Amazon have added a new feature to let Automate Pricing adjust your prices both up and down. In addition to keeping your prices competitive, Automate Price rules can also be configured to increase your prices.
When you configure price rules to compare against prices from retailers outside the Amazon store, Amazon can increase your price when the external price increases. This applies when there are no other offers for the same item in Amazon’s store that meet your rule criteria.
This is key to maintaining maximum profitability if you use Automate Pricing, if the price externally to Amazon fluctuates upwards then your sell price will also rise keeping you competitive but maintaining maximum profitability. It’s worth noting that this is also a double edged sword, if prices on retail websites increase then so will your price but if prices are slashed then you could see your offer on Amazon similarly lowered.
Naturally this will only be of use if you use Amazon tools, if you make use of an external repricing tool then this is likely to override any Amazon settings.
To use this new feature, go to Automated Pricing and enrol your SKU in a Competitive Featured Offer rule or Competitive Lowest Price rule, and configure your rule settings to compare with prices outside the Amazon store.
Automate Pricing is free to use and helps increase your chance to be the Featured Offer by adjusting your prices quickly and automatically in relation to competing offers for the same product.
To learn more about Automate Pricing, go to the Adjust pricing quickly and automatically Amazon help page.
