blog / article

My top 3 money-making tips for Q4

by Leo Chan
10 Sep 2020

Happy Labor Day! I hope you get a nice little break. You’re gonna need it – think about the boxes you have to pack tomorrow. This is game on for Q4!

Everyone talks about more sales. Sure… but what about more profit? So I combed through the stats and analyzed our top 50 sellers’ settings. I learned how they set up their StreetPricer. Here’s what I found. These 3 simple tricks are most prevalent amongst the highly successful sellers:

1. Match the lowest – but only if your sales drop

This is so smart! It happens all the time – yes someone is cheaper but you have the better pics and description, and you’re selling well. Why should you drop the price? We have the feature to implement this policy – but it is at the bottom of the page and most people missed it. Here I have an example of

“if I’m selling 5 or more in the last 7 days, leave price unchanged”

Wk36 - match lowest only if your sales drop

2. Use Velocity – 5%+ price drop to get eBay send out those price reduction emails

Have you ever wondered how you could get eBay to send these emails out? The answer is the magic 5%. If a price reduction is more than 5%, it triggers a re-rank of their search algorithm, and quite often they will send these “Price reduced by” emails on your behalf, at no cost to you! This is gold.

Wk36 - price reduction email from eBay

So if you use Velocity repricing and consider dropping the price, try to enter a value that is greater than 5%.

Wk36 - velocity - alt

3. Update Floor prices – as often as you can

Setting floor prices is the most effective way of protecting your profit margin. It is a simple lever to decide whether you are chasing turnover, profit, or somewhere in between. We have several ways to set floor and ceiling prices, such as using AutoFloor, CSV, or we can help you set up FTP or API. The successful sellers update their floor prices regularly.

Give these top money-making tips a try. Find the right formula for you:

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If you get stuck, you know you can count on us. We’ll always be here for you.

ABOUT THE AUTHOR

Cardy Chung is the founder of StreetPricer. Read more articles by Cardy Chung.

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