How can Google shopping repricing help?
Google Shopping Repricing feature will allow you to set a price for your product by comparing it with competitors. The software inputs listings of all sellers and vendors on the Google Shopping tool and calculates the best price. A lot of factors are taken into consideration using this tool.
With the KartKonnect Google Shopping Repricing feature, you can recognize how pricings are changing in the market place every day. A retailer can keep track of new entrants in the competition and optimize price accordingly. The added advantage of this feature is that no matter what platform a buyer is on, your pricing will be the best one. Since the software considers every parallel competitor of your item in the market, it makes a comprehensive pick.
An example might help you understand better
Let’s say you own a camping gear product line. There are over hundreds of retailers with the same business, advertising their products. The KartKonnect repricer will go through listings of all those retailers for you and present the best price. At the start of the season, you can set a price that is high yet attainable. While at the end of the season, you can modify it with the number of seasonal retailers left.
How does the repricing by KartKonnect function?
The KartKonnect Google Shopping Repricing feature takes into account two important pointers: Google Product Rank and Product Price Rank.
Whenever you search for products online, Google populates the top five products. These products have the highest Google Product Rank. KartKonnect helps in displaying your product among the top 5, and build credibility for your brand. This ends up in attracting the first-time buyers.When people look for guidance on which product to buy, most of the time ‘top-rated’ and ‘best’ searchers appear early. It will increase brand awareness among new customers while they are still in the research phase.
Product pricing is key to success in Google Shopping. KartKonnect helps you set a range of pricing that you wish your product to fall into. After this, the algorithm scans through the listings of all sellers and their process. Like the Buy Box Winner in Walmart Repricing, the best price in the market is considered as the baseline for your product. According to this, the ideal price for your item of sale is fixed.
However, no matter how low the baseline price is, the Google Shopping Repricing feature makes sure that you don’t go in loss. Hence, by setting a minimum and maximum price for your products, you can stay safe within your limit. The KartKonnect Google Shopping Repricing also considers the pricing position of the products.
Make the smarter choice
By staying abreast of the daily price and metric changes, a retailer can make informed decisions for their product pricing. This is a strategic way to upscale your sales and gain outstanding profits. This integrated tool keeps track of data in real-time. The algorithm keeps iterating with every change in price and competition. The faster you make pricing decisions, the nearer you are to winning the deal.