As an Amazon seller, it is quite important for you to maintain the trust level among your buyers. The credibility of a seller mainly depends on the services, products, and prices at which they offer top quality products. If there is sudden fluctuation in the pricing then it may harm your credibility and may target your customers towards other sellers. Henceforth, Amazon pricing monitoring tools come at ease to streamline the pricing for Amazon sellers.
Know about what your competitors are selling and at what price is as important as beating them in the good product listing. 2020 is on the way to come and if you still don’t know about the Amazon pricing monitoring tools then you’re in a complicated situation.
Why Sellers Need Amazon Price Monitoring Tools?
All Amazon sellers want to defeat their competitors by staying ahead in the game. This can be done through multiple ways in which having Amazon pricing monitoring tools is one. They need this tool to:
- Build consumer trust by stable prices
- Track prices for upcoming sellings
- Ensure the meeting and exceeding profit margins
- Track competitors’ prices in order to strategize own prices
- Know competitors’ drop in prices so you won’t have to face the consequences
- Enjoy the advantages of controlled prices in the competitive marketplace
- Automatically track competitors’ prices and save your time doing this manually
- Automate price monitoring under sudden fluctuations
Amazon pricing monitoring tools
Here are top price monitoring features for Amazon sellers that will be helpful in 2020 to increase their sales and boost their conversion rate.
The best thing about this feature is that it uses artificial intelligence to monitor, control, and reprice the product prices. It also strategically monitors your price. There are sever price wars among Amazon sellers and a sudden drop or rise may be catastrophic. It is of huge importance to opt for an AI model to completely control the prices in your hand.
You can standardize some set of rules to automate the system to follow if you can’t give it full time. This tool does not come at a low price. The best thing has great prices:
- Standard Package: $500 per month for 15,000 listings
- Premium Package: $800
There are dozens of analytics and actionable insights. Though it is rather expensive, this single tool is your all-in-one solution. This plain, simple, and effective tool does the majority of your business needs – not all like other business features – but it will be enough for you to take control of your pricing.
It is one of the great Amazon pricing monitoring tools for sellers who list internationally. It is useful for sellers who play in the international market. It allows currency conversion and tools to modify shipping prices accordingly. Another attractive thing about this feature is its pricing when you sign up for a year:
- Starting price: $45 per month
Many sellers of Fulfillment by Amazon and Merchant Fulfilled Network use this tool to streamline the complicated onboarding process. Sellers can manually alter the base and ceiling prices under the sorting options.
If you are stuck with the slow interface and other kinds of limitations that land you in trouble, then just leave the pesky tools that come in the light pocket. RepricerExperss may seem quite hefty to your pocket but quite will lighten to your business burden.
Amazon Automate Pricing comes with the basic price monitoring features in which sellers can easily set rules. Many people compare this tool with other expensive with lots of features but it is obvious that low-priced thing is limited to some extent. Though the tool has limited functionalities yet the available ones are of quite worthy.
Sellers can set a percentage more or less at which their competitors are selling the same products. This tool will automatically monitor the competitors’ pricing and adjust it according to your products under your absence. So you won’t have to give a second to it.
The biggest con of this tool is that sellers lose control over the manual incremental price changes. You need some serious tweaks to increase your prices while you can decrease your prices manually.
If you are selling the strong or most sellable products on Amazon then Price Checker 2 should primarily be your first choice. You can automatically set the pricing based on real-time marketplace analytics.
This software comes with a moderate price range at:
- $89 per month for unlimited use
Many sellers are fond of this software as it works like a pro when the seller is in trouble. But a negative aspect is that you will have to work with the developer as the company does not have a dedicated customer service. It comes very strong for the wholesale sourcing tool and can analyze up to 17,000 per hour. It is fair enough under this price range.
The best thing about this tool is its great and dedicated staff that keeps on easing your problems even you don’t notice it. Sellics are directed to the dashboard which enlists their products, profits, and losses. It also adds product and seller reviews which eventually make it easy for the sellers to manage metrics.
It has a spy tool that keeps you informed about your competitors. The malicious spyware in Sellics is another top feature. It offers monthly, biannual, and annual plans starting at:
- $47 per month
The negative reviews come from some users include the confusing price reports and not indicating the calculations for the return on investment. Sellers can get a 20% discount on creating several Sellics accounts but they cannot add more users to integrate the Seller Central account.
Selling on Amazon is the name of a game. You need to stay a step ahead or else your competitors’ will ruin your business overnight. Track your competitors’ prices and know what they are playing. It’s super easy once you get it done but too significant to grab on even after achieving your goal. Choose what suits you best and start tracking your prices to stay ahead in 2020.
Disclaimer: XpertVA does not promote any specific tool. All the information gathered here is entirely based on research and subjective conclusion.