Try This Two-Minute Hack to Increase Conversion & Sales on Amazon
There can be a lot of tricks on how to increase your conversion and sales on Amazon. But in this episode, Kevin shares his very simple Try This Two-Minute Hack to Increase Conversion & Sales on Amazon. Tune in!
Manufacturer Suggested Retail Price
The first thing you can do is set the manufacturer suggested retail price (MSRP). Kevin recently found that he wasn’t able to set the MSRP for half of his products.
“I know that I am not alone because I’ve asked [some other sellers] to go check. 8 out of 10 of them have products that have no MSRP set.” – Kevin Rizer on MSRP as a common dilemma among sellers
You too may have overlooked it. There are typically two places where you can set it, and it depends on which product category you are in.
Types of Pricing on Amazon
You can find different types of pricing on Amazon. MSRP is typically on top of the list. If you are selling a product for 20USD, you can set the MSRP to 40 or 50USD.
“Amazon gives you the ability to set several different types of pricing for your products and they display all of them.” – Kevin Rizer
Other than the MSRP, Amazon also allows you to set your own price. You can also set a sale price, that will trigger the sale icon to appear next to it.
Reasons for Setting the MSRP
You can set MSRP for lightning deals. It is what Amazon uses to calculate the price of your product.
“When you do a lightning deal, Amazon requires that your deal be a certain percentage off of the normal price.” – Kevin Rizer
You can also set the manufacturer suggested retail price higher than the normal price. Otherwise, Amazon will look at your price version and set it.
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