How to price products is an ever-recurring question asked by sellers within Nembol e-commerce academy. Question is related to both:
- What price should one set, and
- How can one automatize the price dynamics with little effort and absolutely no mistakes.
We recently published a couple of articles on this matter within Nembol e-commerce academy, following are the main take-aways:
- Repricing software exists on the market (here's an example), but is often complicated to setup, works related to competition, and represents to a seller one further subscription with its cost and constraints.
- Amazon, allows sellers to easily move their prices only downwards, with the rule Match low price.
- Prices on the contrary can and should be differentiated up or down a) per channel; b) per product / set of products; c) per time of the year / season.
- Flash changes in prices for subsets of products for a given period of time are a great way to generate a call-to-action to be shared. Therefore the automation must allow to easily move price both down and up again.
- Price rules may be used also to account for currency conversion, for advanced sellers using multiple marketplaces not all configured in the same currency.
Nembol built-in price rules easily enable all of the above, they don’t force a seller to bind prices to something done by the competition, and can be used to move prices of up to thousands of products at a time in a matter of seconds.
Read more in our articles. Or check our fun video.
