How to get a good price

[MissBlueRoses]

What do you sell your grocerys for? How much over market price. I feel like I earn nothing but when I put the price up, the costumers complaint thats its too expensive.

[Moses]

The tutorial says if you go over double the market value, they'll complain. So I typically double the market price and remove 5-10 cents. I've only had one price complaint and it was when I accidentally priced an item at 175 dollars instead of 1.75 :)

[Necroscourge]

When the tutorial says "Don't charge more than double they mean it. I have never had a single customer complain about price and I have generally gone with 1.95% value for pricing rounded to the nearest quarter for sanity reasons.

Ergo a $10.69 item would be sold in my store for about $21. It might seem weird but from a business standpoint it actually makes a lot of sense, many items that we consider to be X amount are sold to the company you bought it from for a fraction of the cost. Being aggressive like this early on will help you expand quickly; and as I said as long as you never go more than double price you should not get complaints.

[Banri]

Double the price of an item. So example: if Skimmed Yoghurt is $3.96 Market Value, double it to $7.92 and then round down to the nearest dime. So $7.90.

[Illswyn]

But is double the price the best price? Will they buy less at a higher price? Will they buy more overall at a lower price? Hopefully it's not as simple in the end as just double the price.

[Druckform | INSOMNIAC 3D]

Originally posted by Illswyn:

But is double the price the best price? Will they buy less at a higher price? Will they buy more overall at a lower price? Hopefully it's not as simple in the end as just double the price.

it literally is.

double the price then remove 1 cent, and they will snap it up just as fast as if it was free

[ad4m]

i do (base price) X 2 - 5% = (answer)

[Tregon]

Originally posted by Piggy INSOMNIAC 3D:

Originally posted by Illswyn:

But is double the price the best price? Will they buy less at a higher price? Will they buy more overall at a lower price? Hopefully it's not as simple in the end as just double the price.

it literally is.

double the price then remove 1 cent, and they will snap it up just as fast as if it was free

Or just double the price. At exact double there seems to be zero complaints on price. There is no way to know what sales potential is, so there is no reason, beyond attempt to make counting change back, not to go for exact double.

I let employees handle cashier duties so counting change is not an issue.

[esschallert]

Originally posted by ad4m:

i do (base price) X 2 - 5% = (answer)

exactly this, or like double the price minus 10-20 cents