Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

What Pricing Strategies Can Learn From Top Ecommerce Marketers

What Pricing Strategies Can Learn From Top Ecommerce Marketers

There is a difference between selling things online and offline. We should make different pricing strategies according to the actual situation. But most of the things are common. If you can study some skills from a successful person, that will be better. But many articles about online business are basically self-describing articles, and there are few real critical business skills. Therefore, online business is like a business offline. All the ways of doing business are summed up by yourself.

 

1. Selling at the same price

 

There was a small shop in England, but business was sluggish at first. One day, The owner came up with a brainstorming idea: As long as the customers pay 1 pounds, the customer can buy any products in the store (the goods in the store are all the same price). This can be said to seize the people’s curiosity. Although the prices of some commodities are slightly higher than the market price, they still attract a large number of customers, and sales are higher than those of some nearby department stores.

In the retail business, selling at the same price is popular, and so is sharing sale at the same price. For example, some small shops offer 1 cents commodity counters, while some big stores set up 10 dollars, 50 dollars, 100 dollars commodity counters.

 

2. Division pricing strategy

 

Customers are more sensitive to price than all other factors. Because the price represents the money in his pocket, you need to make the customers think that you just take a little money from them, not a lot. Price segmentation is a psychological strategy. When the seller fixes the price, adopting this technique can make the buyer feel the price is cheaper. The price segmentation includes the following two forms:

(1) Quoted in smaller units. For example, 10 dollars per kilogram of tea is reported to be 0.5 dollars per 50 grams. 1000 dollars per ton of rice is reported to 1 dollar per kilogram and so on. The advertisement for the Paris subway is: “only 30 francs are required, and 2 million passengers can see your advertisement.”

(2) Compare the prices in the smaller units. For example, “if you smoke a cigarette less a day, you can order a newspaper every day.” The average refrigerator cost is 0.2 dollar per day which is only enough for you to eat an ice cream. Remember that small unit are easier for customers to accept when making quotations.

 

3. Non integer pricing strategy

 

What Pricing Strategies Can Learn From Top Ecommerce Marketers

The difference between the least bit, It’s lost a thousand miles. This is a non-integer method of setting the retail price of commodities into a small fraction ending. Sales experts call it “non – integer price”. This is a price that can excite consumers’ desire to buy. The starting point of this strategy is that consumers always feel that the price of the fractional price is lower than that of integer price.

One summer, a daily grocery store stocked a batch of goods and sell at the price of 1 dollar per item, but buyers were not enthusiastic. The store had to decide to reduce the price, but considering the cost of the purchase, only 2 cents was reduced, and the price became 0.98 dollars. I can’t imagine that the difference between the 2 cents has made the situation steeper, and the buyers have been in an endless stream, and the goods have been sold out quickly.

The practice has proved that the “non-integer price method” can really inspire consumers to get a good psychological response and get obvious business results. Because the price of non-integer is similar to the price of an integer, but it gives consumers different psychological information.

 

4. Arc digital pricing strategy

 

According to the foreign market survey, it is found that in the prosperous business, the numbers used in the pricing of products in supermarkets are ranked 5, 8, 0, 3, 6, 9, 2, 4, 7, 1 successively. This phenomenon is not accidental. The root of this phenomenon is the role of consumer psychology.

Figures with arc lines, such as 5, 8, 0, 3, 6, and so on, do not seem to be irritating and easy to be accepted by customers; The numbers without arc lines, such as l, 7 and 4, are not very popular. Therefore, in the markets, the number of commodities sold in supermarkets is 8, 5 and so on, and 1, 4, 7 appear less frequently.

Leave a Reply