When you use RepriceIt, you can only set bulk rules that apply to every single one of your listings.
For example, when I first started, my rule was set to automatically undercut other sellers by a single penny.
No matter what happened, my repricer would always make sure that my listings offered the lowest price at all times.
Though this was effective in moving product, it was highly ineffective in holding gross profit.
There were books that I sold at high enough prices for my business to generate money, but there were also many instances where my repricer was competing directly with other sellers who were also undercutting by a penny.
This resulted in many listings completely tanking to the point where they were no longer profitable.
I used RepriceIt from when I started selling on Amazon in May 2022 until September 2022.
I began retail arbitrage in June 2022.
In hindsight, using this repricer actually worked out pretty well for me because I was able to get rid of nearly all of the books I had in my inventory, while only spending a relatively small amount of money on repricing.
However, I certainly lost out on tons of potential profit had I used a better repricer that didn’t tank my prices.
That being said, I now had built up some capital via retail arbitrage and learned a few lessons about repricing.
What I learned is that you do not want to be the lowest price at all times.
Contrary to popular belief, this will not result in more sales and more profit.
What you want to do when repricing is to match the buy box competitively.
Amazon does not want you to tank listings.
Think about it, they would rather you sell items for higher prices so that they can make more money.
They want you to match the buy box price and will rotate you in with other sellers when you do.
This is why I decided to find a repricer that allowed me to reprice individual listings one by one by setting my minimum and maximum prices.
After setting your minimum and maximum prices, your repricer will stay within your designated ranges while adjusting your prices.
This is useful in that it prevents you from losing money, similar to how a stop-loss works when you trade stocks or crypto.
RepriceIt did not allow me to set minimum/maximum prices and simply repriced all my listings in the exact same way.
That is the primary reason why I began using Bqool.
I used Bqool from September 2022 until January 2023.
My sales had been stagnating at around $10K/month, and switching repricers to Bqool is what allowed me to push past this plateau to hit over $25K in November 2022 and $35K in December 2022.
I started off using the $50/month plan and eventually upgraded to the $100/month AI repricing plan.
After Q4, I decided that I wanted to try out a cheaper repricer because I didn’t feel like paying $100/month if there were comparable alternatives that were cheaper.
Until I tried out all the options, I wouldn’t be able to know which one to use long-term.
That’s just how my brain operates.
I did some research and decided to try out ProfitProtectorPro.
This repricer also offered AI repricing but only cost $59.95/month in comparison.
The main selling point that led me to try out this repricer out of all the available options was the fact that there was an iPhone app.
This appealed to me because I liked the idea of being able to quickly reprice my products while still in stores.
Looking back on this, the phone app wasn’t very great and I hardly used it.
I ended up doing most of my repricing work on the computer.
ProfitProtectorPro also has a Chrome extension, which attaches itself to AMZ listings, but this is also better in theory than in execution.
I would find that the plugin would block my Keepa graphs and simply wasn’t useful at all.
It would glitch out my Amazon webpages and was effectively useless.
This repricer is a solid choice if you need AI repricing for 10K listings because it offers more AI listings at a cheaper price than Bqool, but that being said I don’t like this repricer for a few main reasons.
First of all, it’s made by a foreign company, so it does not feel native for American users. If you are a UK seller, you might find it more intuitive. ProfitProtectorPro connects with BuyBotPro, which is a competitor of InventoryLab.
One of the biggest selling points of Bqool is that it seamlessly connects with InventoryLab, which is what I use.
While you could certainly import your buy costs via Excel spreadsheets, this process was complicated and I couldn’t find any proper documentation online to easily set this up.
With Bqool, you can import your cost prices directly from InventoryLab, which allows you to calculate ROI when repricing and set min/max prices in bulk based on desired ROI percentages in order to avoid losing money while repricing.
None of the other repricers I tried offered this feature.
Next, ProfitProtectorPro did not reprice my listings in a way that I personally liked.
This is just based on my anecdotal experience, but I did not feel like the AI repricing was all that great when using this repricer.
Bqool AI repricer was an absolute beast.
I would turn it on and it would work its magic.
