If you sell books on Amazon, you will encounter a period of 4-5 weeks twice a year, when you can expect to see higher than normal sales for your educational textbooks. It’s during the August and the December month. So, what should be your pricing strategy for textbooks during these period to get maximum profit.
Well, you can either:
- Price Low, clearing inventory as fast as possible.
- Price High, to maximise your profit returns.
Pricing Low may help you make quick sales, but you could miss opportunity to earn more.
Pricing High may help you maximise your profits, but you always run the risk of competition prices dropping before you can sell yours.
Preferred pricing strategy for textbooks is to look at the books’ salesrank while making the decision to go with either strategies. For example, if the salesrank is less than say 100K, it indicates sustained demand and you could see other prime offers to decide if you should reprice it lower (if there is a significant competition) or consider potentially rising the price to maximise your profit returns.
How to reprice?
You don’t need a repricing software or anything special. But, if you already use on of these softwares, it is still better to put human eyes to it. You can use tools available within the Seller central to reprice your textbooks. Follow the steps below:
Step 1. Got to the Manage Inventory page and click on the Preferences box in the upper right hand corner.
Step 2. Check all the options with the “(Recommended)” text along with “Sales Rank” and the “BuyBox Price”. For books, the Buy Box Price will be Amazon’s offer, so you can ensure your price isn’t too close (or higher) than Amazon’s.
Step 3. Scroll down to change the “fulfilment” combo-box. Change it to “Listings with the same fulfilment method” – in order to list only the lowest prime offers, and not the merchant fulfilled ones.
Step 4. Use the data that populates to make a wise repricing decision.
So, that’s all for now! Thanks for reading.