The development of the domestic e-commerce industry is becoming increasingly fierce, and it is very difficult for sellers to stand out. Many sellers choose to open stores on cross-border e-commerce platforms. Amazon, as the largest cross-border e-commerce platform, has attracted many sellers. For Amazon sellers, a reasonable pricing strategy is very important to the operation of the store. Reasonable prices help Amazon sellers build their store image, increase store traffic, and increase store sales. The following will share with sellers how to adjust Amazon product prices.
1. Adjust prices according to market demand.
The price of the product will not remain the same. When a product is in short supply, there will be a rush to request it, even if the price rises. Therefore, the seller’s products are on the shelf of new products, and the price can be flexibly adjusted according to market demand.
2. Adjust prices during promotional seasons and holidays.
On each e-commerce platform, stores will have promotions with different themes at different times. On the Amazon platform, in addition to Prime Day, it will also promote major holidays in Western Europe and the United States, such as Valentine’s Day, Halloween, Thanksgiving and Christmas. As the golden age of marketing, sellers will definitely formulate promotional strategies and adjust prices on a large scale.
3. Adjust the price based on other circumstances.
Prices can also be adjusted under other circumstances, such as rising raw material costs, rising freight costs, and rising labor costs. Price adjustments can be considered.
4. Adjust prices according to various costs.
For example, factors considered for price adjustment include raw material costs, logistics costs, employee wages, utility bills, taxes, etc. After the price increases, the ranking will also be affected and the sales volume will also change.
The above are four tips for adjusting product prices shared with sellers. I hope it will be helpful to sellers who want to open a store on the Amazon platform. Lianlian International allows users to conduct cross-border business with peace of mind and confidence with its professional and considerate services, and helps more users bring excellent products and services to the global market in a more efficient manner for better operations.