Automatic pricing is a powerful tool that can help sellers on Amazon India stay competitive and optimize their sales strategy. By automating the process of adjusting prices based on market conditions and competitor data, sellers can save time and ensure their products are priced competitively.
In this blog post, we will provide a detailed step-by-step guide on how to set up automatic pricing on the Amazon India Seller Dashboard, enabling sellers to streamline their pricing strategy and maximize their sales potential.
Step 1: Accessing the Seller Dashboard
To begin, log in to your Amazon India Seller account and navigate to the Seller Dashboard. This is your central hub for managing your Amazon business and accessing various tools and settings, including automatic pricing.
Step 2: Navigating to Pricing Settings
Once you’re on the Seller Dashboard, locate and click on the “Pricing” & “Automate Pricing” section. This section may be found under different tabs or menus, depending on the layout of your Seller Dashboard.
Step 3: Selecting Create a Customise Pricing rule
Within the Pricing Settings section, you will find an option for “Create a Customise pricing rule” or “Repricing.” Click on this option to access the settings related to automating your pricing strategy.
Step 4: Create a new Pricing Rule:
Amazon offers different repricing methods to choose from. Evaluate each method’s features, capabilities, and suitability for your business needs. The available options may include rule-based Best Price, Competitive Buy Box, Competitive lowest price or based on sales units. Select the method that aligns best with your pricing strategy goals.
for example, I will go with the “Best price option” and once you have done that it will go to ask you to give a name to your pricing rule as you see below screenshot to follow the same instruction.
After adding all the information it will go to ask you to click on “Proceed to marketplace selection” Simply click on that and follow the next step.
Step 5: Select Marketplaces
Once you have clicked “Proceed to marketplace selection”, it’s time to select marketplace Simply click on the check box Amazon.in, and then you have to click on “Save and continue select rule parameters” and follow the next step.
Step 6: Define Rule Parameters
Once you have selected market place it will redirect you to the next option where you have to define the rule parameters.
You will get different pricing attribute rules just click on the one which you want to go with.
Once you have selected the pricing attribute then it will go to ask you to select an option which is “Do you want to continue repricing if you update your price elsewhere in Seller Central?”
What is Continue Repricing?
When you create a rule, you can now choose to continue repricing or pause repricing after updating prices elsewhere in Seller Central using feeds, Manage Inventory, or Manage Pricing.
This means that the SKUs that are assigned to your Automate Pricing rule will continue repricing even after you update your prices elsewhere.
If you want to go with this simply check on the “Yes box or else you can select “No”
After selecting desired option simply click on the “Save this rule in Amazon. in” and it will redirect you to the next step where you have to select the product SKU to implement this pricing rule which you have created.
Step 7: Manage SKU’s Selection:
Once you have clicked on proceed with SKU selection it will redirect you to the manage SKU page where you have to select on which product you want to run your automatic pricing rule. As well as it will go to ask you to add your minimum and maximum price range before activating this pricing rule.
Once you have done with minimum and maximum pricing simple click on the drop down arrow button with take action button and it will show you multiple options, go with any desired option you want to opt.
As I have selected minimum and maximum options it will redirect you to this page which I’ve mentioned in the screenshot. Cross-verify all the details and simply click on the “Start Repricing Rule”.
Step 8: Analyzing Results and Making Iterations
Once automatic pricing is in place, regularly analyze the results and gather data on the impact of your repricing strategy. Pay attention to metrics such as sales volume, Buy Box percentage, and profitability. Use this data-driven feedback to refine your repricing rules, experiment with different strategies, and iterate on your pricing approach to continually improve your results.
I hope this blog found useful to you.