Here’s the three reasons repricing daily is absolutely 100% mandatory for any Amazon business:
#1: Repricing is the highest $ per hour part of an Amazon business
Weird but true: It takes just a few minutes to reprice hundreds of items. If your inventory hasn’t been repriced recently, then it simply won’t sell (more on that in a second). Repricing brings that inventory back to life, and directly translates into more sales.
It almost certainly took more time to source that inventory than it did to reprice it, but both are non-negotiable parts of making money on Amazon.
This makes repricing the highest “dollar per hour” part of your business, period.
#2: When your item isn’t “price optimized,” it effectively isn’t for sale.
If any item in your inventory that isn’t competitively priced, it’s the same as that item not being for sale at all.
Say you list an item for $25. Then you neglect to update its price. Over the next week, 10 other sellers move in, each one underpricing you by 50 cents. Now your offer is so far down the list, no Amazon customer will ever see it. And if they can’t see it, they won’t buy it. And why would they? There are 10 offers cheaper.
An un-repriced item is an item that effectively isn’t for sale at all.
#3: All Amazon businesses are two things: Sourcing and repricing
Sourcing quality inventory, and repricing it often, is this entire business.
There’s other things that can keep you busy, but if you neglected literally everything else, and only focused on sourcing and repricing, you can still make money on Amazon.
Stop sourcing and repricing, and you have no business.
Repricing is literally non-negotiable. Without it, you don’t have a business.
Want to hear me yell about this in a video?
-Peter Valley & Team Neuro