When it comes to consumer purchasing decisions, it’s no surprise that price is one of the key influencers. One study found that more than 90% of online shoppers invest time online to search the best deals for products they are purchasing.
With competition on marketplaces continuing to rise, price is critical to your success. At the same time, you want to maximize your revenue. As a result, many online retailers have begun implementing marketplace repricers to remain price competitive while also maximizing margins. If you aren’t using repricing technology, why not? Repricers eliminate tedious, manual work from your (and your staff’s) day so you can focus on tasks that can’t be automated!
Maybe you aren’t using repricers because you want to maintain competitive pricing across channels. Repricers typically run independently of each other, so you may be advertising different prices on different marketplaces. And that can lead to trouble. Walmart, for example, has enacted automatic rules to find and remove uncompetitively-priced items from its marketplace. And unpublished SKUs can lead to not only gross merchandise value (GMV) loss but also account suspensions. What can you do?
Meet ChannelAdvisor’s New Feature, Price Manager
Price Manager is here to help you implement a pricing strategy that keeps you both competitive and compliant. By adding our new platform feature, you can adhere to pricing requirements by aligning your prices across multiple marketplaces as well as your ChannelAdvisor-supported webstore. And Price Manager is not isolated to only the marketplaces that we offer repricers for — we push the lowest price to all supported marketplaces and webstores.
Price Manager allows the different marketplace repricers to act independently to determine the best price for each marketplace and then applies the lowest price everywhere. Not every business task can be automated, but why not gain an advantage with those that can?
If you have been afraid of utilizing multiple repricers because you want to maintain a consistent cross-site price, this is the tool for you. Using Price Manager is easy and will save you time by automating your competitive repricing strategy!
Advantages of Price Manager
Price Manager helps you:
- Win the buy box
- Maximize margins
- Comply with your multiple marketplace contracts
- Save time
Don’t lose sales during the most competitive time of the year. Use ChannelAdvisor’s Repricing and Price Manager features as a winning combination, giving you the best competitive advantage during this holiday season.
For more information, search keyword “Price Manager” on the ChannelAdvisor Community.