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5 Reasons Why Amazon Sellers Are Turning to Repricing Software to Stay Competitive

Guest blog by Chris Dunne from RepricerExpress

Getting your pricing strategy right is one of the most important parts of selling on Amazon where prices are changing constantly. There are two ways you can manage your prices on Amazon — manually or automatically using a repricer.

The latter is suitable if you’re a casual seller with a small number of SKUs or don’t mind dedicating hours of your week checking your competition and manually updating your prices. However, if you’re a serious seller, moving to an automated repricing software to keep your prices competitive is a smart move.

Let’s look at some of the reasons why.

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Global Sources Summit April 2017 Recap: Key Takeaways from 20+ Amazon Experts

On April 17-19 Global Sources held a 3 day online seller conference at the Asia World Expo in Hong Kong. The event brought together online and Amazon sellers together to learn from a wide range of speakers to help grow their eCommerce businesses. The event featured over 20 speakers covering a range of topics from sourcing, quality control, logistics to diversifying your business outside of Amazon and selling your business. Over 100 people attended from all over the world ranging from those just getting started to veteran Amazon sellers.

To those who couldn’t make it out to Hong Kong, not to worry they will be holding another summit in October. But in the meantime,  here is a recap of all the talks along with key takeaways from each of the speakers.

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How to Prevent Picking a Trademarked Brand Name for Your Amazon Business

Nowadays, with the Amazon marketplace getting very competitive, it is more important than ever to build a brandBuilding a brand starts with picking the right name. You do not want to pick a brand name that is already in use or even trademarked.

Customers love great products. If you are able to create a positive customer experience, your customers will start associating your brand with quality. This will result in generating more sales. Especially when you start selling more products in the same niche. Also, a high-perceived brand value will make your listing stand out among the competition. Even if they sell the exact same private label product as you!

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This Week in AMZ #16: Book Sellers Turn to eBay and More

Increased Amazon Fees Pushes Books Sellers to eBay

https://www.marketplacepulse.com/articles/amazon-fees-increases-pushed-books-sellers-to-ebay

Two major changes have affected book sellers on Amazon since March:

  1. Sellers could set their own shipping price.
  2. Fees increased from $1.50 to $1.80 per item. Plus, instead of calculating 15% off the item price it’s now 15% of the sales price plus shipping.

Marketplace Pulse looked at the feedback received by book sellers on both Amazon and eBay to see how this changed over time.

While the site acknowledges feedback is not the same as sales, it can provide an indication. After Amazon implemented the changes on March 1, the site saw a 25% decrease in book seller feedback.

On the flip side, eBay book seller feedback increased by 15%.

With increases in selling fees and higher risk not selling due to high storage fees, sellers should shift their focus on other items. Physical books have become much less profitable than they used to be.

But thankfully you have a wide range of products to choose from now as a seller.

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Boost Your Conversion Rates With Amazon Enhanced Brand Content

Sharing your brand story and educating customers about your products are powerful way to differentiate yourself in today’s cluttered marketplace. Human beings desire the emotional connection derived from a good story.

As the entrepreneur and author Seth Godin would say “Marketing is no longer about stuff you make, but the stories you tell.”

Enhanced Brand Content (let’s call it EBC) recently opened to third party brand sellers at no additional cost and is a useful tool to share your brand story.

Now, you are able to engage 10x better with your customers and provide them with more helpful information before they make a purchase. This will result in increased product sales while you build a recognizable brand on Amazon.

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This Week in AMZ #15: Amazon Officially Arrives Down Under, Walmart’s 2 Main Advantages, Britain Hit by $1 Billion Online VAT Fraud and More

Amazon Retail Is Coming to Australia

It’s been expected for a long time, but now it’s finally happening. Amazon is coming Down Under. Aussies are already able to use the Australian Kindle store, but now it’s time for retail.

Apparently, Amazon is actively looking for warehouse spaces to house fulfillment centers. But where its headquarters will be is still undecided.

As we reported before, some predict that Amazon might struggle in Australia. Whether or not this is the case, time will soon tell.

But there’s no reason to hold off yet. Australia is a big market, with trends of online shopping growth, this presents a great new marketplace for sellers.

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Meeting Your Chinese Suppliers for the First Time — Top 5 Tips to Prepare Before Your Visit

Photo credit: uberof202 via VisualHunt / CC BY-SA

 As an Amazon seller, it’s vital to build and develop a strong relationship with your Chinese supplier. It can be a daunting prospect meeting your supplier face-to-face for the first time.
 
