Improving Holiday Season on eBay by Perfecting The Pricing Strategy
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The Black Friday and Cyber Monday (BFCM) event is a cornerstone for online retail. It marks the onset of the holiday shopping season. Buyers not merely browse but go on a mission to find the best deals. And if they don’t find what they’re looking for, they move on to another marketplace or seller.
Cyber Monday 2022 saw a spending of $11.3 billion in the US alone, up from $10.7 billion in 2021. It underscored the escalating consumer spending during this period. Keeping the above scenario in mind a well thought eCommerce pricing strategy becomes crucial for eBay sellers.
In this blog, we will get into key different pricing strategies like Penetrating Pricing, Competitive Pricing, and Dynamic Pricing. These are particularly relevant to eBay sellers and can be a guiding light for the upcoming festive season.
[Visit the Pricing Section in the App and enter the code: BFCM2023EBAY for your desired subscription plan]
Understanding Pricing Strategies
In the marketplace of eBay, high demand events like Black Friday and Cyber Monday (BFCM) require an eCommerce pricing strategy. This strategic approach helps in maximizing sales and staying competitive.
We’ll cover three basic different pricing strategies: Penetrating Pricing, Competitive Pricing, and Dynamic Pricing, tailored for eBay sellers:
#1. Penetrating Pricing Strategy
Penetrating pricing is a strategy often employed by new entrants in a market. Here…
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