When using the Bol.com Repricer in Channable there are several Repricer strategies possible. In this article we explain how the different Repricer strategies work. If you want to know how to configure the Repricer, read this article first.
In general, Channable’s Repricer function allows you to automatically adapt your prices. There are currently two strategies to do this: Buy Box Targeting and Competitor Targeting.
Before you start, you have to determine a minimum and maximum price for every product. You can use the general rules engine and dynamic fields for this. The Repricer will not run on products that don’t have a min/max price set.
In general, Channable sets the maximum price for all products on which you don't have any competition. This also happens when you are directly competing with Bol.com with the Buy Box strategy. The reason for the latter is that it's almost impossible to win the buy-box if you are directly competing with Bol.com.
The Buy Box Targeting strategy
The buy-box is the ‘buy-now’ button on Bol.com that places the product order directly with the seller/merchant that has the best offer for that product. Meaning that if you are offering this product and you don’t have the buy-box, the buyer has to specifically go to a list of other sellers and select you from that list. This is a manual action that almost no buyer ever considers, so it's a great disadvantage.
To get the best offer for the Buy Box, Bol.com makes a (secret) evaluation that involves:
- Offer price
- Delivery time
- Seller rating
- Stock levels
- And others…
Channable can only influence the price part of trying to get you the buy box. Other elements that will influence you getting the buy box which are determined outside of Channable are not adjustable using the Repricer. This is true for both the strategies.
If you want to always aim for the buy-box, Channable offers you this strategy. It checks if you have the best offer for each product for which the Repricer is correctly configured and tries to undercut the competition with fixed amounts of 10 cents. After that it evaluates if you have the best offer with the new price. If you do, the Repricer will stop lowering the price. If you don’t, it will keep lowering the price. This will continue until the minimum price threshold has been reached or you have the best offer on that product.
By default, the Buy-box Targeting strategy will try to compete with everyone, regardless of their delivery time and/or seller rating. It is also not possible to set the amount the Repricer will undercut the competition with. If you want to set these boundaries you can use the Competitor Targeting strategy.
The Competitor Targeting strategy
The Competitor Targeting strategy does not take the status of the offer into consideration when Repricing. Instead, it focuses primarily on undercutting the competition. This can be a worthwhile strategy if you want to be more specific in which competitors you want to compete with. Mostly, the Competitor Targeting strategy in Channable can be seen as the manual counterpart of Repricing to the automatic Buy-Box Targeting strategy.
For example, a few scenarios in which this strategy would be useful are:
- When you know that you don’t want to compete with sellers that have a low seller rating, or that have a high delivery time.
- When you don’t want to start a price war.
- When you know that you will win the buy-box on merits other than price.
If you choose the Competitor Targeting strategy, Channable's Repricer will do the following:
- The Repricer filters the competitors from the offers list that have been excluded in the ‘Do not complete with’ settings of the Repricer rule.
- The Repricer filters out the competitors that fall below a set seller rating threshold (for example; new sellers have a low seller rating and you don’t want to compete with them).
- The Repricer filters out the competitors that have a delivery time of >x days (for example when you don’t want to compete with sellers that are very cheap, but really slow).
- The Repricer will set the undercut price based on the lowest offer and the undercut distance set by the user.
As can be seen, the competitor strategy provides more flexibility to the user over the Buy-Box Targeting strategy. All of the above four points can be configured to your preferences in the Repricer rules. However, it will not keep lowering the price if undercutting once did not result in the seller getting the buy-box. It will only undercut once.