Welcome To Episode #132 of the Amazon FBA Private Label Show Podcast! In this episode we share simple and actionable Amazon pricing strategies that you can implement today to make more money!  Listen to this Amazon FBA Podcast! [powerpress] Pricing Strategies Every Amazon Seller Should be Using Right Now w/Paulina Masson Are you using the correct Amazon pricing strategies to maximize sales and profit? I have found that most sellers tend to guess how to price their products. If you are guessing and don't have a strategy then you could be leaving a lot of money on the table. Sometimes small tweaks can have dramatic effects on how shoppers view your products which could lead to increased sales and profit.  On this episode I am joined by Paulina Masson of Shopkeeper.com where she breaks down some effective Amazon pricing strategies that every seller needs to be using. Paulina is an Amazon seller herself and has lots of knowledge around the psychology of pricing and how it effects buying behaviors.  EPISODE BREAKDOWN   Have A Clear Plan Before you even have your product made you should determine what type of buyer you are going to price and market your product to. You should have already evaluated the current market on Amazon to determine your potential pricing strategy. As an example if you notice that there are no "luxury" offers available on the market for a product then you could fill that void by creating a higher quality product in which you can charge higher prices.  You also should be studying the historical pricing of all the top competitors to get a feel for what the other sellers have been charging. You can use a tool like Jungle Scout to see this information.  Determine Your Buyer There are essentially 3 different main buckets of customers on Amazon. You have budget shoppers, value shoppers and luxury seekers. You should be evaluating the current marketplace to see where your competition fits in. If everyone is competing on having the lowest price then you may have opportunities to raise your prices to appeal to value or luxury shoppers.   Budget Shoppers - they are mainly looking for the lowest priced products and aren't to concerned with quality.  Value Shoppers - They are seeking a mix of value and quality. They won't just seek to find the cheapest option available.  Luxury Shoppers - They want a premium product with all the "bells and whistles" and they will be willing to spend a lot to get it.  Price Endings Matter Most products you see in retail end with the price of $0.99. We know that buying something for $12.99 looks like a much better deal than charging $13.00. Even though it's only a $0.01 difference. While using a price ending is ok you may want to consider using other odd number endings such as $0.97 or $0.95. Those price endings will get the customers attention as they are quickly scanning the sales page. Try to avoid even endings such as $0.92 or $0.94. Also if you are a selling luxury item then consider using a $0.00 ending. So instead of charging $34.99 simply charge $35.00. As with anything you should split test these price endings to determine which gets the most clicks and conversions.  Use odd price endings such as .99, .97, .95 Avoid even price endings such as .92, .94 Use .00 endings for luxury items  Split test to determine what sells the best for your items Amazon Coupons To drive clicks and more sales consider running coupons on your listings. The green banner will stand out as customers are scanning Amazon and it will catch their attention. A lot of sellers are not using coupons currently so you can really stand out. You can then experiment with using "percentage off" or "dollar off" coupons. Make sure to keep your coupons simple and easy for the customer to calculate. If you make the customer think too much they will get confused and move on to the next product.    What About Bundling? Once you have been selling a product for a while you should look at your sales reports to determine if