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Mark up price

Entrepreneur1980

Hello my fellow entrepreneurs! What is a good mark up price on the items. I started out doing double the aliexpress price. I didnt get any sales. I reduced it to 1.50 times the original price. I don't want to price them to high that I dont get any sales, but not to low that I dont get a profit. Thanks in advance!

Audriusp

Entrepreneur1980

Hey there,

The price shouldn't be the determining factor while dropshipping. Though, I would recommend to check out this article to learn more about competitive pricing: https://www.oberlo.com/blog/pricing-strategy-for-ecommerce/

As @aster said already, the prices on your store may vary depending on what their original price on AliExpress is. It's very situational and also depend on the products that you're selling.

I assume you've been doing some of the marketing already. Could you tell me the results? Also, we have another great article which points out places of where you should pay more attention: https://www.oberlo.com/blog/feedback-on-my-store/

Hope this helps!

rjlarge

Personally I have been using 1.6 and then seeing what the cost is for e-packet, If needed I will add another $1 or $2 to the price if it makes sense.

Robert

Entrepreneur1980

Ok...... thanks

tmf2004

I think my products are to high honestly... I've changed the prices a lot in the 2 weeks.. After my coupon is used I may make $3 to $7 on a product. I set it up how the tutorial i watched on Youtube and some products are just to high..

Entrepreneur1980

Exactly. I dont want to run customers away due to high prices.

aster

My prices are x3 and x4
and I have sales. It all depends on what you are selling, how qualitative are those products and what is the price you think you buyers will take as affordable and acceptable. For example if the product cost 30$ and you sell it for 90$ I don't think is a good idea. But if it cost you 10 and you sell it for 30 and you are confident that it worth this price and competition sell for much more - then you can sell it with this markup.
Think about value you add on every product. You need to add more photos, more copywriting, more guarantees and so on.

LisaDCarmichael

I have my own shop and products and another one for dropshipping...Don't let yourself get stuck in pricing TOO LOW---that happened to me with products that I slave over and make myself---
If people see a cheap price- 8 out of 10 will pass---wondering why it's so cheap and if it's so cheap- it MUST be no good and they will go somewhere else to buy. Trust me. Price too low and it messes it up for everyone.

juliio

When I was doing Amazon FBA, I found this product that was selling a lot and it was selling for $150 per item. Believe it or not, I found it for $10. Anyways, I was new so I figured, hey, If I sell it for 30, I will be able to sell it quick. Didn't sell a single item in 1 week. I then changed the price to 84.99 and got sold out in one day. Made over 2K that day.

Magda

juliio no way! Are you being serious?

I have personally seen more success with slightly raised product prices, but not of that caliber! $30 to $84.99 is a huge difference. Amazing job! If you don't mind me asking, what category was the product in? Just wondering if it was clothing or electronics as I'd love to know if this phenomenon works better with certain types of products.