Staying ahead of the game as an Amazon seller is not an easy feat. Regardless of how little or big your inventory, pricing your items competitively is one of the best ways to increase sales. If your product costs too much, it will fail to attract customers. If your product costs too low, you will hardly make a profit. So what are the best repricing strategies you could implement as an Amazon seller for the new year? We have a few to share.

Effective Repricing Strategies for Q1 2019

Set Price According to the Competition

Prices on Amazon are constantly changing. As the demand in Q1 lowers down as opposed to the previous quarter, the competition slows down as well. Find out how much your competitors are pricing their products. You can price your products lower, higher or the same as your competitors. Then set up your own repricing rule.

Looking at the sales trend in Q1, last year’s report from Forbes shows that Amazon saw an increased sales in Q1. “Net online stores increased, in the first quarter of 2018, by 18%. Net subscription services sales increased by 60%.”

Using the data above, it’s important to keep a watch on when the competition starts to build up. Some customers do post Christmas shopping in January, while others redeem their Amazon gift cards in the same month.

If you want your product to stay competitive, price your items lower than your competitor’s price. Doing so gives you a better position to win the Buy Box. If you’re comfortable with how your products are selling even if it’s above your competitors’ price, then leave it as is. The trick here is to find a stable middle ground where you can profit decently and s