Consider the prices of products on the platform that are similar or identical to the products we sell. The prices of similar products can be viewed through “Similar Products” on each product detail page.
We can also upload product photos through the Shopee App to search for prices of similar products or compare prices of similar products by searching for product keywords.
Based on the comparison results, we need to have a basic understanding of the market price positioning of the products we sell, and then classify the products into three types: low-priced hot models, affordable prices, and high-priced products according to our actual situation. We should set the price of low-priced hot products to the lowest price on the platform as much as possible to attract buyers to the store and increase the overall order volume of our store; we should set the price of affordable products to the average price of the platform; we should make High-priced goods earn more profits, and at the same time attention must be paid to ensuring product quality.
If we want to set the product as a high-priced product, then we need to have reasons for setting a high price, such as uniqueness, brand advantages, performance advantages, functions, etc. Assume that we are the only one selling a certain product on the entire platform. an exclusive necessity, then we have the initiative in pricing.