6 Ecommerce Pricing Strategies that Could Help You Sell More

February 8 2018 IN Pricing 6 Ecommerce Pricing Strategies that Could Help You Sell More


Choosing the Best Ecommerce Pricing Strategy

We’re going to be blunt for a second. If the price isn’t right, your product won’t sell.

Don’t get us wrong, a great product listed on all the right marketplaces is headed in the right direction. Especially if your marketing game is on point.

But if the product is priced too high, you won’t sell many.

And if the product is priced too low, you won’t be able to cover costs.

Choosing the best ecommerce pricing strategy for you is critical to your business’s success.

We’ve made a list of pricing strategies to consider for your ecommerce business and some of the pros and cons to each.

1. Premium Pricing

Let’s start with setting products at a higher price point.

With a premium pricing strategy, the purpose is to emphasize the value of your product with a higher price point.

It only works with products that are unique and still in the early stages of the product life cycle.

2. Market Penetration

If you’re entering a market with quite a few competitors, market penetration may be a good strategy for you.

To gain market share, sellers list products at a much lower price than competitors.

Unfortunately, sellers tend to lose money until a solid brand awareness is established. Then the seller can begin increasing the price over time and increasing revenue.

3. Economy Pricing

If you’re a small business, this isn’t the pricing strategy for you.

Large retailers, like Walmart for example, use this strategy to keep products cheap for consumers by limiting the amount of marketing behind each product.

4. Price Skimming

This strategy literally skims off customers that are willing to pay a high price for your product.

Once more competitors start popping up, then the price is lowered to skim off more people at that price point.

5. Psychology Pricing

This one’s about getting in your customer’s mind without them knowing.

Typically, buyers look at the first number in a price when deciding whether to buy an item.

Let’s look at it this way.

You price an item at $19 versus $20. Often, more people are willing to buy the item just because it begins with a lower number.

While you may lose a dollar of profit, there’s potential to convert more buyers over time and increase sales.

6. Bundle Pricing

In the eyes of consumers, bundles are king.

Bundles group items together at lower price points than if the items were purchased separately.

This is a common method for clearing excess inventory in a warehouse.

It can be hard to find an ecommerce pricing strategy that works for you and there’s not always an explanation for why one price works versus another.

But promise us one thing?

Don’t set a price and then hope for the best. Constantly go back and evaluate which prices are working and which ones need adjusted.

Sell More. Work Less.


Enable your business to do more, with less!
Become a Multi Channel Pro!

Latest Posts

5 Critical Things Every Amazon Seller Should Know

December 6, 2018

The Past, Present, and Future of Multi-Channel eCommerce

November 27, 2018

Why You Should Sell on Walmart Marketplace Now

November 19, 2018

Listing Mirror Wins 2018 Inventory Management Software Rising Star Award and Great User Experience from FinancesOnline Directory!

November 15, 2018

5 Things You Must Consider for a Multi-Channel Selling Strategy

November 14, 2018

Marketplace Updates: What's Happening in 2019?

November 13, 2018

Walmart Marketplace: What to Expect in 2019

November 9, 2018

Expanding Your Sales on Amazon and eBay Using FBA

November 8, 2018

Using Amazon FBA for eBay Fulfillment

November 7, 2018

Multi-Channel Inventory Management for Ecommerce

November 5, 2018
Sell More. Work Less.

Sign Up Now!



Even More Posts
Multi-channel Marketing Strategies for Ecommerce
November 2, 2018
Want to Sell More on the Walmart Marketplace?
November 1, 2018
The Essentials: The Simple Guide to Inventory Management for Ecommerce
October 31, 2018
Listing Products on eBay: the Do's and Don'ts.
October 30, 2018
Balancing Wholesale and Direct-to-Consumer Sales
October 29, 2018
The Benefits of Kitting and Bundling
October 26, 2018
How To Choose the Best Products for FBA
October 25, 2018
Top Trends of Marketplaces in 2018
October 24, 2018
How to Become a Seller on Walmart Marketplace
October 23, 2018
Why the Walmart Seller Channel is Underutilized (and How to Utilize It Effectively)
October 19, 2018
How Does the 'Amazon's Choice' Algorithm Work?
October 18, 2018
Benefits of Amazon Multi-Channel Fulfillment
October 17, 2018
How to Increase your eBay Seller Ratings Quickly
October 16, 2018
5 Reasons to Start Your Multi Channel eCommerce Project Today
October 15, 2018
How to Import Using Amazon to eBay Listing Software
October 12, 2018
Boost your Sales, with ease.

Sign Up for Demo!