For those of you that are coming to China and meeting your suppliers for the first time we want to get you prepared. Between networking and attending trade-shows, you should set some time away for meeting your supplier.
 
The main reason to meet your supplier in person is to build “guanxi“. Guanxi is the personal relationship which is the foundation for business in China.
 
By spending time with your supplier, you build trust. That trust will help you solid foundation for business going forward.
We spoke with Christian Potts from Tao Consulting with 5 years experience helping customers source products in China. Christian has first hand knowledge of visiting factories, meeting suppliers and deep understanding of Chinese culture.
By doing this, we’ve come up with a list of the top 5 tips to prepare when making your first visit to China.

 

1. Build a Relationship Outside of Business

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This Week in AMZ #14: Walmart Fires Back Again, Hackers Target 3rd Party Sellers, Survey Reveals What Teens Think About Amazon and More

Photo credit: JeepersMedia via Visualhunt / CC BY

Walmart Rolls Out New Discount Program

Walmart is increasingly challenging Amazon. From next week, it plans to offer discounts on around 10,000 online-only items. But there’s a catch: These items won’t be shipped.

Instead, customers will have to pick them up at one of the Walmart stores. This is how the company can offer the discounts in the first place.

The move is another example of Walmart’s recent initiatives to compete with Amazon. Earlier this year, Walmart announced its free 2-day shipping on all orders over $35. This was a response meant to rival Amazon’s Prime membership, which currently costs $99 per year.

Should you be concerned as an Amazon seller? Probably not. But as Walmart tries to drive more visitors online, it will become a more attractive marketplace for sellers looking to diversify.

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What Does the Amazon Influencer Program Mean For Sellers?

Influencer marketing plays an increasingly integral part of brands pushing their products online. A recent survey revealed that 84% of marketers plan on executing at least one influencer marketing campaign during the next 12 months.
 
Social media influencers can generate large amounts of income endorsing products. This happens through their Instagram, Facebook, Snapchat or YouTube accounts.
 
And now Amazon, with its recently released Amazon Influencer Program, gets in on the act.

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This Week in AMZ #13: Amazon Targeting Influencers, Introduces Amazon Cash, and the Case for More Verified Sellers

Amazon Tests Its Own Social Media Influencer Program

Social media influencers often promote products they like to their network. It’s a powerful symbiotic relationship that has been expanded by platforms such as FameBit.

Now Amazon aims to get in on this. Last week, Amazon initiated a beta test of its own influencer program. It will offer influencers commission on products, but it’s not open to the public. This separates it from Amazon Affiliates — its exclusivity.

Anyone can submit an application to be an Amazon Influencer. But only influencers with large followers will be accepted according to Amazon’s program page.

Product selection seems to be entirely up to the influencers. As TechCrunch describes:

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BREAKING NEWS: Amazon Updates Buyer-Seller Messaging System

Sellers are aware of the difficulties of getting feedback and reviews. Especially since last fall, when Amazon banned incentivized reviews.

Recently, Amazon made yet another change. Buyers can now opt out of seller feedback. 

This could affect sellers looking to generate reviews by sending out messages to buyers after they purchase.

More and more sellers have been receiving emails like this from Amazon. See below:

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Top 3 Seller Events to Attend in April (& Ticket Discounts!)

Are you a seller on Amazon and could benefit from meeting people to help catapult your business to the next level?

Could connections with manufacturers or product sourcers help you improve your business?

Then you want to be sure to attend at least one of the 3 top seller Amazon events happening this April.

In our last post about the Canton Fair, we emphasized preparation. To help you maximize your trip we’ve listed only the best Amazon seller events happening this April!

This is the perfect opportunity to learn from successful sellers and industry experts. People who have already navigated the seller’s process can give you helpful tips and advice. Here, you can see what’s working and what isn’t in today’s Amazon Selling World.

Not to mention the extensive networking and opportunities to share ideas you’ll have during these events.

Here are the top 3 events you should consider attending during your Hong Kong and China visit.

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This Week in AMZ #11: Amazon Acquires Souq, But Holds Off on SE Asia

Photo credit: TechCrunch

Amazon Acquires Middle East Ecommerce Giant Souq for $650 Million

Amazon continues to conquer the globe. Now, it appears to be setting its sights on the Middle East. TechCrunch reports that the company is about to acquire Souq.

The price-tag for the biggest regional ecommerce player? $650 million.

