Msg#: 4190694 posted 4:26 am on Aug 23, 2010 (gmt 0)
I was just wondering what price level are the majority of the products that you sell on your ecommerce site? low, medium or high priced items?
A majority of my items are a mix of low and medium priced items, but I'm thinking of adding some high priced items to my ecommerce site.
Since it still takes the same effort to sell a low vs a high priced item, and the profit margins tend to be better on high priced items. I was thinking this would be a good move to add some high priced items to my ecommerce site.
With low being less than $50, medium being less than $100, and high being greater than $100
Msg#: 4190694 posted 10:17 am on Aug 23, 2010 (gmt 0)
Our core product range (online) was primarily built on low priced items (by your definition), we've recently introduced higher priced items, around £100 and have been really surprised to find that we sell far more high priced items than low priced items.
Our theory is that the low priced items can be gotten anywhere at any time, the higher priced items are a considered purchase – people go online to buy after having done some research and comparison, as long as your high priced items are treated as such (stunning photography, very detailed descriptions, many alternate view images, and answer every question a customer could think of before they have to ask) then you'll probably do well.
We're also finding that whilst customers are buying higher priced items they're also adding a couple of low priced items at the same time.
Msg#: 4190694 posted 7:44 pm on Aug 23, 2010 (gmt 0)
My stuff is all over the place. But I love high level stuff. If I could sell just one high level item a month to cover me, I'd be a happy camper. Sitting there wrapping up little nickle and dime stuff all day is for the birds.
Msg#: 4190694 posted 10:48 am on Aug 24, 2010 (gmt 0)
"Turnover Is Vanity Profit Is Sanity"
The first time I heard this quote was when talking to someone who has run an online store for 11 years and counting. She was talking about a neighbouring company who sell very high volume but with low margins. Her opinion was why make yourself busier then you need to - especially when you consider the extra costs involved when dealing in higher volumes.