Pricing Solutions for Private Labels
Amazon is a very price-sensitive marketplace, therefore, using the right pricing strategies will substantially expand your ranking and sales amount. Your private label pricing approach and strategy have to embrace according to this reality. Therefore, once you have decided your price for a product, most probably you will need to evaluate price alterations or repricing based on updates in your category and competitor’s behavior. Indeed, you can make repricing manually, which is quite time-consuming, or you can start using EVA – which offers several different pricing solutions/strategies for your Private Label business on Amazon.
- Demand/Trend/Seasonality Based pricing
- Inventory Levels Based pricing
- Sales Velocity Based pricing
- Similar ASINs based pricing
- Parent-Child relationship-based pricing
Demand-based pricing works based on the last 24 months of data and AI calculates the best price to maximize the profit for a given sales velocity.
Inventory-based pricing increases the price for a given inventory days threshold and once there is a shipment price goes back to the initial point and demand-based pricing starts.
Sales Velocity pricing
Sales Velocity pricing automatically adapts prices (in a range between minimum and maximum price) to receive defined sales velocity target (number of units sold per day) based on historical data.
Similar ASINs based pricing
Similar ASINs based pricing allows you to both monitor and competes with similar products that might be a substitute for your product, even though these products have different ASINs.
Parent-Child pricing allows our customers to configure each of their Child ASIN’s prices according to the Parent ASIN. Since many Amazon brands have many variations of a single ASIN, sometimes there is a need for different pricing solutions such as size, color and different batches.
So, at EVA we know that Private Label sellers have a specific need to find the correct price for their unique products. Our AI-powered solution will automatically calculate and set the correct price of your listings every 24 hours by using up to 30 days of price information. Eva does this by using built-in supply and demand equilibrium pricing according to trends, sales velocity, and seasonality so your prices are always optimal. Doing that manually would require heavy and constant analysis! Furthermore, to make sure you always have products in stock, EVA can adjust the price to show you sales velocity when your inventory is low and help you stay in stock with your most profitable items. This means that you cannot only have the best price for your product but also will be able to control how it behaves according to your needs with our multiple feature settings.