If you are a new seller on Amazon then obviously you will need to find an edge for attracting buyers to your listings. You may be able to find items which are being sold by many other seller which is a good thing, however you should not limit yourself to those items only.
WHAT PRICES SHOULD I SET MY ITEMS FOR MAKING SALES ON AMAZON?
At first, you should price your items in such a way that they will yield low profits. The goal is to start generating sales by offering low prices so you can start gathering good reviews in your Amazon account. The more good reviews you get, the higher your rankings will be on Amazon and eventually your products will come up on the top of the list.
You can then start increasing your selling prices over time once you start making sales regularly on Amazon.
With our Dropship Amazon Plan, you will have several options to help you control your prices with global markups. The best markup option that we recommend is a Tiered Percentage Markup. This will allow you to set different markup percentages base on price tiers of your choice. As you know a 10% markup is much different when applied to a product with a wholesale price of $10 as opposed to when its applied to a product with a wholesale price of $1000, therefore it is important for you to have the ability to set low markups on high priced items, and higher markups on low priced items.
Here is a typical example:
$0 - $10 = 120% markup
$10.01 - $30 = 90% markup
$30.01 - $50 = 51% markup
$50.01 - $60 = 45.5% markup
$60.01 - $70 = 44% markup
$70.01 - $80 = 43% markup
$80.01 - $90 = 41% markup
$90.01 - $100 = 40% markup
$100.01 - $99999 = 35% markup
Of course this is just an example, and you can choose your own price ranges for each tier, and you can choose your own percentages as well.
With the Amazon plan you can set the markups per supplier as well. This means that you can set different tiers and different markup percentages per supplier as well.
To set those markups you should login to your wholesale2b.com account and click on the top green button AMAZON PLAN, and click on the price markup link located at the top of your Amazon list.
By default the prices used as selling prices will be the MSRP prices which are usually high, therefore it is important for you to complete the STEP #4 - SET PRICES to lower your prices using the global markup options.