When you sell products online since your Shopify store, one of the most difficult battles to win is that ofadjust its prices according to its competitors.
Indeed, a price that is too low may leave your visitor suspicious, while a price that is too high will make them look elsewhere.
This is why having a real strategy on the choice of its prices is very important.
Identify your competitors
First, it is important to find your main competitors on the web. Tap on Google the main keywords that relate to your products and take the results from the first page. Indeed, few people will see beyond.
Adjust your prices according to your competitors
Now that you have found your main competitors, take a look at their prices and ask yourself questions. Are you in a good position? Are you too expensive?
If you sell the exact same product as a competitor who is better positioned than you level SEO, it is worth trying to be cheaper. This will bring in more visitors which will push you up in the search results. It is sometimes better to lose margin but make sales, than the other way around.
If your product is similar but you provide additional value, such as a better warranty, an additional accessory, etc. then a higher price is justified.
Either way, unless you have a brand new product, not basing yourself on competitor prices is a mistake.
Use an app to make it easier
If you only have one product, regularly looking at its competition is time consuming but doable.
Conversely, if you have dozens of products, it's a losing battle. This is why it is interesting to use an app of repricing.
A repricing application is a tool that will monitor your competitors and adapt your prices according to the rules you have defined.
FuzRepricer is a Shopify app intended to help you optimize your prices according to your competitors.
Indeed, it allows you to link your products to your competitors very easily. Whether it's on Amazon, Ebay, Backmarket or even Shopify.