Amazon, the world's largest e-commerce website, was initially started as a digital book-seller. When Amazon has such a massive number of products listed on it, it is natural to assume that there must be many books as well.
Amazon has approximately 30 billion books available on its marketplace, with about 15.6 million hardcover books sold last year alone. This sales figure doesn't include the Kindle or paperback editions.
In such a scenario where the number of transactions is huge, buyers and sellers both need help making the most of such a dynamic marketplace. With so many listings, it becomes impossible for the customer to locate the best deals and the lowest priced books available. Additionally, the job of a seller doesn't remain so easy as well. Because of so many books, the competition is intense, and one small mistake can turn out to be disastrous.
It is important to note that a seller of books often has imperfect knowledge of this marketplace. The sheer number of book listings makes it impossible to track every other seller. Due to this incomplete knowledge, sellers often end up making strategic mistakes.
One such strategic mistake that most of the sellers make is the pricing of the book. It is worth noting that millions of books listed on the Amazon marketplace are under or incorrectly priced.
Why are Books Mispriced?
The reasons for this mispricing or underpricing is due to multiple reasons. There are over 30 billion books listed on Amazon. There are millions of products that have a fluctuating daily price, and this can lead to some listing price errors. Additionally, regular fire sales, discounts, etc. can affect the value of each book daily. Being able to follow all this information, in an easily understandable way is an essential aspect for a business.
Let's look at the reasons for the mispricing of books closely-
There are constant price fluctuations on the Amazon e-commerce platform. You will notice that the price of a commodity or a product that you wish to buy will be different than what it was before you left for some errand in between. This constant price fluctuation in the book prices is one of the biggest reasons why books are under-priced or overpriced. To understand why the prices of books constantly change on Amazon, let's look at the following factors.
- Repricing through automated software
Amazon repricing software is one of the most popular software amongst the FBA sellers. This software was developed as a necessity and has become an essential tool for all the FBA sellers.
According to the underlying economics, it is worth noting that the demand and supply of the product define the prices of a commodity. For this very reason, it becomes essential for the sellers to keep an eye on the market dynamics and reprice their products as per the requirement.
A seller can easily manage this task if he/she has one or two products listed on Amazon. But, the manual efforts simply won't be enough when the portfolio of your registered products is enormous. This reason, along with some other reasons, has increased the importance of Amazon repricing tools for sellers.
This repricing software keeps a constant eye on the changing market conditions and quickly reacts to the relevant stimulus. Due to this real-time support provided by Amazon repricing tools, the prices of the products change many times a day.
While this is one of the reasons why products get repriced, there are many other reasons as well. Let's look at some of the reasons why books are mispriced on Amazon.
While every seller doesn't go for a suitable Amazon repricing software, they take care of it manually. It is important to note that the repricing of the products is as essential to an FBA seller as it is to list their products on Amazon. This constant vigilance maintained by various sellers leads to regular changes in the prices of the goods.
The competition to gain the maximum market share is cut-throat, and every seller tries various methodologies and tools to achieve maximum sales. This desire to gain more profit via additional sales has led sellers to adopt multiple tactics and tools.
One such tactic that is being used by most of the sellers is the offers on the products. Every seller who wants to give an instant boost to their profits shifts to this method of increasing tools. Since these offers bring down the actual sales price, they cause a lot of fluctuation in the market prices of different commodities like books.
- Incomplete and incorrect market knowledge
Most of the new sellers do not have access to up to date and relevant market information about their competitor goods on Amazon. While listing their books and deciding their prices, they make use of guess-work.
Incomplete and lack of market information is also one such factor that leads to mispriced books on Amazon. When a seller is unaware of the going trends in the market or the pricing policies of its customers, he ends up shooting in the dark. These prices fixed without any data support lead to the books being mispriced.
Whenever somebody does a task manually, some scope of human error always remains. One such error that regularly happens is the listing error. Listing error refers to the mistake that happens while specifying the prices of the books on Amazon.
There are times when no matter how vigilant you remain, you end up making a mistake.
These mistakes can be born of any reason ranging from personal problems or adverse health conditions. While one can do nothing to avoid these errors, the books get listed at prices that are lower than their average market value.
What things do you need to know so that you can maximize profits?
- The average price this month of the last year
- Change from this month last year until now
- Date of the highest price during the previous year
- Date of the lowest price during the previous year
PriceHack Review: In A Nutshell:
It is precisely in situations like this that tools such as PriceHack can help you optimize the benefits. PriceHack helps you to locate the thousands of books on Amazon that have underpriced listings. Being able to obtain this information means that you may be able to find your favorite book at an unbelievable price. You may also choose to buy books at low prices and resell them at higher prices to make some money.
