As the peak period quickly approaches, visions of crushing competitors and winning the Buy Box are probably dancing in your head. If you’re currently using ChannelAdvisor’s Algorithmic Repricer, you’ve already got an advantage over other sellers. You not only understand the importance of a competitive pricing strategy, but you’re also able to automatically apply it at scale across your product catalogue. But is a competitive pricing strategy truly enough to ensure a successful peak season? Unfortunately, that’s only one piece of the puzzle.
Did you know…
If you’re like most sellers, you’re likely missing out on potential sales by ignoring an often overlooked portion of the product catalogue…your stale inventory. Specifically, what do you have planned for the products that are winning the Buy Box but haven’t seen any sales? Despite not having any competition, these products will inevitably just sit on your warehouse shelves taking up valuable space. Fortunately, ChannelAdvisor’s Velocity Repricer is the latest intelligent pricing tool designed specifically to help you kick start sales of your stale inventory and maximise margin on the products that are selling really well.
How Velocity Repricer Works
While ChannelAdvisor’s proprietary Algorithmic Repricer helps you win the Buy Box, our Velocity Repricer allows you to automatically adjust product prices based on your goals – whether you’re seeking to extract more margin on fast-selling products or lower prices when sales are slow. Inventory, product performance and sales velocity metrics are all monitored in the background. Simply set your criteria and then watch as prices are automatically adjusted up or down based on your latest sales data.
For instance, you may have products after Christmas that tend to sit on the shelves after the season ends. With the Velocity Repricer, you can lower the price of these products down to the right level to get inventory moving again. Then, if a product begins to sell really well again, you can automatically raise its price to improve profit margins.
The Gift that Keeps on Giving
With the Velocity Repricer, there’s no need to manually check on inventory levels or study sales conditions. All of the work is done for you — and not just on one channel, but across all the marketplaces and web stores that ChannelAdvisor supports globally. It’s the most reliable method you can use to reduce spending on storage fees for underperforming products and to earn more on each top-performing SKU.
Interested in learning more? Request a demo at any time. Our e-commerce consultants are always on hand to help growing brands and retailers discover new ways to connect with more consumers.