Best way to reduce the price of a product?
High!
So I have a new product that I launched and the vine reviews all say that the price is too high but they really like the product and packaging.
So after my prime day deals are over I am looking to reduce the price, which strategy do you think is the best:
- Find the lowest price of a similar best selling product and straight under cut them by a bit?
- Keep lowering the price every week buy say a £1 until the sales start rolling in?
Thanks
B
Best way to reduce the price of a product?
High!
So I have a new product that I launched and the vine reviews all say that the price is too high but they really like the product and packaging.
So after my prime day deals are over I am looking to reduce the price, which strategy do you think is the best:
- Find the lowest price of a similar best selling product and straight under cut them by a bit?
- Keep lowering the price every week buy say a £1 until the sales start rolling in?
Thanks
B
18 replies
Seller_7VbclcPFFRTnc
As per previous thread, you need to list it at the price you can afford to sell it all and you said there was no way of reducing due to advertising costs
Be mind full of dropping the price too much as you may find high pricing errors if and when you want to raise it again
Seller_8Wsckn3UoR095
List it at a price you can sell it at but if you can take a hit, try 2, you may find a sweet spot & I would consider doing it before Prime day, the influx on the site may boost your sales and then its rank etc etc
Seller_9vYzAspLN0bEC
Have you also considered if you lower the price to say £7.49, competitors may do the same or even lower it futher.
You need to have the plane if this was to happen
