How do I know if I'm pricing too low?

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Missi0584
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How do I know if I'm pricing too low?
Hey guys First, when I SSW for items, I use write what to price it at. I try to stay about 5 or 6 down from the top in the SSW. I like fast sales. But Ive been making 100k+ everyday and I cant keep my shop stocked. Am I possibly going too low by keeping my prices in SSW? Im in a mall, its a smaller mall and my shop size is only 101. Im getting a lot of customers from the Shop Wiz. Last night - 32 items sold totalling 162,810 NP. Yesterday - Items sold: 30 Total Sales: 176,490 NP 03/04/2010 (Saturday)Items sold: 21 Total Sales: 50,275 NP 02/04/2010 (Friday)Items sold: 45 Total Sales: 211,379 NP and so on. I mean Im not complaining about it, I just dont want to screw myself over by selling too low
Missi0584
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(No way to edit my post?) I meant I use portal to write what to price at* http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
----------------------------- The Nursery's Food & Drink Shop! http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
evilbluemunkeyz
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I'm only size 250, but I started malling smaller than your size and at first I wasn't sure how to price my shop but like you I use the SSW to get a lot of my items. What I tend to do is look at the list and see how the prices are spaced out and the usernames. I I know what my category is, and when I find the lowest one of the list that is my username I price a little bit higher than them. I normally give my self at least a 200NP profit off of items less than 1k NP. If its higher and the prices scatter more and aren't close together I'll sometimes up it to 1k. I also do books - so books that aren't as known and look more expensive I will add 1-2k because I have some items priced at SW prices and advertise so I'm hoping people will browse and not look up each item individually. For me sales can be better, but I'm still slowly adding more inventory and just changed categories so its waiting for people to bookmark more often. http://www.neopets.com/browseshop.phtml?owner=evilbluemunkeyz
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desperately_yours
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I price at the top of the SSW and Weekly Statistics This shows statistics based on the 7 days that is shown above. You have sold 1209 items totalling 2,865,563 NP. This means, you are selling 173 items for a total of 409,366 NP per day. Chad's Bakery http://www.neopets.com/browseshop.phtml?owner=desperately_yours
525,600 Minutes http://www.neopets.com/browseshop.phtml?owner=desperately_yours&misc
Missi0584
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Yea To me it seems like if i priced higher id make more XD Im also getting about 4 or 5 people coming back everyday and always buying more then 1 item. Ive never been just one thing in my shop so Im still learning.lol When I played years ago I always RSed at Uni's and the gift shop lol http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
----------------------------- The Nursery's Food & Drink Shop! http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
evilbluemunkeyz
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[quote=Missi0584]Yea To me it seems like if i priced higher id make more XD Im also getting about 4 or 5 people coming back everyday and always buying more then 1 item. Ive never been just one thing in my shop so Im still learning.lol When I played years ago I always RSed at Uni's and the gift shop lol http://www.neopets.com/browseshop.phtml?owner=taintedkrys84[/quote] I just switched to books and I use to restock them and just priced lowest on SW so even though I've sold them before its all about trying to figure out the exact prices. Just play around with your pricing little by little and look at your statistics and the profits you are making then just find where in that middle of pricing low/high works best for you. Good luck! http://www.neopets.com/browseshop.phtml?owner=evilbluemunkeyz
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555flame555
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Hi, I find it best if you use the normal shop wizard, that way you get the best rounded off pice, so you want be too cheap. If you get what I am saying, super shop wizard is good for personal item use, but if you are a maller you don't want the lowest price, so on the normal sw you will hardly ever find the cheapest price to beat, so youwon't be tempted!:D Check out KiD's collectables? http://www.neopets.com/browseshop.phtml?owner=555flame555
Check out Hik's collectables? http://www.neopets.com/browseshop.phtml?owner=htieki
Missi0584
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ohh yea that makes sense! With premium, i tend to forget there is a different sw lolol http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
----------------------------- The Nursery's Food & Drink Shop! http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
mayarend
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~ May ~ Plus, the regular SW is good cause you can get the cheaper on your letter cattegory, so you can be WAY off of the SSW, but still be cheapest on your cattegory (happened to me, cheapest on SSW being 2k and pricing at 35k putting me as cheapest for m-z)
~ May ~
Gavin63
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I price to the top of my letter column if there are other letter columns cheaper so I can replace the item. If my letter column is one of the cheapest I will overprice that item.. Tha Shop http://www.neopets.com/browseshop.phtml?owner=galitare&misc Main Mall Info http://www.neopets.com/~vegemite_kid Branch Mall Info http://www.neopets.com/~Nlcfon
Missi0584
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Thanks SO much for all the help guys! http://www.neopets.com/browseshop.phtml?owner=taintedkrys84
----------------------------- The Nursery's Food & Drink Shop! http://www.neopets.com/browseshop.phtml?owner=taintedkrys84

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