There has been no official statement about the reasons behind the change, but it’s safe to presume that one of the factors is the growing number of requests. Partial refunds, for example, may spike on Cyber Monday, Black Friday, or Prime Day. Furthermore, the organization stated some challenges with handling this type of return. You should know about Does Amazon Price Match? Moreover, some customers took advantage of Amazon’s lenient policy by requesting illegal returns, which cost the company a lot of money.
Know about repricing on Amazon
To gain a better position in the marketplace, many vendors undercut their competitors by $00.01 or £00.01 on average. The act of undercutting competitors is known as repricing,’ and it can be accomplished by:
- Manual Repricing
You have the option of repricing yourself as a seller. This entails manually altering the price through Amazon Seller Central – or other sites if you’re using a third party to manage your products. Because it is time demanding, this will only work for merchants with a few things. It does, however, help you comprehend your own and your competitors’ items and prices.
- Complete command
- It’s easier to comprehend your products and competitors when you take a hands-on approach.
- Only useful for product catalogs with fewer items.
- It is time-intensive.
- You can overlook something depending on your previous experience.
- Amazon Repricing Tools
Repricing systems like Xsellco, RepricerExpress, and RepriceIt can be used to automatically undercut competitors on the duplicate listing, which can help with the competitive nature of pricing. You can also specify a minimum price to ensure that the system stays profitable.
Repricing tools operate in one of two ways:
- Repricing based on rules
This type of tool is based on the seller’s guidelines. Undercutting £0.01 is an example of a rule. Again, the vendor will have to put in some time to set things up.
- Repricing by algorithm
This is the most advanced tool available. It’s an algorithm-based tool that considers various factors to calculate the most excellent price for your item while maximizing your return on investment. It feels everything required to win the buy box, allowing the seller to see the best return rate.
While this increases your profit margin, consider that algorithmic repricing solutions are more expensive and are best suited to professional sellers with a large inventory. When evaluating different types of repricing software, there are advantages and disadvantages to consider. However, if you’re new to repricing, using an Amazon repricing tool is recommended.
How to Keep an Eye on Amazon Price Changes
Several tools and browser extensions are available to help you keep track of Amazon price changes. They allow you to save time in your search for the most excellent offer. You’ll also be notified if the item’s price you’re interested in changes.
Even though Amazon’s return policy has been tightened, there may still be a method to secure a partial refund. If you are turned down, you can always file a request with your credit card company. However, it is preferable to save oneself the trouble and refrain from making impulse purchases. Take your time to compare costs and shop when you find a good deal.