Why do you need PriceHack? Is This Book Arbitrage Software Worth It?
If you regularly shop for books, online PriceHack is an essential tool to help ensure that you make smart purchases. The app helps you to gather information without having to spend hours and hours delving into the depths of the internet to uncover the essential details.
Amazon has over 30 billion books in its library, and no individual can deal with more than a small fraction of this content. Here is when this tool shall prove indispensable for you. The automated searching algorithms help to generate your required data with a minimal amount of effort. This app can quickly help you to buy underpriced books and then sell them at the current market prices.
What are the key features of PriceHack?
- Looking at the average price of the same month of the previous year helps to gather an understanding of which books may have a seasonal flow.
- The user can also find out which dates the price had gone to the highest, and which date it was the lowest. This information can help you schedule your buying patterns to make the most of better offers and lower prices.
- The difference between what the book's current price and its average market price is clearly explained in the form of a percentage to help you easily understand the amount of profit you can make.
- The best feature of this app is smooth and efficient usage. Data processing and output do not require you to access any fancy or complicated reports and tools.
PriceHack tells you all the essential data that you need to be able to purchase discounted books and sell at a profit. But these points of data are not enough to help you make the maximum profit possible. To help maximize this, you need to be aware of some other valuable information such as:
The ease of use and benefits provided make this app an essential assistant for book shopping.
- The app automatically scans for underpriced books.
Some of the features that PriceHack provides are:
- The details of the search are displayed conveniently at the top of the page.
When you're searching for a book of your choice on Amazon, the app will scan the page and automatically provide you with details.
- Detailed price history and data is displayed in an easy to understand format.
The results are shown at the top of the page so that you are not required to scroll down to see them.
👉Get Started With PriceHack NowThe price history analytics displayed include dates when the prices were lowest or highest. It also tells you the average price of the book across the site.
Easy to Install
PriceHack is easy to install. End-user experience is one of the crucial factors which was kept in mind while developing PriceHack.
If you are worrying if you will be able to use this software efficiently or not, you don't have to worry anymore. With the help of video lessons and personal support, PriceHack makes sure that you learn all the tricks and functionality of this software.
PriceHack supports multiple browsers which ensures the highest functionality and excellent end-user experience.
How does PriceHack Works?
PriceHack functions in four easy steps that help showcase the hidden potential of mispriced books on Amazon. These steps are listed below.
Whenever you are searching for books, the app will instantly scan for underpriced books.
Whenever you run a search on the app, it automatically locates the underpriced books. Also, this app helps the user by displaying this vital information at the top of the page.
The user can now go through the highlighted books and check to see the best offers, the profits they can expect to receive and the best time to buy and sell the books.
Once the user has seen the books on offer, they can decide if they want to buy at a lower price and sell at a higher price.
The app uses twelve months of Amazon price history data to help you get the optimal results at your fingertips. PriceHack helps to compare the current prices against the previous data. This analysis is done not only for books listed on Amazon, but also other listings for new and used book sites.
The difference in price from the average levels to the current listing price is highlighted in percentage to help users quickly understand the impact. Along with this difference, another vital information that PriceHack presents to the users is the highest price and the lowest price for a particular book. This data is collected from all available sites online a]as well as Amazon.
One of the most useful pieces of information in the notification is the price of the particular book at the same tie the previous year.
Pricing of PriceHack
PriceHack is a pocket-friendly software which makes sure that you get efficient returns on your investment. PriceHack understands the importance of a free trial. It knows that a seller might want to try out the features of the tool before they pay the subscription. Keeping this in mind, PriceHack offers a free seven day trial period.
Under the trial period, you don't have any commitment, and you can cancel the free membership any time you look. After the seven days of the free trial, you will have to pay a nominal subscription fee of $47 every month.
Conclusion: PriceHack Review 2020
Like any other trade, you also need tools to make the most out of unpriced books on Amazon. One such important tool that proves to be most beneficial in this task is PriceHack. PriceHack is an essential tool that will help you take benefit of the pricing errors in the books listed on Amazon by analyzing and comparing various data and trends.
So, if you are still unsure whether you need PriceHack or not, you just need to register on the website and take their free trial for seven days. Once you explore this software, you'll be able to make up your mind if you need this software or not.
