What are the consequences of Lazada’s incorrect pricing? What should I do if Lazada has incorrect pricing?

No matter what platform you open a store on, merchants must set the price of the goods, and it cannot be too high or too low, and there must be no mistakes, otherwise it will have an impact on the store. So what are the consequences of incorrect pricing on Lazada? Next, we will explain this aspect to you.

The pricing of goods is related to the profit amount of the merchant's store. Once the wrong pricing occurs, it will lead to serious consequences. For example, if the price is too low, the merchant will suffer losses, and if the price is too high, it will be difficult to sell the product.

What to do if Lazada has incorrect pricing?

Once the seller updates or uploads an incorrect price, it is irreversible. Please follow the steps below to minimize possible losses:

Change the SKU status to "Invalid" → Update the correct price → Contact the Hong Kong Partner Support Center (HK PSC) to inform the wrong price order information; If the SKU needs to be checked, notify its SellerSku to speed up the check → The inventory is changed to "0" and then the SKU is activated. If the SKU needs to be checked, check whether the correct price has been approved → Check in the Seller Center, the correct price will be synchronized to the front desk → Sell the product at the correct price.

How does Lazada set prices?

1. Refer to market prices and competing products: When launching new products, if our product prices have sufficient advantages, we will have the opportunity to gain platform traffic and attract more buyers to consume and place orders.

2. Reserve enough discount space: It includes the price reduction ratio between the selling price and the promotional price, and also includes the price reduction ratio between the strike-through price and the selling price. This is also a method used by sellers to promote products. In the promotion page or the main picture, the product price is displayed in this form. This intuitive subtraction expression can enhance the strength and effect of "price reduction" to a certain extent. Product price reduction will affect the profit of the product, so when setting the price, the price reduction space of the product should be considered in advance.

3. Clever use of pricing tables: If you are doing distribution, and you put a large number of products on the shelves every day, in this case, you need to use a pricing table tool, which is actually a pricing template made using formulas based on the rate table.

When setting prices, merchants must be careful and consider carefully. After all, pricing is a science. If you set a very competitive price, it will bring you more clicks and conversions!