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It's important to understand the terms Product, Offer and Buy Box in the context of Takealot marketplace.
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1️⃣ Product
A Product is the item being sold. On Takealot, each product has a product listing, which provides detailed information about the product, like the title, description, images, specifications, and reviews. Multiple sellers can sell the same product on Takealot, leading to multiple offers under a single product listing.
2️⃣ Offer
An Offer refers to the specific conditions under which a seller is selling a product. This includes the price, shipping details, and availability:
- Price 💰: Sellers determine the price they are willing to sell the product for.
- Shipping Details 🚛: Sellers can choose to keep stock in Takealot DCs or sell the product on lead time.
- Availability 📦: The quantity of the product that a seller has in stock.
3️⃣ Buy Box
The Buy Box is the prominently displayed purchase option that highlights a particular seller's offer, making it the default option for customers to buy. Winning the Buy Box is essential as it significantly increases a seller's chances of making a sale.
How does the Buy Box work?
The Buy Box winner is determined by an algorithm that considers factors like price, shipping speed, and more.
On Takealot, the Buy Box showcases two winning offers (unless both categories are won by the same seller):
Best Price: The offer with the lowest price.
Fastest Delivery: An offer with a slightly higher price but the quickest delivery time.
To increase your chances of winning the Buy Box, you can use a Buy Box repricer that automatically adjusts your offer price to be slightly lower than that of competing offers on your products.
How does the Buy Box Repricer work?
The Buy Box Repricer automatically adjusts your offer price based on market conditions. It can both reduce and increase your price to help you stay competitive. For instance, if competitors run out of stock, the repricer may raise your price to win the Buy Box while maximising profit.
Benefits of using our Buy Box Repricer:
- Increase Profits: When you're the only seller in stock.
- Improve Relevance: When competing with multiple sellers offering the same product.
What do I control when using the Buy Box Repricer?
For each offer, you can manage the following settings:
- Min Price
- Preferred Price
- Buy Box Approach
- Win-by margins
Min Price:
The minimum price you are willing to sell the product for.
Preferred Price:
The maximum price you would ideally want to sell the product for.
Buy Box Approach:
Decide whether you want to aim to be the 🏆 best-priced or only reprice until your offer wins the 🚛 quickest delivery (where applicable).
Win-by Margins:
Set the margins (in Rand or percentage) by which you wish to win the Buy Box. For example:
- For in stock offers, set a win margin of R5.
- For lead time offers, set a percentage margin of 5%.