Amazon has never had business operations in the Middle East. This acquisition could allow it to hit the ground running in a market valued at $4.9 billion.

How this affects potential opportunities in the region is too early to tell. But it can open potential options for sellers looking to expand to Australia, Singapore, and now the Middle East down the road.

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Branding: How to Make Your Products Stand Out With Private Labeling

Wherever you go, there are three icons that everyone knows: Jesus Christ, Pele and Coca-Cola.”
— Pele

How did Coca-Cola reach such a status to be compared to Jesus Christ, a religious figure? (Or Pele, for that matter.)

The taste?

Maybe.

But most would agree it’s more than that. It’s the brand. It’s what Coca-Cola represents.

At its core, a BRAND reflects how the consumer feels when they discover, use or think about your product. This includes names, logos and packaging. Brands represent promises, perceptions and expectations.

According to eCommerceFuel’s 2017 State of the Merchant Report:   

*”Companies that sell their own products (labeled below as “Private Label” or “Manufacturing”) are growing about 50% faster than those that don’t.”*

While sellers all approach their businesses differently — deciding what to sell, sourcing suppliers, manufacturing and product launches, — many get stuck when it comes to private labeling and creating a brand.

Yet, as we can see, clear branding is becoming more important in order to succeed at selling on Amazon in today’s tough market.

In this article, we have created a basic guide to branding your company and products as a private label seller.

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This Week in AMZ #10: Air Freight for Chinese Sellers & Amazon Prime Now Includes Alcohol

Amazon Plans to Launch Air Freight Service for Chinese Sellers

Amazon already helps sellers handle shipments by land and sea. Soon it will add air to that list. It’s planning to offer sellers in China the ability to fly their goods internationally as air cargo.

For Chinese sellers, this will smoothen the process. It will also increase competition for international based sellers.

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The Definitive Canton Fair Survival Guide

The AMZ Tracker team recently made a big move.  A move to the heart of the action — Shenzhen, also known as the Silicon Valley of Hardware.

With our new home base, we’ll be able to give sellers unique insights and connections for doing business in China.

We’ll be bringing you content from experts here in ground as well updates and news from all things Amazon. Our first post will spotlight the upcoming Canton Fair in Guangzhou.

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This Week in AMZ #8: Prime Launches in Mexico and Jack Ma’s Take on Counterfeiters

Jack Ma Calls for Stricter Penalties For Counterfeiters

http://www.businessinsider.com/alibaba-founder-jack-ma-calls-for-stricter-penalties-for-fake-items-2017-3

Jack Ma, the founder of Alibaba, recently called for stricter penalties for people selling counterfeit goods. Ma encouraged the Chinese government to imprison counterfeiters one week per every fake item they sell.

According to Business Insider, He blames soft penalties and lax law enforcement for the surge in fake items across China. This is a 180° from his previous position that counterfeits are often better quality than genuine items.

In the short term, this won’t affect sellers. But if this becomes a growing sentiment, it might make counterfeiting more difficult and help protect brands in the future.

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Amazon Copywriting Tips to Increase Conversions

If you want to succeed on Amazon, you must have a listing that squeezes every possible conversion out of the traffic Amazon sends your way. This is why Amazon copywriting is so important.

Fortunately for you, many Amazon sellers neglect copywriting, giving you a major advantage if you follow the simple steps outlined in this article. Here is a run down of some copywriting tactics which will increase conversions and boost profits.

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This Week in AMZ 8: New Amazon Commissions, Development in the war on Scammers, & More

Amazon Announces Changes to Associates Program

http://www.theverge.com/2017/2/28/14755276/amazon-affiliate-rate-changes-associate-network-fees

Photo credit: Images_of_Money via Visualhunt.com / CC BY

After weeks of rumors, Amazon finally announced big changes to its affiliate program that will significantly cut compensation for high-volume affiliates.

The new fee structure offers different flat-rate commissions based on product category but does away with the former variable rate structure that tied commission rates to sales, which previously allowed high-volume sellers to make upwards of 8% in most categories.

Small-scale members of the associates program may make a few dollars more with the new rates, but total payouts from Amazon are certain to decline.

Affiliates have long been used as a reliable help to bolster traffic for Amazon. It will be interesting to see whether the fee structure will have an impact on Amazon’s traffic and growth, since affiliates are less incentivized to push Amazon’s products. Sellers who rely on affiliates may need to pay more as a result.

The new rates can be found here: https://affiliate-program.amazon.com/help/operating/compare

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