Product price is one of the major factors that resellers and hijackers compete against. Your product price has a great impact on winning the BuyBox. This is especially true in case of products that are similar. Most people tend to choose the lower priced product unless it has other differences. Price Trends gathers all the changes in the product pricing to help you choose a product that does not fall into the pricing war. If you are tracking your competitor product, pricing trends help with repricing strategies to keep your hold on the BuyBox.
How to analyze the pricing trend graph to choose a product to sell? Sharp dips happening frequently can indicate that competition is heavily based on price. Also, check the number of sellers offering the same product and are tagged into the same listing. It is often better to choose categories and products that have a lower chance of a pricing war. Tracking the product pricing over time is also a good idea as part of your analysis to price better than your competitors.
Where to find this feature?
Login to SellerApp > Dashboard > My Products > Click on tracked product By default, you'll be in the Product Overview page. Scroll down to find Price Trends
Read NextRepricing products is not a very good way of buying the advantage to win the BuyBox. It eventually leads to reduced profit margins and might lead to no profits. This is especially true for products that are easily sourceable. When analyzing your competition, pricing comes into it but it’s more about whether you will be able to offer a similarly priced, yet differentiated somehow. Rather than getting into the pricing war, offer a product that is differentiated. Eg. try improving the quality of the product. Offering products of a better quality give you a better advantage over your competitors.
What to do Next?SellerApp helps you keep track of competitor pricing with the help of Alerts. For a competitor product, head to Insights and click on the Manage Alerts Button. Set a pricing range below which you want to get notifications to your email. You get a notification email each time the price is lowered below the range set.
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