Do I need to fill in the Amazon market price? How to set the price?

Amazon is now a relatively good cross-border e-commerce platform, and its development is also very good. However, if you want to open a store on Amazon, you also need to understand some basic operations of Amazon first. Do you need to fill in the Amazon market price?

1. Do I need to fill in the Amazon market price?

Required.

2. How to set the price?

1. Sellers prefer to buy products with quality assurance

For similar high-value products, such as jewelry, the store sets a high price but still attracts buyers. If the sellers’ products are similar, then product ratings, comments, and rankings are more convincing.

If a product has been on the shelf for a long time, has a large number of reviews, is ranked high, has a high score, and has a good reputation, buyers will feel that this is a product that has been tested in the market and they will feel at ease buying it even if it is expensive.

2. Lower prices boost sales

Sellers who want to make quick money in short-term transactions or whose products are not competitive earn conversion rates by lowering prices.

In order to build up popularity, sellers who are just starting out set low prices to attract buyers, and then raise prices once the product has a certain sales volume.

They use low-price sales as a marketing strategy and promote products at low prices for a long time. Such sellers are generally very powerful and have good control over product quality, cost, and supply. There is enough profit margin for large-scale sales.

3. Amazon’s pricing formula. We have to mention Amazon’s own FBA delivery.

FBA selling price = (product cost + FBA first leg + FBA fee) * (1 + profit) / (1- commission)

Product costs: production, promotion, taxation, labor, etc.

Commission: Different commissions are charged according to different categories, 8%-15%

FBA first leg: logistics transportation fees, customs clearance fees, warehousing, return damage rate...

4. Pricing methods for products at different stages.

New products are on the shelves. In order to give buyers a good experience and allow products to enter the market quickly, the price can be appropriately lowered.

Product growth stage: When the seller's product sales, positive reviews, and star ratings have a certain foundation, and sales are on the rise, the price can be appropriately increased.

The product is in the mature stage. When sales are stable and the market has accumulated a lot of popularity, the price can be adjusted higher than the market price.

Product decline period: When new products with better functions are introduced to the market, buyers can clear out the decline period products by selling them at a discount or with free shipping.

Amazon market price needs to be filled in. At the same time, everyone must learn how to set prices when opening a store on Amazon. The pricing of goods is very important. Many friends can neither set prices too low nor too high, so they have to find a way to set prices.

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