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ChannelEngine: repricing

About this article

This article describes ChannelEngine's automated repricing feature, how it works, and how its many settings tin be configured.

Table of contents

Introduction

Requirements

Manage reprice rules

• Add a new dominion
• Edit and delete rules

Repricer rule settings

Target buy box

• Subtract your price to become the purchase box
• Increase the price while keeping the buy box
• Target the buy box - output example

Target fee reductions

Scenarios

Previewing changes

Choose your competition

Check out the competition

Introduction

ChannelEngine offers the pick to reprice your products on several marketplaces, based on competitors' prices. When using the repricer, yous can prepare variable price rules for your products based on the prices other merchants use. If those prices change, your prices change according to your settings.

Currently this feature is merely available on certain channels, including Amazon, Bol.com, and all Mirakl-based channels (e.g.: Blokker, Decathlon, fonQ, etc.), only more than could follow – provided that the channel shares competition prices.

There are 2 options to target your repricing on, plus a third option available only on Bol.com:

• Target the lowest competitor
• Target the purchase box
• Target fee reductions (only on Bol.com)

Repricing tin can be managed via Aqueduct details > Pricing > Reprice rules.

NB: reprice rules override any other Cost rules you may have fix for your products, however, price overrides trump the reprice rules. Currency conversion still applies, if configured.

Requirements

• A product listing

Think about the products you want to reprice. Is this your complete offering or a but a subset of it? E.g.: a specific brand or product group.

• Buy prices

While non mandatory, it is recommended to offer purchase prices in your product feed, shop or ERP organisation. Without buy prices, it is difficult to reprice on low margin products without the risk of selling beneath the purchase price.

• A top 20 product listing (merely for Amazon repricing)

To use the repricer on Amazon you need to be in the summit 20 for the products you add together to the repricer.

• Your Bol.com sales number (merely for Bol.com repricing)
Your sales number can exist found under Settings > Business relationship in your Bol.com account. Notation that Bol.com allows the request of price and competitor information on upwards to 18,000 unique products per hour. If you have tens of thousands of products in your listing, it tin can take some fourth dimension earlier price updates are retrieved and products repriced, if applicable.

Manage reprice rules

Add a new dominion

1. To add a new price rule, select +Add under the Reprice rules tab.



2. You are then redirected to a page listing repricing settings. These settings, when seen for the outset time, might be a bit overwhelming. Properly configuring the repricer is non a simple task, but do makes perfect.



3. As settings are automatically on preview, you have the opportunity to see what happens to your prices before activating them. Brand sure to check the preview for several products before saving the cost rule.



4. If you are happy with the newly configured cost rule, select Save. If you check the 'Preview' box, y'all tin can see the projected changes. By checking the 'Active' box, the outcome of the price rule is exported to the marketplace – if the upshot is a repriced toll, and in that location is no price override active.

Edit and delete rules

You lot can edit an existing price dominion by selecting the pencil icon by the desired list, under the Reprice rules tab, which brings you to the price dominion settings page.

To delete a cost rule, select the trashcan icon by the desired listing under the Reprice rule tab.

Repricer rule settings

At the peak of the Reprice rule page, you see the master settings practical to your repriced products.

Individual settings

• Marketplace - while you cannot change this setting for an existing reprice dominion, it shows to which aqueduct the rule applies to.
• Proper name - the name of your reprice rule. Brand certain to use a descriptive name if you have several listings and individual reprice rules, then you lot tin easily see to which list information technology applies.
• Listing - the product selection list to which you lot want to utilize the repricing. If you take multiple product selection listings and want to reprice all products included, you demand to gear up multiple reprice rules.
• Filter by - if you simply want repricing practical to the last number of products, y'all tin set a minimum stock number from which the rule is applied.



This is an optional setting. East.g.: if you lot enter a value of 3, only products with a stock of 3 or lower are included for repricing.

• Min. price - select the price attribute used as the base value for the Minimum toll used by the repricer.



If yous have price rules for this listing, you tin can use the output from this price rule as the input for the minimum price. Equally well as the regular Price attribute, you can also use the Purchase price or Catalog price for products if they are available. Side by side to the attribute input, at that place are two fields to increase or subtract the cost: a percentage-based input; and a fixed-value input.

In the example to a higher place, the input price value is increased by fifteen%. A value of two in the fixed-value input field increases the price by 2.00. To lower the output price, add together a minus to decrease prices with that percentage or fixed value.


