So, not only does your price matter but also your actual numbers when it comes to eBay pricing! The best thing about applying some psychology to your eBay pricing is that you may achieve sales even when your product is priced higher than your competitors. Once you have decided on your pricing, you should be aware that tweaks may be required from time to time and that means both price increases and decreases. This can happen due to new competition, higher demand, lower demand or influencing factors which are out of your control, such as economic events.
Taking time to do your due diligence and test your pricing is the best way to keep on top of the effectiveness of your eBay pricing. This is a sure-fire way to start a race to the bottom. You undercut your competitor and then before you know it they have come right back at you and dropped their price too.
You do the same. So do they, until eventually your products are selling way below their real market value and neither of you is making any profit. If another seller undercuts you, stand your ground. This is a big part of your business costs that often get overlooked.
If you receive lots of offers way under your list price, the chances are that your product is priced slightly too high — so use that information and drop your price. The same applies if you receive very few offers and also no sales. If you receive only moderate offers and they are only slightly less than your asking price, then your price is probably about right.
How you price your products will not only determine whether you attract shoppers but will also put you in a better position to achieve eBay Top Rated Seller Status, which will give you enhanced visibility in the search results.
Try Repricer. Create rule-based repricing strategies to beat your eBay competitors and increase your sales. Cancel the auction and relist as Sell Similar. And most of the Auctions include a Buy It Now price as yours does. This leaves it open until someone pays. And it won't be passed by because the Auction can't end until Christmas Eve. Comments 3. When you say "immediate payment required" is that a setting option I haven't noticed, or is it automatically the case with all fixed price items?
It's a checkbox in the payments section of the listing form, though probably only on the "Advanced" version of the listing form. The simplified form is pretty useless. It tells you everything you need to know, and nothing more. Watchers may be trying to decide between your product and one from a direct competitor. Perhaps they are watching both listings. So spend some time doing opposition research so you can optimize your listing to be more competitive.
However, you can compete on the quality of your listing and the perceived value of your product and brand. Some watchers will never convert into buyers, no matter how hard you try to entice them. Your product might be out of their price range or just not what they want. Or maybe they never had any intention of buying in the first place.
Simply re-list your product and try to reach more motivated shoppers. Remember, listings are an ongoing process with room for continual improvement. All rights reserved. Use of this site is subject to express terms of use. By using this site, you signify that you agree to be bound by these Terms of Service. Michael Ugino is the co-founder of Sellbrite. A former IR merchant and Fortune product marketer, Michael now helps small to medium sized brands and retailers build a successful online marketplace strategy.
He'd be delighted for you to connect with him on LinkedIn. Growth Strategies eBay selling tips. Sell everywhere, painlessly. Get up and running today. If your item has bids with less than 12 hours left in the auction, try contacting the bidders through eBay's Contact Member form on their My World page. Use the Resolution Center to cancel a transaction if you mistakenly started the auction at the wrong price see Resources.
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