Sellery’s Buy Box Optimizer Feature
Sellery is, first and foremost, an Amazon repricing tool with endless flexibility, options, and power.
While our users love to dig into Sellery and dial in very specific and complex pricing strategies, there are still many sellers out there who have a need for a more ‘out of the box’ repricing strategy that they can plug and play to get repricing quickly but still see great results.
To this end, we’ve developed a feature called the Buy Box Optimizer.
Its main goal is to automatically assist Amazon sellers in winning and/or sharing the Buy Box as often as possible and increasing profits while in the Buy Box.
The Optimizer is currently in Beta testing and we will continue to build more scenarios for which to optimize your prices.
How the Buy Box Optimizer Works?
The Optimizer has three strategies:
- Raise your price, if you have the Buy Box, to get you the best (highest) price, while keeping the Buy Box. ("Raising")
- Lower your price until you get the Buy Box. ("Lowering")
- Try to get a share of the Buy Box when other sellers are actively competing for it ("Sharing")
Requirements for the Buy Box Optimizer to take action:
There are still some requirements that must be met for the optimizer to operate on a product, although we're working towards eliminating them. If these aren't met, your defined strategy from the pricing rule will be used. The requirements are:
- There must be eligible competition - competitors in your condition that are eligible to win the buy box.
- For new condition books, the account must be on Amazon.com - third party sellers can't yet get the new Buy Box for books on other venues. (Amazon.ca will probably allow this soon as well.)
- If the prices of eligible competitors have not changed for the last 24 hours, you must have at least one of the Raising or Lowering strategies enabled if you want your price automatically optimized.
- If the prices of eligible competitors have changed within the last 24 hours, you must have the Sharing strategy enabled to be optimized for those situations.
Where can I enable/turn on the Buy Box Optimizer in Sellery:
This feature is accessed under Settings > Pricing Rules > Buy Box & Exceptions tab.
There are currently three different options that can be checked. When an item falls into a category of one of the checked options, the Optimizer will override all parts of the Pricing Rule settings except for special cases reading ‘always set an upper or lower limit to x’. Along with your Minimum price, those upper and lower limits will always be respected by the Optimizer. The options work best when used together.
Buy Box Optimizer Options
Check Box Option #1 “Raising”:
‘If I have the Buy Box with competitors who are not changing their price, optimize my price while maintaining Buy Box control.’
How it works:
When your competition hasn't changed their price in 24 hours or more, the Optimizer will make a series of smart price adjustments to zero in on the highest price in which you can still win the Buy Box and then hold it there.
Check Box Option #2 “Lowering”:
‘Win the Buy Box when competitors are not changing their price (lower my price to win the Buy Box).’
How it works:
Like Option #1, the Optimizer will make a series of smart price adjustments, but this time in an effort to win you the Buy Box from the static competition.
If you're unable to win the buy box after hitting a lower limit, the Optimizer exits and your regular pricing strategy is used. In 24 hours, the Optimizer will try again in the event that any details that could aid in winning you the Buy Box have changed, such as if you reduced your lower limits.
If the Buy Box price is already greatly below your minimum price thus out of reach, your regular pricing strategy will be used instead.
Check Box Option #3 “Sharing”:
‘Try to get a share of the Buy Box when competitors are changing prices.’
How it works:
When you have active competition eligible for the Buy Box, the Optimizer will continually adjust your price to keep you in range of the Buy Box rotation prices without triggering a price war.
Sharing the buy box optimizes your sales AND profits, but if you're unable to get your appropriate share, the Optimizer will only then become more aggressive in its efforts to win the Buy Box for you.
If you're solidly holding the buy box against eligible competition, the Optimizer will notice the opportunity and begin slowly raising your price.
You will be notified of the state the optimizer is in the Pricing Log via the following messages:
For the static competition strategies:
- Raising: "Adjusting your price up to the best price"
- Lowering to Rewin: "Adjusting your price down to get the Buy Box back"
- Holding: "Price adjustments are on hold since you now have the best price"
- Paused: "The process of winning the Buy Box will resume in <time>"
For the dynamic competition strategy:
- Trying to Share: "Adjusting your price to get a share of the Buy Box"
- Sharing: "Sharing the Buy Box"
- Trying to Win: "Trying to win the Buy Box from competition"
- Winning: "Winning the Buy Box with competition"