Pricing

60 posts / 0 new
Last post
ladytaelorae
ladytaelorae's picture
Offline
Last seen: 11 years 6 months ago
Joined: 29/03/2009 - 2:19am
Pricing
What is the best strategy for pricing a store? I currently stock clothing/grooming and a few wearables. I just recently started stocking backgrounds.
angel_shortcake
angel_shortcake's picture
Offline
Last seen: 10 years 2 months ago
Joined: 20/06/2008 - 1:59pm
I have an excel sheet with a list of items that I stock in the order that they appear in my shop. I go down through that and my shop, and SSW the items that I don't have, and put the price that I want to sell in the next column in the excel sheet. Then when I'm done that page in my shop, I quick stock everything, and price it from the excel sheet, and go to the next page to repeat. I find I get more searches from the SSW when I do this (But it could be a coincidence, or maybe just SEEM like I have more since I'm breaking in between), and it mixes it up. I LOVE this method. I am going to try the neomallers portal though, I think I'm going to like that even more...
bugsybogis
bugsybogis's picture
Offline
Last seen: 11 years 1 month ago
Joined: 17/04/2008 - 7:07am
If you are talking about the technical concept of pricing, anything with 000 at the end, I find very hard to sell. (ex. 5000, 9000, 10000). But if I put prices at 4900, 8900, and 9900, they sell better. For the general concept of pricing - try to keep a steady high price for your popular items. Try to steadily increase the price so that it still sells many and you gain much more profit. If for instance, the customers stopped buying that popular item, try to lower it little by little until you find the perfect price. ;) Basically, all the others, it all depends on your size and your mall. Malls with higher traffic need a higher markup (= more profit). Otherwise, you must be contented with OKAY markups. It is at your own discretion how to mark up though. If you need extra traffic (extra traffic is always good), keep a number of wiz priced items and always update the price everyday. Always try to keep them in stock. _______________________________________________ Bugsy's GUIDE to Effective SHOPKEEPING and MALLING: Version 3: Learn More About Hut Positioning Edition http://www.neopets.com/~bugsy_lenny
. _______________________________________________ Bugsy's GUIDE to Effective SHOPKEEPING and MALLING: Version 3: Learn More About Hut Positioning http://www.neopets.com/~bugsy_lenny
bugsybogis
bugsybogis's picture
Offline
Last seen: 11 years 1 month ago
Joined: 17/04/2008 - 7:07am
By the way, I do Wearables. I suggest you always keep the quest items in stock and in a fair number (2 or 3 or even more - depends on you). Stock first the wearables that can be worn by all pet species, they tend to sell better. But I must say, single specie wearables can bring a lot of profit, but you need to have a very high starting money to stock them all up (most of them are expensive) _______________________________________________ Bugsy's GUIDE to Effective SHOPKEEPING and MALLING: Version 3: Learn More About Hut Positioning Edition http://www.neopets.com/~bugsy_lenny
. _______________________________________________ Bugsy's GUIDE to Effective SHOPKEEPING and MALLING: Version 3: Learn More About Hut Positioning http://www.neopets.com/~bugsy_lenny
ladytaelorae
ladytaelorae's picture
Offline
Last seen: 11 years 6 months ago
Joined: 29/03/2009 - 2:19am
I have a word document with a chart of all the items I sell under 1k to restock from. I am just not sure what the markup should be. Currently I am not in a mall I just recently left in order to figure out what to do with my store. I joined 3 different 4mil ad groups instead of being in a mall. I have thought of going strictly wearable/backgrounds but I do have a lot of customer that use me for the air faerie quest. I just really wish I could increase my profit and sales and not change my inventory too much....besides adding more items ;) Any tips are welcome! Clothing, Grooming, Wearables & Backgrounds~ http://www.neopets.com/browseshop.phtml?owner=ladytaelorae
Neo-Home & Garden ~ http://www.neopets.com/browseshop.phtml?owner=ladytaelorae
killercars5000
killercars5000's picture
Offline
Last seen: 13 years 8 months ago
Joined: 28/02/2009 - 11:59am
I would try and get into the main market (you only need 9 more shop upgrades to be in main market) then maybe gradually raise your prices, at main market size you don't need to price items at 300nps, you can't be making much profit by doing so. would reccommend at least doubling your prices on cheaper items like that
kirsty_to_stay
kirsty_to_stay's picture
Offline
Last seen: 8 years 8 months ago
Joined: 22/04/2008 - 8:01am
I used to stock wearables, clothing and grooming too a year ago. I loved my sales and extra boosts that I got from doing the quest spots too. However with time I realised that the wearables weren't selling as well as they perhaps could. So if you were to switch to just wearables, try not to think about the lost profits from the quest spots, as it is likely your overall wearables will do a lot better anyway.
___________ Kirsty aka "the sensitive one" Silverdragon siggy stealer Tasty tent seller
Nicann4
Nicann4's picture
Offline
Last seen: 11 years 2 months ago
Joined: 13/11/2007 - 7:47pm
Okay, well perhaps I'm different from everyone else lol. With one exception, I always try to price as low on the ssw as I can. I've recently gotten to where, anything over 10k, I don't buy unless I can price it lowest on the ssw and still make at least 1k profit from it. So, anything over 10k, when I put it in the shop, was in there as lowest on the ssw. Anything from 1k-9999, if possible while still making profit I price lowest. Many times with buying several of the same item, you can manage to price lowest and still get a decent profit from the cheaper ones you bought. If I buy 5 items that are say 5000 NP, and the next one is 5001, I'll price mine at 5100. I always mark this bracket up 100 NP from the most expensive one I bought, more so if there's that possibility while still staying lowest. So, same thing, if I bought 5 at 5000 and the next one is 5535, I'll price mine at 5534. Anything that I buy under 1k, I always price 1k. Even if I spent 1 NP on it. *shrugs* works for me lol
Sophie703
Sophie703's picture
Offline
Last seen: 6 years 11 months ago
Joined: 28/12/2007 - 8:56am
I generally double the price of the item. Let's say I buy it at 2k, I sell at 4k.... Items less than 1k I usually add 2-5k to it.
kirsty_to_stay
kirsty_to_stay's picture
Offline
Last seen: 8 years 8 months ago
Joined: 22/04/2008 - 8:01am
I have to say, I think you are insane Nicole *lol* while it clearly works really well for you, it looks an awful lot of work! I've tried different strategies for different spots, as they all need working differently. With wearables I must say I overprice everything, and by quite a bit, some stuff quite ridiculously actually, not uncommon for me to make 50k off one item 0:-) Been doing the category a year now and so know how to work it. I basically wiz price nothing except for 99k items. Although none of this applies at this second, I realised I have too much invested in stock, and was feeling poor so i've been wiz pricing everything.
___________ Kirsty aka "the sensitive one" Silverdragon siggy stealer Tasty tent seller
Nicann4
Nicann4's picture
Offline
Last seen: 11 years 2 months ago
Joined: 13/11/2007 - 7:47pm
*cry* am not insane lol It's not hard work at all. I use Dmitri's portal of course. I SSW everything I buy as well, unless I restock it of course. So as soon as I buy it, I stick that price in my portal as well as the price I'm selling it for. Boom, done.

Pages