Just a while ago I felt like doing shopping for myself and I found a wide variety of dresses for myself, now-a –days there is such wide variety for every product by which you can avail yourself any product from 100 bucks to 1000 bucks and so on. For customers like me it’s a boon but for sellers like amazon sellers, flipkart sellers it kind of tricky task to decide which product should be quoted wisely. As such if I talk about it there is no concrete pricing strategy for any commodity.
Let us discuss about some great pricing strategy by which you can sell your product on amazon and flipkart.
Right and Effective pricing strategies for Amazon and Flipkart
For being an effective seller on amazon and flipkart you need to focus on certain criteria’s:
Should I make it 99 or 100?
While deciding pricing strategy for certain product it comes in mind that whether the product should be of 99 rs. Or 100 rs. Let us take an example, when you go for shopping, have you ever noticed that most of the products have price tag mentioned as say 499, 599 so on and so for. This is the master key for mentioning the price as you have reduced the price and still you are in the nineties.
Keep an Eye On what your competitor is upto.
Pricing strategy needs to be set or changed according the way which your competitors are moving. Keep an eye on your competitors, that will assure the pricing ball is in your court and you can play it as you want. But also make an analysis that while competing with your competitors you don’t get involved in a price war which will lead you in making losses.
Market Place Analysis
Pricing Strategy will also change with the analysis of the marketplace(Amazon, Flipkart). As the marketplaces keep on changing their pricing strategy, you should also change or work on your strategy.
Move your pricing strategy from floor to the ceiling and vice versa. Analyse what strategy will suit your products well. And do not rely on the same for a long time as because that pricing strategy may work for now, but might not work well tomorrow.
Confused still what should be your pricing strategy? Make a move on pricing but simultaneously work on both the things( Analysis of the marketplace(amazon, flipkart) at that period of time, and your competitors pricing). Don’t stick with one pricing strategy, keep in changing the strategies and opt for the one which is better for your business.
Does your pricing strategy works well for Amazon, Flipkart? BoxNsights can help….