Owing to a rise in the number of sellers on marketplaces, the merchants with similar product lines are pitting against each other to rise to the top. In order to give the sellers a winning edge, multi-channel eCommerce platform, BoostMySale will shortly be introducing a new feature called ‘Automated Repricing’.
Re-Pricing is considered to be one of the most essential aspects of online shopping as online buyers at large look for the best price. Marketplaces such as Amazon list numerous sellers when a product is typed in. The seller which offers the best price on the product often finds the top spot. Research conducted over a period of time revealed that 80% of the orders go to the top seller. That is what denotes the immense importance of the top seller’s spot from a seller’s perspective.
This feature allows Amazon sellers to compare their product prices with other sellers automatically and then adjust them accordingly, thereby giving them a chance of getting into the ‘Buy Box’ (the top seller on Amazon).
How Will it Work?
The merchants can set a maximum and minimum selling price for their products, and the tool will automatically keep on adjusting the selling price within the range that has been provided by the seller. This adjustment will depend on the price that competitors are offering.
This will relieve the merchants from manually tracking the price of their peers’ products, and further manually adjusting their own. The automation would increase the efficiency of online selling process, and thereby increase the returns too.
BoostMySale Director, Priyanka Rungta said “In a nutshell, BoostMySale repricing system will help our clients to monitor the product price of their competitors, adjust their product price dynamically and maximize profits. It does this 24/7, even when you are asleep.” To get more information and a demo on the same, click here.
Launched in 2013, BoostMySale has over 100+ eCommerce enterprise clients, and handles close to 50,000 orders per day. It gives online retailers a system for centralized inventory management, and a flexibility to sell different products at different rates on different marketplaces, among its other features.
It is an award winning turnkey eCommerce product which has been awarded the ‘Top 5 Cloud Computing Companies in India’ by “Indian Express IT Awards” in 2014 and ‘Nasscom Emerge 50 Company’ voted by “NASSCOM” in the year 2013. Being a completely cloud optimized platform built with enterprise security standards; BoostMySale provides the best of both extensive scalability and complete security for customer’s business.
Disclaimer: This content is powered by BoostMySale