A quick question about selling...
To explain a bit, we stock products where a lot of our competition drop ship. So when the wholesalers or manufactures are out so are the drop shipping shops. But since we carry stock we usually have the items.
At times it almost feels like we should upcharge since almost no one else has the item.
I was considering doing demand pricing for products where we are the only ones that have the item. Do you think this would make customers mad or is a foolish thought?
Thanks!
Mike
If your products are highly demanding. And no one has it. Then it's not a foolish thought.
What is Uber ( Cab Service ) doing during peak hours? They surge the price by some percentage. They say it and do it. It is written with the price itself ( Price surged )
So you can write along with the price, due to increased demand for the product. The current product price is surged in a small info box.
So customers also know that this is not a permanent price. This way you don't lose customers as well.
What is Uber ( Cab Service ) doing during peak hours? They surge the price by some percentage. They say it and do it. It is written with the price itself ( Price surged )
So you can write along with the price, due to increased demand for the product. The current product price is surged in a small info box.
So customers also know that this is not a permanent price. This way you don't lose customers as well.
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Hello,Cue4cheap wrote: ↑Wed Aug 28, 2024 3:48 amA quick question about selling...
To explain a bit, we stock products where a lot of our competition drop ship. So when the wholesalers or manufactures are out so are the drop shipping shops. But since we carry stock we usually have the items.
At times it almost feels like we should upcharge since almost no one else has the item.
I was considering doing demand pricing for products where we are the only ones that have the item. Do you think this would make customers mad or is a foolish thought?
Thanks!
Mike
Charging a premium for in-stock items when competitors are out is a savvy strategy. Just ensure transparency with your customers, explaining the value of immediate availability. Demand pricing can be justified if it's done thoughtfully, but keep an eye on customer feedback. A balance between fair pricing and capitalizing on your unique position could offer the best of both worlds. Have any other businesses in your industry tried something similar? Whataburger Visit Com
Best Regards,
Thomas Brown
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