When uploading a listing, we usually add a “Suggested Factory Price (MSRP)” to the product. On the “Listing Edit” page, sellers can enter the “MSRP” value, which is generally higher than the actual selling price of the product. This is a normal operation for uploading a listing.
The advantage of doing this is that when consumers browse the listing information and see the product price, they will have a psychological feeling of getting a bargain when comparing it to the actual price, thereby stimulating users to make purchasing decisions.
1. New version of coupons
In addition to the “MSRP” trick, we can also use real discount tools to adjust the price of products to achieve conversion expectations.
Compared with discount codes, “coupons” have a better shopping experience. For products with “coupons”, the “coupon” information will be directly displayed below the product price, which is very eye-catching. When the customer places an order, click “Coupon” and the discount will take effect immediately.
The setting process of “Coupon” is also relatively simple. First, we can select “Coupon” in the “Advertisement” column of “Seller Center” to enter the operation interface of “Coupon”.
In the operation interface of “Coupon”, select the target ASIN and click “Continue to the next step”.
Secondly, set the discount information, including the discount ratio, redemption limit and discount budget.
Finally, set the name of the coupon, the target group and the discount time. After confirming that the information is correct, click “Continue to the next step” to submit, and then wait for the discount to take effect.
2. Price and volume balance
When sellers make price adjustments on weekdays, they should clarify the purpose of the price adjustment. For example, fully understand the life cycle of the product itself, from the new product period, the rising period, the mature period, to the decline period, and formulate different pricing strategies according to the different stages of product sales. For example, a tricky problem that FBA sellers often encounter is not the lack of orders, but the out-of-stock of goods. In this case, sellers should have a prediction of the sales trend of the product, make a replenishment plan for FBA products in advance, and use price adjustments to find the balance between orders and profits, control the sales speed, and ensure expected profits.