Discover the key importance of pricing in eCommerce, particularly when targeting specific buyer segments. Stay ahead of the competition by understanding how other sellers price similar products. With ZIK Analytics' specialized price analytics tab, you can determine the optimal pricing strategy for your products on eBay. Don't miss our tutorial video to guide you through the process!
Step 1: Start Your Product Research
The Price Analytics feature is part of the Product Research tool of ZIK Analytics. Once you search for a product using the Product Research tool, ZIK Analytics will gather all the relevant information, including price analytics.
Click on the Product Research icon from the left side bar menu.
Enter the product name in the search bar, and set filters to refine your search. Click the Search button, and ZIK Analytics will gather relevant information and display results.
Step 2: Head Over to the Price Analytics Tab
By default, ZIK Analytics will take you to the Product Research tab where you can see all the analytics related to your search including the Sell-through Rate, Sold Items, Sale Earnings, and more.
Click on the Price Analytics tab at the top to get the price analysis of your specified product. The Price Analytics tab will show you two valuable graphs which you can use to figure out the best prices for your products: Price Range Analytics and Price Sell-Through Analytics.
Price Range Analytics
The Price Range graph divides the prices based on the number of sales made. You can see how many sales were made in each price range, from the cheapest to the most expensive. The bar graph makes it easy to figure out the most popular price ranges, so you can price your product accordingly.
Hovering over a bar will show you the exact number of sales in the price range. You can adjust the time period of these sales (e.g. 30 days) in the filters when searching for the product.
The graph above shows that the price range with the most sales of 592 is in the range of $45.72- $91.43. Similarly, most of the sales took place in the $0.01 to $91.43 price range, making it the most popular pricing range.
Using this tool will give you an understanding of what price range you have to sell at to penetrate the niche and be more successful.
Price Sell-through Analytics
The Price Sell-through graph divides the prices based on the sell-through rates in those ranges. This gives you a clear idea of which price range has the highest chance to sell.
For example, in the graph below the biggest sell-through rate belongs to the $45.72 - $91.43 price range at 59.26% sell-through rate, meaning you are more likely to make a sale if you price your product in this range.
The sell-through rate is important as it tells us the likelihood of our listing being successful. A price range might have fewer sales but if it has a higher sell-through rate that means more listings in that range were successful, as you can see in the graph below.
Combining the data from these graphs can give you a decent idea of how to price your product.
If you have any additional questions, feel free to contact us in the chat.