In the cross-border e-commerce industry, product pricing is a very important knowledge. If the product is priced too high and lacks competitiveness, it will lead to insufficient sales; if the product is priced too low, the seller will not be able to make a profit. So, let’s learn about the wish seller’s price and how to determine the wish selling price?
1. Before pricing, cost accounting is required. Sellers need to calculate the cost of the product and other cumbersome expenses such as product transportation fees, platform commission fees, and even later advertising fees one by one. For example, if the cost of an item is $10 and other fees are $5, and if the seller wants to earn a profit of $5, then the selling price of the item needs to be positioned at $20 to ensure the desired profit.
2. After understanding their own costs, sellers also need to refer to the pricing of competing sellers on wish. When setting prices, sellers cannot simply consider cost and profit issues, but also need to refer to the prices of other similar products to choose an appropriate price.
3. In addition to the above two situations, sellers also need to make settings based on the positioning of the product. For example, if a product is a traffic-generating product, the seller can lower the selling price appropriately and have a sufficient price advantage compared with other sellers to attract more customers. Of course, while setting the selling price, the seller also needs to limit the purchase quantity of a single customer to avoid unlimited purchases by malicious buyers and cause huge losses to the seller.
4. In addition, sellers can also price by bundling sales. Bundling sales means that sellers bundle traffic-generating products with profitable products, which can not only balance the profitability of the store, but also promote sales. It is a very recommended method.
For enterprise sellers entering Wish, they also need to consider expected profits and brand positioning. Sellers need to make reasonable estimates of product prospects and profits, and set different pricing based on different brand positionings. Consumers in different regions also have different consumption habits. Sellers also need to make certain adjustments and appropriate marketing promotions for different regions when setting prices to obtain better sales results.
The above introduces the relevant knowledge about Wish sellers’ pricing and how to determine Wish’s selling price. In short, in the e-commerce industry, product pricing is a very important task. Sellers need to comprehensively consider factors such as cost, competitor pricing, product positioning, etc., and set product prices reasonably to achieve better sales results in the market.