Reprice your Products Upwards
When we talk about repricing, we talk a lot about why you need to reprice to stay competitive. This means repricing our products so that they are cheaper than our competitors products. Updating prices of products to match or beat competitors is really important, and a great way to stand out from the crowed. Sometimes, however, we want to reprice products upwards.
Why Reprice Upwards
If you use The Repricing Co. to automatically track your competitors prices and update your own prices on your website, you will notice that sometimes we reprice your products upwards. Repricing is a complete process.
Competitors Price Goes Down -> Your Price Goes Down
Competitors Price Goes Up -> Your Price Goes Up
As your competitors prices return from promotions, your prices go up. This makes sure you are not selling your products at prices lower than you need to. This is what we call Repricing Upwards.
When you reprice your products with price increases, The Repricing Co. still follow the rules you have set in your account to make sure your prices increase, but remain competitive.