Lower or raise the price of a product? Which is the best strategy?

It is not easy to set a price. There are different situations that require different decisions. Sometimes it is good to have a low price, other times it is better to keep it high.

In this case, it is good to lower the price below the final target price. When someone from the “Vine Voices” is going to rate your product, they will always take into account the price-quality ratio factor. Later on, you can raise the price. At first, it is better to leave it low.

You need to activate Amazon Ads campaigns

In this case, you will also need an uae whatsapp number data additional cushion to be able to absorb the advertising costs of the ads. You will have to raise the price to make it profitable to sell with ads. The comparative cost with the competition is important, so it is crucial that when buying you have done your numbers well taking this part into account as well.

You have a lot of stock

Here again it makes sense to lower the price. We you can also create similar content yourself of course had more than 1,500 units of a resale product that we were able to buy at a very good price. We are selling 50 units a day because thanks to the fixed price we have the Buy Box and we are selling with a lower ROI than normal, but to quickly recover the investment it makes sense.

You want to position yourself as premium

This is where you need a higher price. It will always thailand data be more difficult to convince your customer that your product is better than the others and that a higher price is justified. This requires a long-term branding and positioning strategy.

You have little stock

When you are running out of product, whether it is your own product or a reseller’s product, it makes sense to avoid stock-outs for as long as possible by selling the last units at a higher price. Especially in the case of Lego EOL, where you will never be able to buy more units of that product at the same price, this is a strategy that makes a lot of sense.

I hope I’ve given you some clues about pricing strategies on Amazon. It’s not easy and requires putting it into practice to establish your own rules over time.