Over time, it would become even more powerful and effective.
For ProfitProtectorPro, I found myself continually having to adjust my minimum/maximum prices and switching between AI repricing rules in order to drive sales.
I would try to maximize my sales, and then it would tank my prices.
If I tried to maximize profit, my items wouldn’t sell fast enough.
This was counterintuitive because the main reason I wanted to try this repricer was so I could spend less time repricing, reprice while I was out sourcing and save time.
The only thing I saved was some money, but it wasn’t really working out for me.
Furthermore, I do not usually even carry anywhere near 10K listings at once, because I do retail arbitrage and consistently sell out of ASINs.
Finally, the layout of PPP simply did not feel as put together as that of Bqool and other repricers.
It felt like it was stuck in beta testing, and there were many bugs that bothered me. The interface simply did not cut it for me. My dissatisfaction with this repricer is what led me to search for other alternatives.
In April, I discovered a new repricer called ChannelMax.
This was recommended by several Amazon sellers on YouTube and I decided to give it a try.
Compared to other repricers, it was much cheaper ($35/month).
That being said, it lacked AI repricing and was purely algorithmic.
This repricer was really difficult to set-up and I had to get on a Skype call with the support team in India to get it going.
That being said, this is a decent repricer and worth a try if you are on a tight budget and are tech-savvy.
The main downside of this repricer is that I would have to set my minimum/maximum prices manually every single week, sometimes every single day.
This is how I would drive sales.
It does not offer inventory age conditions like Bqool does, which means you cannot change your repricing rules based on how old your product is.
Because it lacked conditional repricing and AI repricing, adjusting my minimum/maximum prices manually daily was the only way I could stay competitive.
I would log in to my repricer and see that another seller had lowered their prices below my minimum price.
In order to sell my products, I had to lower my minimum price manually for every single ASIN I had in my inventory.
This repricer was good at holding gross profit, but took up a lot of time that I could have spent sourcing, packing or doing other productive work.
Finally, it lacks the ability to automatically sync buy costs from Inventory Lab which is definitely one of it biggest downsides.
Having access to your buy costs is imperative in not losing money on items when you are discounting your prices.
I used this repricer from April 2023 until September 2023.
That being said, this is a solid repricer that I definitely recommend, but it is certainly time-intensive and not for sellers who simply want to plug and play.
That being said, I’ve decided to switch back over to Bqool now, because I am gearing up for Q4 and want to explode my sales.
Furthermore, new features have been added to Bqool which make it the best choice currently available on the market.
Conditional repricing is one of its top new features, but now they also offer new AI rules that previously did not exist, which is what drew me to return to using it.
They now offer AI Max Profit, AI Grow Profit and AI Boost Profit, which are three new AI repricing rules that are designed to never undercut the buy box, and instead match it.
Furthermore, you can now utilize a price-looping strategy for these three new AI rules, which means you can raise your prices to the maximum on a scheduled basis throughout the day.
This is one of the best features of ChannelMax that Bqool previously did not have that they have since added.
In my opinion, with the addition of these new features, Bqool became the best option of repricers on the market.
I plan on using conditional repricing so that I do not have to reprice manually every single day.
I can now automate my minimum/maximum prices and automatically change the AI rules that my listings use based on inventory age and a variety of other factors.
This will prove immensely valuable during the holiday rush, when I will be FBMing tons of orders and sourcing every single day.
Because I will be utilizing the $100/month plan, Bqool AI will be working day and night to reprice my items and generate maximum profit.
Bqool also features machine learning, which means that it gets smarter as you continue to use it.
It learns from your repricing strategies and continuously adapts to generate more profit and sales for you without you having to do any additional work.
From my experience, I find this to be true.
With the addition of conditional repricing to my business, older items that do not sell will be automatically clearanced out, so I can focus my attention on obtaining fresh new inventory that can generate maximum profit and extracting capital from older inventory.
This is quite similar to how huge businesses like Walmart and Target operate, and you can always benefit from emulating from them and adapting their winning strategies for your own business.
Now that I’ve explained the various repricers I have tried and why I use Bqool, let’s begin.