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How to Set Prices for Dropshipped Products?

When you import products from DouBridge, they have the original prices; therefore, in order to start earning profit from selling these products, you will need to increase the price.
The original price of the products in your store is also known as product cost. This is how much you will need to pay when placing an order with DouBridge.
In order to run a profitable business, you will have to determine what the final price of your products should be and then set the mark-ups or margins for them. The profit will always be the difference between the amount of money the customer paid and the cost of the product you pay to DouBridge.

 

When setting your prices, you should consider several things.
First, consider what type of products you are going to sell. Product cost should directly determine how much you will charge for a product. For example, if a product cost is under $4.00, it would probably make sense (depending on the product category and type) to mark it up 4 or 5 times and sell it for $16.00 - $20.00 which would allow you to make a profit up to $15.00 - $20.00, depending on any other associated costs.However, if the original cost of the product is $30.00, it wouldn't make sense for you to mark it up 4 or 5 times since the final price would be $120.00 - $150.00. While you would, in theory, be able to make a large profit from those sales, the likelihood of making sales at a high price point is low. For example, if you are selling helmets which cost you $30.00 to purchase from the supplier, then you are unlikely to sell them for a five times higher price
Second, you should consider all of the other expenses or costs your business will have, such as marketing expenses and transaction fees. Do not ignore these when setting the prices of your products, as these are important and necessary costs to your business and should be included in the pricing of your products in order to run a profitable business.
Last but not least, spend some time researching how much other stores are charging for similar products in order to better determine price points for your products. It is not recommended to start competing with other stores on price since that is not a good long-term strategy. There will always be a store that can sell the same products cheaper.

How to set sale price on DouBridge?
There are 2 ways to set sale price on DouBridge.

1.Directly add a profit figure on the product cost, say $5.00.
2.Set a profit rate for the product.

 

 

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Article details
Article ID: 23
Category: How to set price?
Date added: 2018-03-21 15:04:40
Views: 95
Rating (Votes): Article rated 5.0/5.0 (1)

 
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