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- Sep 7, 2015
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I'm getting ready to launch and I've now started to get some doubts over my pricing strategy. The products I sell are branded items already on sale from other sellers. To keep fulfilment costs down (per unit) and encourage customers to buy more than one item at a time, I've been planning on offering products at a higher unit price, but then give discounts for orders with multiple units per product in an order. This also gives me the benefit of higher profit margins if people only order one at a time.
However, after looking at competitors websites and seeing their lower prices, I'm starting to doubt myself. I'm worried that I'll price myself out of the market. However, if I do that, will I put off new customers with price increases later?
I know I need to launch and just test what the market does, but I'd love to know you're opinion on pricing at launch. Do you think it's better to:
However, after looking at competitors websites and seeing their lower prices, I'm starting to doubt myself. I'm worried that I'll price myself out of the market. However, if I do that, will I put off new customers with price increases later?
I know I need to launch and just test what the market does, but I'd love to know you're opinion on pricing at launch. Do you think it's better to:
- Price High - then drop prices later if I'm struggling for sales
- Price Low - then try increasing prices once I've got sales
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