E.one thousand.:  (Input) Toll = 10 | +10% | -0.l Result = 10 + (0.1 * 10 - 0.50) = 10.50 		 (Input) Buy cost = 25 | + 100 % | + 2.50 Result = 25 + (ane * 25 + ii.l) = 52.fifty<br>          

• Max. price - select the price attribute that is used as the base of operations value for the Maximum price used by the repricer.



If yous have price rules for this listing, you tin can employ the output from this price rule as the input for the maximum toll. Every bit well as the regular Price aspect, y'all can also use the Purchase price or Catalog price for products – if they are available.

Next to the attribute input, there are two fields to increase or decrease the price: a percent-based input and a fixed-value input.

In the example above, the input price value is increased past xv%. A value of two in the fixed-value input field increases the price by 2.00. To lower the output price, add together a minus to decrease prices with that per centum or fixed value.


E.g.:  (Input) Price = 19.95 | -two% | -1.26 Upshot = xix.95 - (-0.02 * 19.95 - 1.26) = 18.29  (Input) Itemize Price = 50 | +33% | +0 Effect = 50 + (0.5 * 50 + 0) = 75.00<br>          

• Repricing - prepare how, either every bit a percentage or as a fixed value, you want your toll to exist in relation to the competitor with the lowest price (or Target everyman). Note that this setting is not uniform with Target buy box or Target fee reduction, and you tin merely utilize ane of these iii options for repricing.



As with the minimum and maximum prices, yous tin can add or subtract a specific percentage or fixed corporeality to the price of the lowest competitor. If you enter -5%, as in the example above, your cost is lowered by 5% in comparison with the lowest competitor. If you enter a fixed value of 5, the repriced price is increased by 5 – based on the lowest competitor.

E.g.:



Lowest competitor = 82.14 Repricing = -five% + 5 Consequence = 82.14 + (- 0.05 * 82.14 + five) = 83.03          

Because this price of 83.03 is lower than the set minimum price (a scenario which is discussed after), the minimum price of 87.81 is exported. If the minimum price was 82, the repricer would have exported a price of 83.03.

Target buy box

Besides repricing in relation to your competitors, you lot can also set the reprice rule to target the production's buy box. This option is only available if the market place tin provide ChannelEngine with information about the winner of the buy box, and you cannot apply this simultaneously with target fee reductions.

Note that none of the Mirakl-based channels, with the exception of Blokker, shares their own prices and purchase box information – so this selection cannot exist used with them.

The Target buy box pick incrementally decreases or increases your cost based on your purchase box position and external triggers. If you have not won the buy box, ChannelEngine incrementally decreases your price until it has reached the buy box or your minimum price.

The incremental steps downward are taken based on your buy box position. If you have added a value under Increment price past, ChannelEngine also increases your price until y'all take lost the buy box – and then automatically decreases the price to reach it again. The incremental steps upwardly are taken according to changes in the competition data, provided by the marketplace.

NB: targeting the buy box is a complex repricing mechanism, and it is not the best repricing option in some situations. Using this choice is only recommended for products with many competitors and frequent price changes. In well-nigh other scenarios, targeting the lowest seller provides merchants with improve and faster results.

Decrease your cost to get the buy box

This applies your regular repricing rule first (see in a higher place) with the first consign only, but if this does not give you the purchase box, the cost is decreased in steps until you take reached the buy box – or your minimum cost is reached.

The timing of the decreasing steps depends on the update speed of the price and buy box alter by the marketplace, which tin can vary between one hr and one day. Notation that these are external triggers which can not be sped up, the repricer depends on the information that ChannelEngine receives from the marketplace.

Equally ChannelEngine matches the price of a competitor only with the first export and incrementally decreases the price based on buy box information, this option might not work equally quickly as you need. In this case, information technology is recommended that y'all uncheck this box and use regular repricing. You can later switch on Target purchase box again to incrementally decrease the cost.

You can only always reach the buy box if your offer is considered Buy box eligible by the alter. Marketplaces are secretive about the exact rules determining who wins the buy box. Although it does have a large bear on, the toll of a product is non the only factor, so brand certain that your delivery times and ratings are good. If you are EUR 1.00 cheaper than your competitor, simply your client rating is l% and your competitor'south rating is 95% (with a faster delivery fourth dimension), this competitor is likely to win the buy box.

Increase the price while keeping the buy box

You tin as well enable the selection to increase the price once more, in one case y'all have gained the purchase box. If you set the pace to a value higher than 0, the increment is enabled. The price is increased until the buy box is lost, or your maximum cost is reached.

