Anyone raising BIN's to account for the exchange? To remain competitive I'm keeping my prices the same (already 3 tims the cost of my competition for labelers 😞 ). My TOS and product knowledge seems to keep me busy every night packing orders however I'm making a whole lot less than I was 6 months ago.
I have always subsidized my shipping . I charge $8.00 US and the actual cost of shipping is $11.40 Canadian for 850 grams. I have considered shipping by small packet ground instead of air but my business partner (ok brother) who is a gold PS gets like 2-3 emails per day "Where the Heck is my order!?"
I sell on eBay to make a profit and while I cant adjust my prices to fully account for the exchange and the strengthening Cdn dollar, I have made adjustments to my BIN and/or reserves or it is simply not worth selling.
If I find that I cant make enough of a profit from a particular product to make it worthwhile, I stop selling that product and look for something that will command a higher price. Something that is more popular while somewhet more difficult to obtain from the competition.
As a rule I never subsidize shipping however for the last month I have been selling several instruments and offering a ridiculously low shipping rate as a marketing tool. All of those acutions have a fixed BIN that has been padded enough to cover my total shipping costs.
Yes it is hurting. Just got over 1.20 at the bank on Saturday. Bt the US dollar gained some strength las 2 days.
My opinion, is Kerry wins, USD will go up. Bush wins, and it will hurt even more.
As far as adjusting prices, you can only do so much. Because of the dollar and increase in shipping rates, I don't sell books over 1kg unless they are valuable.
Only other solution I have been able to use is to get the Paypal debit Mastercard and use it to pay USD purchases. I also pay the ebay fees with it. Saves on conversion costs.
I wish I could buy my groceries in the US or something. I have all this US dollar income and I need money for food and rent. I'm forced to convert... at the mercy of the exchange rate.
They should just make it dollar for dollar and get over it.
I am keeping my US money until it regains some strength (so hope it will). It is hard though because I have more US money but less buying power if I shop Canadian.
