Merchants will use their field experiences to select products in their niche and decide appropriate retail prices. We recommend a default 30% markup on all products.
Our team of marketing professionals can also provide a range of product research supports, at no cost to merchants, that provides insights into two questions that many merchants have:
- I’ve selected some products in Woosource catalog, how can I decide on a good retail price for my online store?
- How do I keep finding new or trending products for my store?
For the first question, we can run researches on selected products and provide insights on questions such as:
- Are these products for sale on Amazon and eBay?
- What are the prevailing retail prices for each product?
- What are the demand and competition levels?
As seen in the sample research results below, with the product titles provided by suppliers, we found several products that are being sold on Amazon and eBay, and retrieved a variety of data for each product.
*Demand level (high, medium, low) is determined by product interest from search results and actual product sales from across several marketplaces.
For the second question, we can monitor particular niches for best-selling products, new releases, and most wished-for products on Amazon, and retrieve relevant data for reference by merchants. As an example, the spreadsheet below shows partial list of best-selling office products, ranked by the product’s “best seller rank” (BSR).
If the merchant is interested in particular products, he/she can first check to see if the same or similar products are available in the Woosource catalog; if the product is not available in our catalog, we can work to locate a supplier that has the product and can do dropshipping.