Reducing price? and selling costs.

[musicyouneed2]

How long after you have listed an item do you consider reducing the price?  How do you determine what price point? 

I sell CD's and prices on ebay are all over the place and so are sales.   All my CD's are in almost perfect condition and if they are not, everything is listed.  On my other ID, I put on sales a couple of times a month and that seems to help but Sept was terrible. Sept 2020 I sold 72 and this year Sept, I sold 39 on both ID's.  

I had to raise my shipping amounts this month as my selling costs like shipping and envelopes have gone up a lot:

Bubble envelopes went from $.40 to over $.60. (looking for cheaper envelopes through facebook)

Postage through Chit Chats went up $.50 for media mail. 

CD's are all put in a new jewel case $.50. 

So if I charge $4.50 cdn for shipping, I get 4.05 clear (approx), I pay $3.35 for postage, .60 for envelope and .50 for new jewel case total 4.45. I lose $.40 each time. 

I am not sure what to do here, my best selling months are Sept through Jan, should I just reduce the prices a lot and get them sold?  Do people even buys CD's anymore?  I do, I have never bought anything off itunes and never will, but I am old and like the physical item.

[pjcdn2005]

I doesn't have a set system as far as sales go so can't really answer that question but I am wondering what type of envelope that you use for cd's.

I think that September has been slow for a lot of people but hopefully that won't continue for the next few months.

[ricarmic]

To my thinking you're selling to a slowly diminishing market (same as many would say about my market).

There's been much conversation about slower sales generally in the last few weeks.

The problem in a diminishing market is that if "everyone" reacts the same way with sales etc, it simply sells the limited amount of stuff that was going to sell to the people what would have bought it anyway but at a lower price.

I have had almost no success from sales, I have had tremendous success from non expensive promoted listings - just checked and 50% of my sales so far this weekend were promoted listings.

If you have the time to invest see what stuff is actually selling for and how quickly. That will help you decide if you're going to dump and run or tough it out. Those who tough it out have a chance that enough dump and runners might happen that prices stabilize a bit more realistically, or not, who knows!

If your quality is of the "collector" style instead of the "use it" style, if there is even a collector market for CDs, that may be something to focus on too?

[mrdutch1001]

I rarely ever reduce prices as ALL my items are also listed on other selling sites= different audiences...

as someone who has owned everything from the old 78s & other vinyl>8-track cartridges,cassettes, CDs,DVDs, I can honestly say, NO I do not buy CDs anymore...they can be had for $1 at most garage & yard sales...

Personally I still prefer vinyl,but for the past 15 years have been selling off my lifetime collection and am now down to the last 450 or so...

There are thousands of radio stations/live streaming music stations/Sirus XM stations,etc,etc. available world-wide on the internet for computers,laptops,iphones, cellphones,etc.. I find little need anymore for the physical media formats...

[femmefan1946]

Streaming is definitely the competition.

But as one whose favourite TV show comes and goes on Netflix (15 hours of ecstasy- a lifetime of regret) I am glad I have my DVDs. Same goes for the CDs I have purchased, even though most of them are now loaded into my iTunes library.

I like Promoted Listing -- at least to get Views. But while Views go up with new PL campaigns, it seems to me that it is other stuff that sells.

Still as long as something does.

Best Offer has been pretty good too. I use the parameters to automatically and politely turn down Offers that are too low.

[marnotom!]

I think the past may also be your competition.  I don't know if you lived in Western Canada in the 90s or 00s, but there was a major regional electronics chain (Full disclosure: I worked for them for a while) that heavily discounted CDs.  It wasn't unusual for them to advertise new releases for $14 or less and have promotions on mid-price releases for $10 and use multiples pricing to get them down to eight or nine dollars each for those wanting to "bulk buy."

Your CDs may be in mint condition with new jewel cases (thanks for doing that, BTW), but I think a lot of people are going to perceive them as used CDs and in the context of the music retail environment in the 90s and 00s, are going to consider them overpriced.

Not your fault, but the shipping price probably isn't going to tip things in your favour, either.  Once you add $4.50 in shipping to your Kashtin CD, for example, it's going to take the price of the disc within spitting distance of $30, and those with memories of getting regular-priced CDs from that electronics store for around $20--or 20% off that price during a long weekend sale--are not likely going to click that "buy" button.

I know you say CD pricing is all over the map on eBay, but yours is as well.  The Solitudes CDs you have listed under your other ID are all different prices, despite all being in mint condition, and I can't figure out why.  It's tough to give advice on discounting your merchandise when you don't seem to have a clear pricing strategy to start with.

I'm trying not to be harsh here.  I'm sure there are good reasons for doing things the way you're presently doing them, but the latent music retail geek in me looks at your listings and gets very confused, and confusion doesn't entice me to buy.  I don't know if other music geeks think like I do, but I'm just putting that out there.

FWIW, despite having an Echo Dot, Sirius XM and internet streaming at her disposal, my wife still likes buying new releases on CD.  They all seem to be pressed outside of Canada, now, though.

