Amazon Pricing

As an Amazon seller, you probably know that each product can have as many sellers as it can be trying to generate sales as possible, hence, competition is indeed very extensive.

Linked with factors such as customer satisfaction levels, the number, and frequency of sales you’ve made, among other unknowns, the price of your product plays a certain role in deciding whether or not you will become the featured seller for a product.

How do you price items on Amazon?

Amazon’s algorithm is truly complex and cutting your margins through price reductions doesn’t at all times improve your position on the platform. That is why it is paramount to understand the various differences in pricing and the various pricing strategies.

Two forms of prices in Amazon that any seller needs to be familiar with, are the Item price and the Total price.

1. Item price is the cost of a product only. This is the price customers will see minus shipping costs and any other factors that may affect the total price.
2. The total price or landed price is the price with everything included. This is what the customer pays at the end of the purchasing process.

After taking all this into account, you should always try to take all the above factors into consideration when listing or repricing an item on the platform. A slight change to anything from shipping charges to discounts can make a substantial change to your product’s Amazon rank

Definitely, it is necessary to keep pricing competitive yet profitable when selling on Amazon. To do so, adjusting and updating the prices shall be necessary.

With this, I have created a short and simple procedure that has all the essential information about changing prices on Amazon's online platform.

These are as follows:

1. Log into your Amazon Seller Central account.
2. Head to 'Manage Inventory' and search for the product using an identifying number (ASIN) or its title.
3. If this is a Parent/Child variation, choose the correct 'Child'.
4. Click 'Edit' next to the listing.
5. In the 'Offer' tab, change the 'Sale Price' to what you need. NOTE: Always change the 'Sale Price' on an existing listing. Don't change the 'Your Price' option.
6. Check the 'Sale End Date' and set it to a year or more.
7. Click 'Save and Finish'. It'll take around 15 minutes for the system to update and reflect the new pricing.

Worthy to note is that, there are no cutting corners when it comes to succeeding on Amazon. It will take time with lots of trial-and-error phases. However, the results of landing the holy grail of Amazon sales are extremely worth it.

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