Now that you know the difference between Listing Price & Retail Price, here's a little guide to help you with pricing strategies.
It is easy to import products with the suggested retail price and then edit the final sell price to maximize your margins.
Start with the downloadable Excel sheet below for your top products to help arrive at the ideal selling price that covers all your costs AND gives you the desired profit.
Step 1: Enter all available information from the Spocket listing:
Listing Price = Cost Price
Shipping (you can add International to keep a higher margin)
Retail Price = Suggested Sell Price
Step 2: The Suggested Margin gets calculated in the sheet for you based on the Suggested Sell Price you have imported from the Spocket Listing
Step 3: Research competitors to see pricing for similar products. Based on the above, you can enter the ideal margin (Profit) you would like to make on the product in the 'My Margin' column. This will calculate the ideal sell price for you in the 'My Sell Price' column.
We have also included the formulas in a separate sheet for you to reference and start making more profits!