Competition Rules:
In standard Competition-based rules for a store, you can choose to price against the lowest seller, or against a pre-selected set of sellers:
Each of the qualifiers is configurable:
less than, equal to, or greater than
the minimum, average, or maximum (of select competitors)
by X $ amount or X %
Include/Exclude Shipping from price comparison
Ignore/Include competitors below your Min Price in price comparison
For introductory repricing, Wiser recommends using a rule that is X% or X$ below the lowest competitor. This will ensure your price is the most competitive it can be.
There are several other configurable options:
No Match: if a SKU has no competitors found, you can choose to either maintain your current price, or raise it to a pre-determined Max Price (uploaded separately to the Wiseboard per SKU). If there are no competitors found for that SKU, it may be an advantageous time to gain additional margin by raising your price while you are currently the only seller.
Not Competitive: If Wiser finds sellers below your Min Price, this is considered an item that is 'Non-Competitive' (these can be found 'Non Competitive' filter in the Wiseboard). In these cases, you may want to lower your price to its floor price, or Min Price, in order to be as competitive as possible.
Amazon Rules:
For customers who are integrated with us through Amazon, we have additional rules that are specific to Amazon.
*Note: the 'enable automatic repricing' button must be checked in order to reprice at the repricing interval that is configured by our team.
There are numerous qualifiers that are configurable in these rules:
Select competitors: individually select competitors to reprice against.
BuyBox: choose to reprice based on whoever is currently in the BuyBox.
Amazon: choose to reprice based on Amazon.com specifically.
lowest BuyBox eligible: Amazon determines BuyBox eligibility based on a number of factors, including minimum feedback ratings, number of reviews, shipping frequency, and other factors. These are typically established sellers with a history on the marketplace.
Non-FBA: choose to reprice against sellers that are NOT fulfilled by Amazon (i.e. not Prime).
FBA: choose to reprice against sellers that are fulfilled by Amazon. These sellers typically command a higher price as they include free 2-day shipping and other Amazon guarantees.
*NOTE* if you check multiple boxes here, Wiser will calculate all recommended New Prices simultaneously, and then the final New Price will be the lowest of the calculations.
For example, if you've checked both 'below BuyBox by 1%' and 'below Amazon.com by 1%' Wiser will calculate each New Price, and the final recommendation will be the lower of the two.
eBay Rules:
For customers who are integrated with us through eBay, we have additional rules that are specific to eBay.
There are numerous qualifiers that are configurable in these rules:
Top-Rated Plus: these sellers are unique to eBay and are usually well-established sellers with a minimum Feeback rating and # of reviews. These can be seen in SKU Track with this symbol next to them (similar to BuyBox eligible):
Top Comp by Price: in eBay, customers can search either by Price or Best Match. Checking this box will reprice you based only on Price.
Top Comp by Best Match: checking this box will reprice you based on Best Match, rather than by Price.
Select Competitors: select which sellers you wish to compete against.
Default Repricing Rule
You can now configure a default Repricing Rule to your items. This means that each new item imported via CSV or FTP Upload to the Wiseboard will automatically have this pre-designated rule applied.
To apply a Default Repricing Rule, navigate to Wiser Settings and click under Repricing Rules:
Once you check the 'Default Rule' box, every new SKU that is imported will automatically have this rule applied.
You can also create a quick Filter to access items that were assigned via the Default Pricing Rule feature:
As always, if you have any questions or need any assistance with applying Rules or configuring Default Rules, please reach out to your Customer Sucess Manager or send an email to support@wiser.com