how do you price your dropshipping products?

[PBNSurprise]

i'm looking for replies from advanced members only please. only people that are running profitable dropship stores.

how do you price your products? do you have a general rule like 3x mark up? or do you try to aim for a certain break even cost per purchase or ROAS? or do you just select the sales price based on your feeling of how high you can price it?

thanks

 

[uncutu]

minimum 3x markup

 

[IG Professor]

10-15% For break-even to cover fees + 20% profit.

 

[Monzani]

3x

 

[PBNSurprise]

minimum 3x markup

i've heard 2.5x markup is acceptable. 3x sounds good, what's your thoughts on 3-3.5x markup, or is it too much?

10-15% For break-even to cover fees + 20% profit.

can you explain this? how much mark up do you do?

 

[uncutu]

something you need to personally play around with
one day set to 3.5x+
or rotate 50% traffic to a landing page that has the item priced at 3.5x+
and compare that to the revenue accrued from the initial price point
decide from there....
experimentation is the name of the game

 

[PBNSurprise]

something you need to personally play around with
one day set to 3.5x+
or rotate 50% traffic to a landing page that has the item priced at 3.5x+
and compare that to the revenue accrued from the initial price point
decide from there....
experimentation is the name of the game

yeah i guess. really want an easy answer. but the only way to get an accurate answer is to test it. try with 3.5x mark up one day, and 2.5-3x mark up another day. then compare, whichever one has higher profit margins is the answer

are you pricing all of your products at least 3x? i guess that's a decent baseline. for really expensive products that could backfire though. anything that costs more than $20, it may be hard to justify over $60 sales price, depending on what it is