Pricing advice needed

foreverlookingup

My wife and I are relatively new to the internet retail business, only in it 6 months, and we were wondering if anyone could help us with some pricing help. What is a good markup over wholesale to use when reselling? We have our own website we started recently, and we also have an eBay Premium store. It seems to us that you have to use 2 different pricing strategies for each site. It seems that on eBay, we have to keep our prices dirt cheap because there seems to be a lot of sellers happy with making $1.00 over wholesale, or even selling less than we can buy it from the wholesale supplier for. Can someone please help?

Thank you so much..

Blessings on your day..

Dave and Peggy

haydee

Hi Dave and Peggy,

eBay has become an extremely competitive marketplace and this is because wholesalers sell direct to the public through eBay. So if you are competing with mostly wholesalers, you have to have competitive prices and to do this without losing money, you may either order in really HUGE quantities and direct from the manufacturers or buy liquidation. Buyers tend to pay more in other auction sites or if they're buying from a website so you were right, the pricing strategy should vary between the two sites.

I look forward to hearing more from you in the forum.

All the best! :)

impozone

Thanks for good advice Satya. I learned really fast that there is no way for someone like me that does not buy in thousand to complete with big eBay sellers.

So I have started looking for liquidation sites. However, I have a question. If I buy from a liquidator, do I need to mention that in my product description? Many liquidators say their products are new or self pull (never used).

irene_salehoo

Hi Dave and Peggy,

The only best strategy to determine the right pricing for your products would be through research. It will help to know your competition and how much they are selling the same product for.

Here are some articles that teach the most effective eBay pricing strategies:

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Those should give you some ideas. Hope this helps! :)

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