Creating a Liquidation Strategy in Aura is incredibly simple. In fact, it's not that far off from what we generally recommend when it comes to creating a robust strategy.
Let's dive in!
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Step 1 - Getting Aggressive
Regardless of how you feel when it comes to repricing below, it's an important factor when it comes to pulling the Buy Box from another offer. For this reason, we recommend having a Competition Type of Only Buy Box and repricing below by $0.01.
This will ensure that you immediately increase the chances of selling through your inventory with speed.
And, here's what your Pursuit section should look like...
For the Maintenance Section, we also want to be more aggressive. The following settings will ensure that Aura is able to both lower and raise your price (depending on the listing) to ensure control of the Buy Box where possible.
So, if you're in the Buy Box and there is a better FBA offer below yours, Aura can lower your price to increase sales volume (remember, this is Supply and Demand).
Likewise, Aura could raise your price if you're in the Buy Box but the lowest FBA (Buy Box Eligible) seller to recover potential profit.
Step 2 - Get Flexible With Your Min Prices
While liquidating inventory, you'll need to fight the mental block that you will not earn a profit on inventory. This is a major problem with many sellers who simply made a bad buying decision or had the market shift out of their favor.
Either way, the goal is to recover your capital, not earn a profit.
With that said, you'll want to at least breakeven (not losing the capital you have invested). To do so, we recommend automatically setting your Min prices at 0% ROI, which is the breakeven for each listing (factoring in your cost and listing fees).
Note - at the moment, you won't be able to set your Min prices using a negative value.
Here's what that looks like...
You'll notice that we left the Max price setting empty. Because we're never telling Aura to directly take our price to a Maximum price, we can leave it blank and move on.
Note - Minimum prices are required for Aura to actively reprice your inventory but Maximum prices are always optional.
Step 3 - Apply the Strategy
Lastly, you'll need to apply this strategy to the listings you're wanting to liquidate and let Aura handle them for at least a week.
After a week, you'll most likely be at your breakeven Min price. If you still have inventory, we recommend lowering your Min price by 10% every 2-3 days until the inventory is completely sold through.
You can learn how to manually override your strategy Min price to make this process quick.
There you have it! Our go-to Liquidation Strategy for quickly moving inventory.
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