[rocketscollectibles]

CD's are dying. Most kids nowadays grow up with digital. The entire world push in that way. Look at gaming console like the PS5, they even produced a version without a disc reader. Digital cost less to produce and distribuate, they don't have to produce boxes, artworks, distribuate, etc, but it's sold at the same price, and most don't notice it. For sure they'll push people to adopt the digital lifestyle... Also i personally think that one day like maybe in 10-40 years who knows, slowly production may be restriced for environment, like plastic, or they gonna use the environment argument to try to stop it, and just do more money

I hate digital, i hate to pay for something invisible that i can't have in my hands, dependant of softwares and stuff that could crash anywhen, but discs future does not look bright for sure. Maybe someday market will turn into high end collectibles cause they produce less too, who knows

[immediaterecords]

I am also in Canada. I sell some CDs but mostly vinyl records. Sales have dropped drastically year to year this September. Not sure what's going on. I tried reducing prices. Didn't help. Included some of the shipping cost in my price. Didn't help. Had 'free shipping' on some items. Didn't help. I really don't know what's going on.

[mrdutch1001]

Yes, my vinyl sales have been off for the past couple of years but because I put my eBay selling on full stop back mid-April, I recently started listing some of the vinyl on FB Marketplace and have made a few sales there without the fuss & bother of shipping, although I have no issue with shipping vinyl- it is easy enough to do, but the shipping cost factor to buyers is not so well accepted anymore....

[musicyouneed]

Thanks, I don't consider it harsh, maybe a touch of reality which I need.  Thanks for taking the time to provide feedback.  When I look at pricing, I search ebay, discogs and amazon and price it in the middle.   Pricing all depends on scarcity and CD and artwork condition.   Now, I do think I need to update my prices to todays market.  I may put on another sale for 20% off then more later if needed on my main ID.  

Re Kashtin:  I just sold a Kashtin CD, last month for $20 plus shipping.  I listed another one as I have a couple of them.  There are 4 listed, the price including shipping to Canada ranges from $26.59 to $84.71.  Mine is $28.50 Near Mint condition.  The one listed for $26.59, seller had 30 negs in the past month alone.  

Solitudes:  Again, pricing depends on scarcity.  I am going to review my prices as many were set last year.  With Solitudes CD, many buyers buy more than one, common order is 4-5.  

I will not be buying any more CD's as I have about 10,000 or more to list yet. 

Also I went on .com community and slow sales over the last month is right across the board in every area.  

Thanks everyone for providing feedback and their comments. 

[teenytrinkets]

My sales are down this year by a similar amount. I'm not sure the trend for CDs is necessarily going down - its just a niche market that fluctuates. My teen daughter just got a CD player and is buying up old CDs. It's a novelty for her.

I still buy old OOP or rare DVDs myself, generally of programs I can't stream or get on cable.

You're lucky to be able to ship media mail via ChitChats. I signed up too late after they ended that option (around 2 years ago). All my tiny packages are $5-$6.

I typically end my stale listings, create a similar one (sometimes with a new photo), and price a tad higher with best offer. They usually sell better that way, rather than lowering the price. I also try to put them in a lot, or remove them from a lot, as a "rebrand" to see if the listing gets more interest that way. I may also promote the item, if I notice it's not selling because there's too many of the same item and/or low views. The stuff that's been kicking around for more than a few years gets donated.

[femmefan1946]

When I got my new computer, it took me a couple of weeks to notice it doesn't have any way to play CDs or DVDs any more.

[femmefan1946]

@musicyouneed2 

Talk about prices being all over the place.

Amazon is nuts in terms of pricing. I have a few books listed there that are $75 or $100 lower than the comps. It's really obvious on Addall, which comps from dozens of online sites,some big, some tiny. Once you take out the real rarities, the crazy high prices on ordinary paperbacks are always on AZ.

Still if the customer is smart enough to compare prices on other sites, they will find me here. And my books listed here are cheaper than the same titles on AZ. About a third of my listings there are the lowest price, even so.

I wouldn't pay too much attention to eBay sellers moaning about low sales. That started around October 1975 and has continued every day since.

[mrdutch1001]

yes many of the new computers have eliminated the ability to play CDs/DVDs ...fortunately my computer is still old enoungh to accept both.

[ricarmic]

Experiment suggestion.

I see folks in the stamps world who seemingly are selling stuff much higher than usual prices wise and they are very highly promoted, or so it seems (they're doing this with a fair number of items).

It appears they're putting themselves in front of so many eyes, they eventually find someone who's not price checking.

Suggestion is to take a few of the items you're going to discount 20%. Keep the original price and put a whopping promoted % on them, say 10% assuming this is a fair bit above the average in your category(s). This will put you above everyone else for sure and if something sells, it still only costs you half of what you would have spent if you'd reduced the price. It still leaves you 10% wiggle room if you get hagglers as well.

It can't hurt to try...one never knows.....

[femmefan1946]

Many sellers will say that discounting makes the seller look as if she were overcharging with her first price. I tend to agree with that.

It goes with the realization that a reduced price sale just brings in the same buyers, but reduces your profits. It also trains your buyers to wait for the lower prices.

Best Offer gives the buyer the opportunity/fun of haggling, gives the seller the opportunity to research the buyer a little, and doesn't tell the world you folded on your price.

YMMV.