How to Price your Products to be Profitable and Competitive

There are a multitude of factors that affect profitability and a merchant’s bottom line. Setting the right price for your products is an important step toward achieving that profit. Out of the profit margin comes the cash to cover expenses and the income for you, the owner. In a competitive industry like ecommerce, however, pricing can be a surprisingly troublesome beast.

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How to Start a Dropshipping Business in 5 easy steps

Being your own boss, working from wherever you want, and having access to a global market: these are all perks of having your own ecommerce store. Honestly, I can write an entire ebook on how the internet has transformed the way we work and live, with new success stories emerging all the time. However, starting an online store isn’t a walk in the park…

… it’s hard work.

Generally, it requires a good understanding of things like marketing, logistics and fulfillment, to name a few, but focusing on these areas before you even get started can be stressful. Then, you have to chalk out a plan for inventory storage, which can pose an even bigger challenge if you plan to operate from home.

 

That’s where dropshipping becomes your savior.

 

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Holiday Tips Part 2 : What Product Selection Sells Best During Holiday Season?

This is Part 2 of our series on Holiday Tips. To start from the beginning, read our first article here.

Christmas is fast approaching, and many retailers are already on the countdown to final product assortment. As a well-organized ecommerce merchant, you’re also looking to jump on the assortment planning bandwagon. However, the challenge for most retailers lies in determining what products to select for their holiday ecommerce assortments.

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Holiday Tips Part 1 : What Should Your Pricing Strategy Be for the Holidays?

This is Part 1 in our new series on ways to prepare your business for the Holidays. 

It’s practically tradition for the holiday season to mean great deals, starting with Black Friday through to the classic after-Christmas and New Year’s clearance sales. According to Deloitte’s 2017 holiday survey, these sales have become so reliable that 44% of participants said that they wait for holiday sales to make big-ticket purchases, and 42% said that they only purchase sale items when holiday shopping because they know that their desired items will eventually go on sale.

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Why Your Product Mix is Important

As an ecommerce company, your product mix is arguably the most important part of developing your brand. While it may seem logical to offer as many products as possible to appeal to as many customers as possible, this is rarely the case. On the flip side, having too small of a selection can cause you to fall short of meeting your customers’ needs, which can ultimately limit your profit potential.

The most successful ecommerce businesses devote research, testing, and analysis to make sure their product mix hits the sweet spot.

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P2P Marketplaces : Retail

In our last post, we explained the basics of the peer-to-peer (P2P) economy. Today’s post will take an in-depth look at how this market design affects the retail industry and the role of dropshipping in the P2P economy.

Los Angeles mom Evelyne Teman made $500,000 dollars in three years from selling clothes on Poshmark. On Depop, Millennial entrepreneur Bella McFaden(depop username: @InternetGirl) withdrew from College to sell on Depop full time. Like Teman and McFaden, many individuals today use P2P fashion platforms such as Poshmark and Depop as mechanism to get rid of unwanted clothing and as an alternative way to make a living.

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