One of the most re-occurring questions that we come across in our line of work:
“πππ ππ ππ‘ ππππππππ ππππ π° πππ πππππππ πππππππ πππππππππ ππ πππππ ππππ ππ ππππππ/ ππππ
πππ πππππ?”
A lot of factors can affect this:
βΊοΈCountry you are sourcing goods from (is it local, USA, UK, China, Turkey, SA, Zambia, Tanzania, Botswana, etc)
βΊοΈHow you are sourcing your goods (supplier, shop, runner, from someone’s under garments π, etc)?
βΊοΈMode of transport used (road, rail air, sea, kombi, etc)
βΊοΈ How these goods enter the country ( you can use imagination here π)
These are the main factors I have personally seen that can differentiate how goods are priced by each different seller.
“π«π πππ ππππ πππ ππ πππππππππ πππ ππππ
πππ ππππππ ππ ππππ ππππ
π?”
One of the biggest mistakes people make is trying to match prices of their competitors without actually knowing how much costs they have incurred on the products or services they offer.
ππ±ππ¦π©π₯π: You used a runner and you paid $150 for your goods.
βΊοΈDo you know how much each item costed? (buying price+ runner fees+ transport + airtime/data + the cost of movements you made to pay for the goods, to collect those goods, etc).
βΊοΈDo you know how to factor in each charge and allocate it accordingly to the right product to avoid undercharging or overcharging)?
βAlways make it a point to calculate each cost involved to the last cent before you price your goods.
βNever feel under pressure to reduce your prices or match them to someone else if you have no idea how much expenses you incurred.
In business you never move blindly you will short-change yourself, this can result in no profit or serious loses. Imagine your landing prices being $6 but then you try and match a competitor who is selling at $4 that’s a whole $2 loss. If it doesn’t make sense to you don’t compete you stick to your prices.
