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eBay Price Wars

Question from one of our subscribers:

One of my top sellers has takin a dip in sales for a few months now.
Ive always been the cheapest but not so long ago some idiot under cut my price by quite a lot when considering profit margin,
I left it a while then decided if you cant beat them join them, so i also reduced my price, sales did then pick up and i thought as time goes on we will all raise our prices again so we can all make some decent profit again.

Then this week sales plummeted again, so i investigated again and the same seller and two others have reduced again, Now i know i get a real great price from my supplier and still make ok profit but i feel now the once best seller could soon be classed as a cheap item as everyone is selling too cheap and the item is an affordable piece of kit without these ridiculous
reductions.

At first i thought i wont entertain this price wars but due to lack of sales i have now bounced back with a further reduction myself, So no problem to me but i feel that sellers who start this price wars could put others out of business, Not me as i have a great customer base now,

But does anyone else share my concern with idiot sellers taking the p*** with price wars.

Answer:

Hi!

If the price is right, (value for money), and you decided to stick to it, you would lose customers who are all after finding the cheapest deal possible. I personally think I would not go that way. Instead, you may offer something free or a replacement part – anything that would make you “better” than your other competitors.

Hope this helps! 🙂

 

 
 
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