I’m a newbie to dropshipping. While searching for products to sell, I noticed that some of the items from my vendor had very high shipping costs. My store has two set shipping prices, neither of which even come close to what they are showing.
My question is, how do I calculate an item price, and make a profit? My store was pre-loaded with products and already priced. But the prices were grossly inflated. So I want to change them.
Any help would be greatly appreciated.
Thanks,
Lori78
Hi @Lori78 ,
First off, regarding shipping concerns, build a good relationship with your suppliers and contact them before ordering, you might be able to negotiate better shipping rates. Offering free shipping can also attract more customers. You can slightly increase your selling prices to cover the shipping costs and present it as free shipping to your customers. It’s important to monitor these strategies and adjust them as needed.
By the way, may I know if you’re selling low, medium, or high-ticket products? Based on this, you can set up the most effective dropshipping pricing strategies. This article provides a few helpful formulas to follow: https://help.zopi.io/aliexpress-pricing-a-comprehensive-guide-for-profitable-dropshipping.html
Hope this helps with your concern 