You found some great products, bought them, priced them, labeled them, and sent them off to Amazon. Now what do you do? Of course you go out and look for even more inventory, but how often do you think about the prices of your inventory that’s sitting in a FBA warehouse? Prices in brick-and-mortar stores change all the time, and this is equally true with Amazon. As time goes by, your inventory will both gain and lose competition. Other FBA sellers will possibly undercut your sale price, while other sellers might sell out of an item. Just because you priced your item competitively three months ago doesn’t mean that it’s still priced to compete right now.
Smart FBA sellers take the time to evaluate the prices on their items to make sure they are priced to sell quickly and maximize profits. Repricing your inventory on a somewhat regular basis in order to keep prices competitive is a wise business decision. As you think about pricing strategies, you’ll soon learn that repricing doesn’t always mean lowering your price, but can often mean raising your price. We’ll talk more about repricing strategies later this week.
Now, let’s go over how to reprice your items manually. Click on the image to the right to see a visual representation of each step.
1. Log in to Seller Central
2. On the top left of the screen, click “Inventory.”
3. On the left sidebar, under “show my inventory,” click on “Active.” This will show you what items are currently in stock (no need to reprice something you don’t have in stock anymore).
4. The default setting is to sort your inventory by Merchant SKU, but you can change that to however you want to sort your inventory (by product name, date created, quality available, your price, and fulfilled by).
5. In this list, Amazon provides you with the current low price + shipping for each item, but be very careful with this information. Sometimes Amazon will give you the lowest used price even if you are selling a new item. It’s always best to open up the individual item’s product page to see for yourself what the current buy box price is, as well as what the competition is selling that item for, and then decide for yourself how you want to price your item. A quick click on the ASIN/ISBN link will open up the Amazon product page where you can get all the info you need to reprice wisely. Note: If you see a little check mark in the “Low Price” column, that means that you have the current lowest price.
6. If you’re looking to reprice a specific item, you can search for that item in the search bar located near the top left of the screen. You can search by product name, SKU, ASIN, or ISBN.
7. Under the “Your Price” column, you’ll see a box where you can update the price of the item. Simply type in the new price you want. The price box will turn into a yellow shaded box. This indicates that you have updated the price, but have not submitted it to Amazon yet.
8. Submit your new prices to Amazon. You can either do a hard return in the price text box, or you can wait until you are done updating prices on select items on the page, and then click the “Save” button on the top of the screen. Once submitted, it takes only a few minutes for Amazon to update the prices for your items.
There you have it. You are now equipped with the skills to reprice your Amazon inventory. Keeping your prices current and competitive is a key component to a successful and profitable Amazon business. In our next blog post, I’ll share with you my 6 most profitable repricing strategies.
Comment below if you have any questions about repricing. I’d love to help you in any way that I can.