We should look at prices and profits dynamically. We should maintain a reasonable profit margin and compare the prices of our products with those of other sellers. We should try to set a “profitable and competitive” price. To achieve this goal, sellers need to control various costs at the front end, including procurement, manpower, packaging details, and first-leg logistics costs.
Even if it is one cent more expensive than others, it may lead to consumer loss. It is actually very difficult to make one cent after trying hard. Correspondingly, it is easier to save one dollar. Therefore, when thinking about pricing, we must return to the origin. Cost control is the key.
In terms of price setting, it is recommended to set all three prices, including the manufacturer’s suggested retail price (MSRP), standard price (Standard Price) and discount price (SalePrice). Price comparison can better stimulate consumers to make purchasing decisions.
In addition, if the product is a variant product, it is recommended to set different prices for different sub-products and present them in the form of interval prices, which is conducive to improving click-through rate and conversion rate.