For merchants operating cross-border stores, in order to achieve stable development of stores, it is necessary to do a good job in the operation of each link. Shopee platform is no exception. In order to run a good Shopee store, in addition to choosing good products, it is also necessary to set a good price for the products. Today, let’s take a look at how to reasonably price products on Shopee platform?
1. Understand what hot-selling products Shopee has on different sites, what are the data of local daily hot-selling products, and what price products local people are more keen on.
2. Each Shopee merchant will have a corresponding investment manager. Shopee merchants can obtain some useful information through the investment manager, such as checking the market situation of each site every week based on the information provided: for example, Shopee Weekly Report.
3. After knowing what category is popular through Shopee Weekly Report, merchants can go to the homepage of various sites to see the settings of best-selling products under this category.
4. After understanding the price range of the platform’s hot-selling products, it is equivalent to understanding the payment preferences of local market consumers, which facilitates merchants to reasonably price.
The following are several common pricing methods:
1. Product prices that customers can accept
Shopee merchants can have a general understanding of the prices of similar products on the platform by searching product keywords on the front desk, and then according to analysis, the product prices that consumers can most recognize and click the most represent the price range that local consumers can accept.
2. Tiered pricing
That is to say, different prices should be set for different product SKUs. Of course, this does not apply to all products. But setting different prices for different models of products will give consumers a more professional impression and promote buyers to accept and trust the store more.
3. Downgrade pricing method
In fact, this kind of pricing is similar to product discounts. Downgrade pricing means that the more products you buy, the more discounts you enjoy. What Shopee merchants need to remember is that the original price cannot be discounted. Once the original price moves, if it is discounted again after 15 days, it will be considered a false discount by the Shopee platform, which is not conducive to the development of the store.
The above is all about how to reasonably price products in Shopee stores. LianLian Cross-border Payment provides professional and considerate services to allow users to conduct cross-border business with peace of mind, helping more users to bring excellent products and services to the global market in a more efficient way for better operation.