how to raise prices

[femmefan1946]

[lotzofuniquegoodies]

In principle this is possible for sellers selling like letter type items 95/100 of the time. Not so possible for sellers selling OOAK unique items where shipping varies by location substantially.

-Lotz

[byto253]

I am not surprised that offering flat rate shipping instead of free shipping is a positive.  I use free shipping is some circumstances but for some items it provides the impression of a more expensive item as buyers assume my shipping cost is negligible.

[femmefan1946]

I was surprised that "Increasing the minimum purchase for free shipping" was so popular compared to "Increasing the shipping fee" which to my mind are pretty much the same thing.

What the graph shows is that you can sell an price increase, if you sell it the right way.

[recped]

Looks like I'm using the least popular method (simply raising the price of the item). The difference is that I doubt many of my buyers are aware that something I had listed a month ago at $14.99 is now priced at $16.99.

I experimented with an Item I've been selling for the past few years at $51.99, usually selling one or two per month. After raising the price to $69.99 (about 25% higher) I sold two in 4 days!

I know in my own experience that the things I buy on a regular basis (grocery items) I notice even the smallest price increase but for items I only buy once I would not likely have any idea what the price was a month ago or a year ago.

Online buyers seem particularily obessed with shipping charges so I keep those low and increase the item price instead.

[femmefan1946]

Apparently there is a thing called "aspirational pricing" which just means that some people think their purchase is better when the price is higher.

[lotzofuniquegoodies]

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@femmefan1946 wrote:

Apparently there is a thing called "aspirational pricing" which just means that some people think their purchase is better when the price is higher.

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What about the concept of "optimistic pricing" from the sellers perspective. What they hope they will get but possibly is only a best case scenario.

This in the olden days was called using auction format. 

Now you add best offer. To do so, you have to price at bare minimum high enough to have room to come down.....by something!! The joys or perils of "wiggle room" depending on how you look at things!!!

-Lotz

[femmefan1946]

As I understand it, "aspirational pricing" is used to give low value or very ordinary products a gloss of being special.

In my experience for example, Calvin Klein womenswear is poorly made with cheap materials, but costs about the same as Ralph Lauren which uses heavier fabrics and sturdy notions.

But I agree with your thoughts on Best Offer.

It does attract buyers, who don't seem to understand that the "accept offers over..." is the real price the seller wants.

Best Offer also gives the advantage over Auction of being faster.

The entire purchase can be done within minutes if the buyer makes a decent offer and automatic acceptance is enabled.