An in-depth interview with Flashpricer's founder on the importance of speed, accuracy, and finding new ways to compete.
Smart Amazon and Walmart Marketplace sellers know first-hand that staying ahead of the competition requires more than just competitive pricing—it demands real-time agility and precise data management. Recently, Jordan Schanzer, founder and CEO of Flashpricer, shared insights with Website Planet's Luka Dragovic about how Flashpricer is setting new standards for repricing software, particularly for sellers on Amazon and Walmart. Here's an in-depth look at what sets Flashpricer apart in the crowded repricing software landscape.
The Need for Speed: Unmatched Repricing Velocity
Flashpricer's commitment to speed is evident from its ability to push price changes to Amazon instantly. Unlike other software that batches price changes every 15 minutes or meters the number of events sent to Amazon, Flashpricer operates without restrictions. This ensures that all customers, regardless of their subscription plan, benefit from the fastest possible repricing speeds. As Jordan explains, “We push our price changes to Amazon instantly, and they are reflected on the marketplace as soon as Amazon accepts them. The only limit is how fast Amazon accepts the price change, which can sometimes delay things by a few minutes.”
On Walmart, the speed is equally impressive. Flashpricer’s price changes are reflected almost instantly, often outpacing Walmart’s own internal price updates. This is achieved through a proprietary competition score algorithm that prioritizes which listings need closer monitoring and more frequent updates. Sellers can see their new prices reflected by simply refreshing a listing, providing near-real-time data that significantly enhances their competitive edge.
Real-Time Buy Box Data: Accuracy at Its Best
One of the critical challenges for e-commerce sellers is ensuring the accuracy of Buy Box data, especially given the outdated or incorrect data often returned by Walmart’s API. Flashpricer addresses this by proactively checking for missing data and validating information through a variety of proprietary methods. This results in more effective pricing strategies, enabling sellers to make informed decisions based on reliable data. As Jordan notes, “If you’re trying to undercut the current Buy Box price by $0.01, but you don’t know the up-to-the-second Buy Box price, how can you make the right adjustments?”
"We don’t simply rely on the Amazon or Walmart API and blindly trust that it’s giving us the right info. We use third and first-party data sources to validate and proactively check for missing pricing info. This is our huge competitive advantage, so we can’t give away all of our secrets. But we encourage you to test it out for yourself. Go to Seller Center and run a Buy Box report."
By ensuring accurate and up-to-date Buy Box data, Flashpricer helps sellers avoid the pitfalls of inaccurate repricing, leading to increased sales potential and a significant competitive advantage.
Customization and Flexibility for Multichannel Sellers
For sellers managing multiple channels, Flashpricer offers robust customization options. Sellers can exclude specific competitors by name, preventing them from inadvertently competing against themselves or their partners. Additionally, Flashpricer’s MAP (Minimum Advertised Price) functionality respects pricing rules across all sales channels, ensuring compliance and protecting profit margins.
Flashpricer also simplifies the management of cost information by syncing it from one place and allowing the software to calculate minimum and maximum prices for different sales channels. This level of customization and flexibility is particularly beneficial for sellers with multiple Amazon or Walmart stores, enabling them to apply bespoke repricing strategies tailored to each platform.
Data Accuracy: The Backbone of Effective Repricing
Data accuracy is paramount for effective repricing, and Flashpricer goes beyond simply relying on Amazon or Walmart’s APIs. By using both third-party and first-party data sources, Flashpricer validates and proactively checks for missing pricing information. This meticulous approach ensures that sellers are not "flying blind" when making critical pricing decisions. Jordan encourages sellers to test this for themselves by comparing Buy Box reports against front-end listings on Walmart Marketplace, highlighting the discrepancies that Flashpricer can accurately address.
"Flashpricer pushes price changes to Amazon instantly and reflects them as soon as Amazon accepts. For Walmart, our price changes appear almost instantly, and our proprietary algorithm ensures real-time data. Every customer, regardless of their plan, benefits from the fastest possible repricing speed."
Future Enhancements: Expanding Capabilities
Looking ahead, Flashpricer plans to introduce support for private label listings with no competition and tools to automatically find the optimal price while staying above minimum profit goals. Upcoming features include automated experiments that adjust pricing based on best seller ranks, ad spend, and time of day, optimizing for both profit margin and sales velocity. These enhancements will further support e-commerce sellers in refining their pricing strategies and maintaining a competitive edge.
In conclusion, Flashpricer is revolutionizing the repricing software landscape with its unmatched speed, data accuracy, and customization options. For intermediate and advanced e-commerce professionals, Flashpricer offers a powerful tool to stay ahead in a competitive market, ensuring that pricing strategies are both effective and efficient.
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