e-Commerce have made a huge progress in today’s world and online shopping is the easiest way to get your hands on every item that you may need ranging from luxury items to goods of daily needs. A few clicks sitting anywhere in the world and you get the stuff delivered at your place. So no more walking for hours in a physical marketplace and getting confused among choices. Also there is no chance that you will not get your hand on items that have the same quality but lowest price.
What is meant by this is that in a physical market as per your health and stamina you may visit five stores looking for a certain item and then you buy the stuff from the shop which offers the lowest price among the five shops you have visited. But there is a possibility that the sixth shop that you did not visit is having the same item and selling it at much lower price that what you paid. But shopping online you can have a look at the prices being offered in other online portals at a glance and then decide from where you want to buy the product.
Best way to increase your sales will be automated pricing. Now Flipkart, Amazon are the online business giants where small vendors sell their products and earn profit. These online merchants are already known among the people at a large scale. So if you had been selling your product at your site there was a fair chance that the business would have gone unnoticed. But if you sell your product on these domains then definitely your product will come into notice.
There are a few easy ways to handle pricing strategy on Flipkart and Amazon. BoxnSights have got some smart repricing application that involves best in class algorithm which helps to fetch much larger margin of sales of a product and profit on an even larger scale. Automated pricing reduces the work load and the time taken. The application once set on auto pilot mode will assign optimum price to your goods being sold on Flipkart, Amazon. This will make people buy stuff from you whenever they will find that on price comparison list your product is showing lowest price. The repricing application also makes sure that you never incur a loss on any product. Whenever these is the slightest possibility it will try to help you make profit.
Also the algorithms adapt themselves as per the requirement of different platforms thereby making your business reach the heights. The application helps to capture the competitive price on real time basis and set the price dynamically which will help to capture Buybox efficiently. Automated pricing allows you to compete with the changing prices on real time basis. The customers have seen around 30%-40% increase in Buybox winning which eventually increases the sale. The application itself provides real time correct data and help to adjust the brand value. An extra advantage of using BoxNsights application is that you as a seller no more have to stress about the pricing strategies. You can rather invest the same time in expanding the business.