Prepare the value to increase the price with each step. Every bit y'all are likely to lose the buy box in one case the price increases, you must set a threshold to trigger the increment. The threshold is the alter between your current reprice by the regular repricing (i.e.: before the buy box targeting) and the previous reprice past regular repricing (i.eastward.: earlier the purchase box targeting) equally a per centum. As your regular reprice by regular repricing (i.e.: before the purchase box targeting) changes depending on your competitor's prices, this triggers the increment when they have raised their prices or have fallen abroad.

E.g.:

A

• Threshold - 10%
• Previous regular reprice (before buy box targeting) - EUR 100
• Current regular reprice (before buy box targeting) - EUR 105
• Increase price? 100 * 110% = 110. Is 110 < 105? No, hence do not increase price

B

• Threshold - x%
• Previous regular reprice (earlier buy box targeting) - EUR 100
• Electric current regular reprice (before buy box targeting) - EUR 115
• Increment price? 100 * 110% = 110. Is 110 < 115? Yes, hence increase price

NB: increasing the price only happens if the price was previously lowered to target the buy box. If yous win the buy box directly with the regular reprice rule, ChannelEngine does not try to increase it.

If you lose the buy box due to the increased price, the price is decreased again until you lot win the purchase box over again.

Below the threshold: other triggers

If the threshold is not met, changes other than the price trigger an increase in your toll. These changes are:

• Fulfillment status (non whatever more or vice versa)
• Purchase box winner status (not any more than or vice versa)
• Shipping time status (shorter, longer, out of stock)
• 10% increment/decrease in toll (incl. shipping)
• ten% increment/decrease in seller rating

Target the buy box - output example

Note that if y'all enable Target buy box, the preview changes too and contains a lot more information. The repricing flow describes step by step what changes are made or non – and why. Brand certain to have a close look if you do not immediately understand why a certain price is outputted by the repricer.

One time the threshold to increase the toll is triggered, it shows upward as In increasing session in the increasing steps following information technology. The price is increased until the buy box is lost, or the maximum price is reached.

Target fee reductions

If enabled, the repriced price is lowered to the channel's maximum cost for a fee reduction, if bachelor and if this price is not below your minimum toll. This option is merely bachelor if the marketplace offers fee reductions, which currently is the instance only for Bol.com. More information on this tin can be establish on the commodity Bol.com: fee reductions.

This option cannot be combined with targeting the buy box or the everyman competitor.

Scenarios

Information technology is possible that lowest competitor's price is lower than your minimum toll or higher than your maximum toll. You can set rules to define what happens to your price in those situations.

You tin can choose to not alter annihilation at all, leaving the price as it is. You can also cull to employ the minimum price when the toll is lower, and the maximum toll when the price is higher. When there is no contest at all, you can also cull to not reprice or utilize the maximum price.

Possible scenarios

• If lowest below min. price - if, for regular repricing, the current cheapest competitor is offer a price lower than your minimum, you lot can choose what to practise. The options are Ready your minimum price or No repricing.
• If lowest above max. price - this is unlikely, merely possible. If your cheapest competitor is offering a cost that is higher than your maximum price, you can choose what to do. The options are Ready your maximum price or No repricing.

NB: if any of the in a higher place settings is configured, prices are increased or decreased incrementally – according to the values you prepare.

• If no competition - if there is no contest and you are the only seller for a product, there is no competitor toll to reprice on. In that location are iii options for this scenario:
  • Max. price - exports your maximum price every bit the price for the production.
  • No repricing - exports your regular toll, with cost rules applied – if applicative.
  • No repricing unless below min. price - exports your minimum price, if your regular toll is below that. This prevents selling items with a very low price, if your base prices are very low.
  • Min. cost - exports your minimum price equally the cost for the product.
• If nothing has been imported yet - if ChannelEngine has not imported any competition data. The two options for this scenario are:
  • No repricing - exports your regular price, with cost rules applied – if applicable.
  • Min. price - exports your minimum toll as the price for the product.
• If Target buy box is checked:
• Min. price - exports your minimum cost, fifty-fifty if the buy box winner has a lower toll than you.
• No repricing - exports your regular price, with toll rules applied – if applicative.
• If purchase box below min. price/If buy box winner - the label and options change if y'all selectTarget purchase box.
• If Target buy box is non checked:
  • Reprice - the exported cost goes up or down with the configured increments, based on external triggers.
  • Keep electric current cost unless below min. price - the price remains the aforementioned, unless your product is currently offered for a price lower than the prepare minimum price.
• If excluded seller has the purchase box - this setting is related to the Compete with department, which is covered beneath. The three options for this scenario are:
  • Include anyhow - the seller is included, overriding the value selected under theCompete with section.
  • Don't target the purchase box/regular repricing - exports your repriced price, simply the buy box is not targeted.
  • Keep current price - keeps the toll that was last exported, with no changes.

