SmartRepricer strategies help you optimize pricing, increase sales, and maximize profits on Amazon. You set the rules, and our AI does the rest!
All repricing is based on your chosen strategy. Without a strategy selected, SmartRepricer will not reprice your listings. That's why it's critical to assign a default strategy to each of your marketplaces when you set up your SmartRepricer account.
After that, if you have listings that need to be priced differently, it's best to create more strategies as soon as possible.
You can choose from our existing strategies or create your own from scratch. This article explores both options in depth. If you'd prefer a quick setup guide to get started as fast as possible, see How to Use Strategy Templates or How to Create Your Own Strategy.
Adding Your Strategy
Click Strategies in the menu on the left side of your SmartRepricer screen.
Click Create Strategy in the upper right.
To select from SmartRepricer's strategies, click Use Our Templates and keep reading. If you want to set all the rules yourself, click Create Your Own and skip ahead now.
Using Strategy Templates
If you click Use Our Templates, you'll be brought to the screen below. Note that the top row is for FBA products, while the bottom row is for FBM (merchant fulfilled). Be sure to select a strategy from the correct row for your inventory.
Note: You'll be able to set up as many strategies as you need. If you have a mix of FBA and FBM listings, you can create a strategy for one now and the other later.
Sales Booster
The ultimate goal for this strategy is to increase your sales. It may lead to price reductions as it pursues the Buy Box. Therefore, review your minimum prices and ensure you are comfortable selling at those price points.
While this strategy raises prices whenever feasible, its main goal is always to acquire and retain the Buy Box.
Profit Booster
This strategy emphasizes profits rather than focusing solely on sales, but still targets the Buy Box. It is highly likely to generate sales surpassing the Buy Box's price. It's particularly suitable if you prioritize profits even when that means slightly slower sales.
Balanced Enhancer
The Balanced Enhancer strategy balances sales and profit. By repricing based on market conditions, it keeps you competitive while still reaching your profit targets.
Aggressive Lowest
This repricing strategy aggressively targets the lowest price in the market. The primary objective is to capture a significant market share through rapid sales. By strategically undercutting competitors, you can attract cost-conscious customers even if you do not win the Buy Box.
Once you've selected a strategy (making sure to choose one with the correct tag, FBA or FBM), click Continue in the lower right.
Min/Max Pricing
If you want to set your own minimum and maximum prices in SmartRepricer, select File Upload. If you have integrated InventoryLab or SellerRunning, choose it here to pull its min/max prices into SmartRepricer.
If you wish for SmartRepricer to set your min/max prices, choose ROI-Based Calculation or Fixed Profit Model.
Finally, click Review Strategy in the bottom right.
Review Your Strategy
Here, you can look over the settings you've selected. You also have the option to add a User Note that will appear next to your strategy on the Strategies screen.
If everything looks good, click Complete in the lower right. (If everything does not look good, you can go back by clicking Min/Max Pricing in the lower left instead.)
Creating Your Own Strategy
If you click Create Your Own, you'll be taken to the screen shown below.
Select a Strategy Type
You can create your strategy based on your preferences and priorities. You can either select one of three pre-configured strategies or create your own with Custom Strategy.
With all four options, you'll be able to establish your minimum and maximum prices.
Buy Box
The Buy Box strategy helps you win the Buy Box and adjust your repricing approach once you do. It works by specifically targeting the seller holding the Buy Box. You will be able to fine-tune the rules for getting the Buy Box and then for keeping it.
Featured Merchants
This strategy again works for winning the Buy Box; however, it sets its sights on all the featured merchants. Featured merchants are those that meet Amazon's eligibility criteria for the Buy Box.
Lowest Price
By choosing this strategy, you compete with the lowest price offered. You aim to win the Buy Box but are targeting the lowest price.
Custom Strategy
Custom Strategy lets you set your own rules from scratch. Here, you determine the competitors, how to compete with the Buy Box, and what to do once you win the Buy Box. The remaining settings will be the same as in the pre-configured strategies.
If you chose Buy Box, Featured Merchants, or Lowest Price, you can skip ahead to Getting the Buy Box now. If you chose Custom Strategy, keep reading.
Determine Your Competitors
Set your competition preferences: which competitors you will fight for the Buy Box, and which sellers you don’t want to compete with.
Choose the competition type that your listings will compete against.
Activate or deactivate Featured sellers only.
Decide if you want to exclude the following options:
Amazon as a competitor.
Sellers by their ID.
Sellers by their feedback rating.
Sellers by their feedback count.
Back-ordered sellers.
Competition with longer handling time.
Choose the condition of used items to be considered competition.
Optionally, select the time range for your last sale; items will only be repriced if their last sale falls within that time range.
When you're finished, click Continue in the bottom right.
Getting the Buy Box
From the options in the Pursuit tab:
Select how you want SmartRepricer to adjust your pricing against competitors. You'll have different settings for Amazon itself, Prime sellers (FBA and Seller Fulfilled Prime), and FBM sellers.
Choose whether and how to reprice when there is no competition or when the Buy Box is suppressed.
Decide how your price should be adjusted when the competition matches or is below your minimum price.
Create rules for sales velocity and stock quantity if you wish.
Choose whether to use your max price when out of stock or not.
Once you have finished configuring your Pursuit settings, click Continue in the bottom right.
Staying in the Buy Box
You will arrive on the Maintenance tab. Here, you'll decide what happens when you win the Buy Box, either to help you keep it or to boost your profits:
Raise Price - Based on Competition
Raise Price - Based on Your Own Price
Lower Price
Do Not Reprice
Disabled
Once you've made your choice and configured any additional settings that appear, click Continue in the lower right.
Minimum and Maximum Pricing
If you want to set your own minimum and maximum prices, select File Upload. If you've integrated SellerRunning or InventoryLab, you can choose it now to pull its numbers into SmartRepricer.
If you want SmartRepricer to do these calculations, choose ROI-Based Calculation or Fixed Profit Model. Then fill in your min and max ROI percentages or amounts.
Finally, click Review Strategy in the lower right.
Review Your Strategy
Look over the strategy you've created. (If you need to, you can go back by clicking Min/Max Pricing in the lower left. You'll see similar back buttons on the other pages.)
Enter a name for your strategy.
If you want, enter a User Note for this strategy. This will appear on the Strategies page and can help remind you of what it's for when you need it.
Finally, click Complete to finish and save your strategy.
Setting Your Default Strategy
If you don't have a default strategy yet, be sure to set one now. Open the Settings submenu on the left side of the screen and select Marketplaces.
Use the dropdowns in the Default Strategy column on the far right to set the default strategy for each marketplace.
Viewing and Managing Your Strategy
You can view and manage your strategies anytime by going back to the Strategies page.
Use the icons on the far right to take actions on any strategy:
Trash can: Delete
Pencil: Edit
Copy: Duplicate
Comment: Add User Note