Exploring the intricacies of rapid repricing, Flashpricer sets the bar high for platforms like Amazon and Walmart.
In an interview with
Website Planet, Jordan Schanzer highlights Flashpricer’s commitment to pushing price changes instantly to Amazon, without metering or batching, ensuring all customers benefit from the fastest repricing speeds. At Walmart, Flashpricer’s near-instant price reflection and proprietary competition score algorithm provide as close to real-time data as possible.
This unmatched speed and accuracy in repricing offer sellers a significant competitive edge, transforming their pricing strategies with real-time Buy Box data and effective customization options.
How does Flashpricer ensure its repricing speeds are the fastest in the market, especially for platforms like Amazon and Walmart?
a. Amazon | We push our price changes to Amazon instantly, and they are reflected on the marketplace as soon as Amazon accepts them. We don’t meter the number of events we push to Amazon or batch price changes together every 15 minutes like some other software. We go full throttle. We also don’t restrict fast repricing speeds to our more expensive plans. Every one of our customers gets the fastest possible repricing speed. The only limit is how fast Amazon accepts the price change, which can sometimes delay things by a few minutes.
b. Walmart | Our price changes are reflected almost instantly on Walmart. Don’t believe us? Try it for yourself. By the time you refresh a listing, you’ll see your new price showing on the front end of Walmart Marketplace. We outpace even Walmart’s own internal price. Then when looking at your competition’s price changes, we also use a proprietary competition score algorithm to help us prioritize which listings need to be monitored more closely and updated more frequently. The result? As close to real-time data as you can possibly get on Walmart Marketplace.
Can you discuss the advantages of Flashpricer’s real-time Buy Box data and how it impacts pricing strategies?
Walmart’s API returns outdated, missing, or incorrect Buy Box data over 40% of the time. So if your repricing software uses that data in order to decide how to price your products, you’re often left flying blind. If you’re trying to undercut the current Buy Box price by $0.01, but you don’t know the up-to-the-second Buy Box price, how can you make the right adjustments?
Flashpricer ensures accuracy by validating and proactively checking for missing data. We do this with a variety of unique and proprietary methods, including our Competition Score Algorithm which helps us prioritize which listings need to be monitored more closely and updated more frequently. The result? More effective pricing strategies, as sellers are able to make informed decisions based on reliable data. Ultimately, this leads to increased sales potential and a significant competitive advantage for our customers.
What customization options does Flashpricer offer to sellers who manage multiple channels and need diverse repricing rules?
If you manage multiple channels, you probably have a few different Amazon stores or a few different Walmart stores. Flashpricer allows you to exclude specific sellers by name from a strategy. That way, you’re never competing against yourself or your partners.
We also have MAP pricing functionality that will respect any rules or regulations around a Minimum Advertised Price across all of your sales channels. Also being able to sync all of your cost information from one place and then have our software calculate minimum and maximum prices for different sales channels while factoring in the unique selling fees, is super convenient.
How do you handle data accuracy and ensure that pricing updates are based on reliable information?
We don’t simply rely on the Amazon or Walmart API and blindly trust that it’s giving us the right info. We use third and first-party data sources to validate and proactively check for missing pricing info. This is our huge competitive advantage, so we can’t give away all of our secrets. But we encourage you to test it out for yourself. Go to Seller Center and run a Buy Box report.
Then export it and spot-check a few of your listings against what is shown on the front end of Walmart Marketplace. You’ll quickly realize that the data doesn’t match up for about 40% of your listings.
If you are repricing against it with Walmart’s internal repricer or any other software that claims to be able to reprice on Walmart (Informed. co, SellerActive, Seller Snap, Repricer.com, GeekSeller, etc. ), you’re basically flying blind.
Could you explain how Flashpricer’s multichannel approach benefits sellers who operate on platforms like Shopify and Google Shopping in addition to Amazon and Walmart?
We don’t offer Shopify and Google Shopping functionality yet. However, we do support managing your Amazon and Walmart listings all in one place (and you’ll be able to do that with other marketplaces soon).
It’s very convenient to have separate bespoke repricing strategies for Amazon and Walmart, but be able to sync your cost information from one unified source. You can view all of your listings in the same platform and apply all of your custom rules with ease.
You can even set MAP prices for specific items or offset your price on another marketplace by a certain percentage or dollar amount. It ensures your listings are optimized on both Amazon and Walmart and never sell below your minimum acceptable threshold, even as selling fees might differ across platforms.
What future enhancements or features are planned for Flashpricer to further support e-commerce sellers in optimizing their pricing strategies?
The biggest feature on our roadmap right now is support for private label listings with no competition.
Flashpricer will soon offer sales velocity tools that automatically find the optimal price while always staying above the minimum profit goal, and automated experiments that adjust pricing based on best sellers’ rank, ad spend, and time of day, and optimize for both profit margin and sales velocity.
Find out more at:
www.flashpricer.com