NB: these scenarios are only agile if there is repricing information available. If there is no competitor information available, the result is no repricing and the regular price, with price rules practical if applicable, is exported.

Choose your competition

You tin can choose your competition. Compete with the marketplace itself, merchants using the fulfillment services, buy box-eligible merchants and winners, or choose manually – based on the seller rating or aircraft times. You can besides include or exclude specific shops by adding the store proper noun or Seller ID.

• Seller groups - select with what seller groups you lot wish to compete. By default, all groups are selected, simply if you would like to exclude sure groups, such as the market place itself, you can uncheck the related boxes.

NB: the requirements that make a merchant 'buy box eligible' or not vary per channel, and each channel has their own algorithm giving more than or less importance to each requirement. If you lot want to use this feature, brand certain to continue a close eye on the results – and adjust accordingly.

• Max. aircraft time/out of stock - exclude sellers that accept a very long aircraft fourth dimension by setting a maximum number of days for the commitment fourth dimension you wish to compete with. Y'all can also enable competing with sellers who take a listing on your production, but no bachelor stock.
• Min. seller rating - exclude sellers below a certain rating threshold. If there is a seller with a lower price but a bad rating, y'all might not want to compete directly with that seller and lower your price to their level.
• Min. seller rating count - exclude sellers that have few ratings. E.thousand.: if a seller is new and has 2 five-star ratings, the results is a total seller rating of 5 stars. On products with many different sellers, y'all may want to exclude these new sellers.
• Sellers - include or exclude specific sellers, if you know their shop name or Seller ID.

Previewing changes

All changes made in any of the previously mentioned options and settings can be previewed. The preview changes with every change you make. At the top, you tin can see the production you are repricing. If you are repricing an entire listing, it shows i product as an instance. If y'all want to preview a dissimilar product in that listing, enter its SKU, its EAN/GTIN, or its proper name in the search bar.

You can run across the repricer in action below the product case. E.one thousand.:

Toll: 39 Catalog toll: 65 Buy price: twenty.90 Min. price: Price - ten % + 0 Max. toll: Catalog price + xx % + 0 Repricing: -i % + 0 Target buy box/Fee reductions: off        

Min. cost

Min. price = 39 (Cost) + (- 0.one * 39 + 0) = 35.x

Max. price

Max. price = 65 (Catalog Price) + (0.2 * 65 + 0) = 78.00

Repricing

There is one competitor, whose toll is currently 44.95. 44.95 + (- 0.01 *44.95 + 0) = 44.l. No scenario is triggered, so this price of 44.50 is now exported to the marketplace until something changes. This modify tin be both internal (e.thousand.: ane of your prices changes, causing the minimum to get 45) or external (e.g.: a new competitor appears and has a cost of xl).

Scenario triggered/No repricing

At that place are scenarios where no repricing is applied. You accept straight control over some, as discussed in the Scenarios section. Others are caused by external systems.

Side by side to the 4 scenarios which you lot can gear up to No repricing, repricing is also applicative when there is no competition information available from the marketplace. This might exist due to a product being quite new, or to a technical upshot with the fetching of this data on the marketplace. If you lot have no competitors for a product, no repricing is done either.

Bank check out the competition

Y'all can meet where the prices come from this list of competitors. The ane in orange is your own store (i.e.: the preview). In this example, the preview differs from the shop price considering there is an agile listing that repriced the product.

The competitor marked with the 'x' is the store that is excluded. That is due to the rating of 57%, which is below the threshold of 75% and higher.

NB: brand certain to enter your Seller ID correctly in the channel settings. If this is wrong, the repricer will consider you a competitor and y'all may automatically continuously lower your prices based on your own price.

Annotation that if y'all are using the Mirakl repricer you lot might as well be competing with the marketplace itself, but that data is not available – so at that place is no guarantee you take the absolute lowest cost or the purchase box. The channels where this applies show a warning at the meridian of the screen.

When you are happy with the results, you lot tin can modify the preview fashion to agile and select Save – ChannelEngine does the rest. When the competitors' prices change, yours changes according to your settings. You can change these settings whenever you want and they are automatically forwarded to the marketplaces, only like the normal price rules.

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Source: https://help.channelengine.com/article/47-repricer

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