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Thread: How often do you change your prices? Seasonal or based on your competitors?

  1. #1
    Join Date
    Apr 2018
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    4

    How often do you change your prices? Seasonal or based on your competitors?

    as e-commerce retailers, how do you approach these two different strategies? Which one do you think is more effective?

  2. #2
    Join Date
    Jul 2017
    Location
    Indonesia
    Posts
    136
    it depends on the product you sell, competitors, and policy

  3. #3
    Join Date
    Jul 2018
    Location
    Bangalore
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    20
    Changing pricing of the products depends on different factors like -
    - How much discount you can afford in order to remain profitable
    - How much your competitors are selling for
    - If you are expecting a surge in order due to some festival and or season then how much price you can lower but makes relatively better profits.

  4. #4
    Join Date
    Mar 2019
    Posts
    155
    It depends on the products you sell online or offline. Sometimes, for making a good position in the market, the business owner never changes the price of the products. I think, they should not.

  5. #5
    Join Date
    Sep 2019
    Location
    USA
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    180
    It depends on you that how you want to sale Seasonally or Regularly.

  6. #6
    Join Date
    Sep 2017
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    138
    This is quite a difficult one. Unlike real world stores eCommerce sites can pop up overnight and undercut the prices have on your website. They have a saying in the real wolrd of business not that online isnt real. Undercutting is a shortcut to the grave, this mens if you drop your prioce he will drop his and you will drop yours until nobody makes money. Google and facebook are two big online entities that have done it right if google presents a product online that is cheaper than facebooks facebook will create a product that offers more value, so try that try oferring more value to your clients instead od changing prices compared to competitor websites. Also make sure you are making a profit and lastly seasonal changes like yearly for inflation puposes its ok to add 5 - 10 % most people expect this. We do this often with our graphic and web design services.

  7. #7
    Join Date
    Sep 2019
    Location
    USA
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    180
    It totally depends on Customers when they are coming to buy your product, if it comes Seasonal then they will get offer if applicable if not then they will get to regular rates. If the Product sold out more than for that product you have to make your rates low, for that particular product.

  8. #8
    Join Date
    Dec 2021
    Posts
    97
    Probably once a year or so

  9. #9
    Join Date
    Aug 2020
    Posts
    87
    Not only competitors but also customer demand and market situation have a direct impact on the price of your product. I've recently read a good article about Impact of Inflation at PissedConsumer. High inflation will erode the budget of consumers, leading to lower overall economic growth and reduced standards of living. With higher prices, businesses have fewer customers, so it is essential to be careful when you increase prices on your products or services.
    Last edited by Alex7788; 05-21-2023 at 07:26 AM.

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