EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com

Wed Apr 8 2020 15:12:44

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

By: Ina Steiner

Very few sellers raised their prices on average in response to the COVID-19 pandemic, and almost one-quarter lowered their prices, according to a survey of EcommerceBytes readers that ran from March 29 - April 2, 2020.

We asked online sellers, "On average, how have you changed your pricing?" and they responded as follows:

Raised 5%
Lowered: 24%
No Change: 71%

One seller explained they had raised prices in relation to the increased procurement costs they were experiencing because some of their main suppliers were not open and alternative suppliers were more expensive. But they made it clear they were not increasing their margins in such cases.

Others said they were being careful about raising prices due to the risks of being targeted as a price gouger, as one seller said, "by either a customer or an Amazon bot."

Numerous sellers said they were running sales and promotions, and also adding features that allowed buyers to make offers.

"Desperate to create interest somehow," wrote one seller.

Some sellers said they were unable to adjust their prices because of MAP restrictions (minimum advertised price).

Additional Survey Results
EcommerceBytes also asked sellers how the COVID-19 outbreak impacted their online sales, which you can read about in this April 5th EcommerceBytes Blog post.

And we asked how satisfied sellers were with how marketplaces such as eBay, Amazon, and Etsy were handling seller issues during the COVID-19 pandemic, which you can read about in this April 7th EcommerceBytes Blog post.

The survey also included questions about whether readers had changed their selling practices and their 6-month outlook - stay tuned for more survey results to come.

Comments (6) | Leave Comment | Permalink

Readers Comments

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

by: FeelingFroggy

Wed Apr 8 15:52:21 2020

We not only raised our prices by 10 per cent we also dumped free shipping period. Our sales haven't gone down but what has gone down is our shipping costs. Seems between the hours of 5pm and 2am 99 percent of our sales are made TO THE WEST COAST. We are in the East. Try shipping a 10.00 - 10 ounce item to the west coast with shipping for less than 5.00. Most of the time its not going to happen. So we just went through all our auctions and redid the shipping as if we were shipping to the West Coast. Sorry East coast you lose. We are tired of footing the shipping. You want the item you will pay for shipping. Or you are free to shop elsewhere. We just don't care anymore.

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

by: ebayout

Wed Apr 8 16:54:54 2020

Sellers are lowering their prices...ebay is NOT.
What they do "give" is a bunch of ACCELERATED "free" listings that costs them ZIP.
They have no skin in the game. They could temporality waive the 10% fee on shipping, or lower the selling fee by 1%...but they won't.
Some "partner"...they WATCH our pain, they don't FEEL it.

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

by: Tiffee Jasso

Thu Apr 9 01:21:16 2020

I have not lowered my prices. I sell mostly collectibles, dishes, and jewelry. I buy them one at a time. In most cases I am unable to replace the item that sells. I have no intention of giving my items away. I can always attend a street fair in the summer and sell several hundred items in one day if that is what it is going to come to if sales completely tank. Also last week I commented on how I paid Ebay and not the seller because he was in managed payments. I noticed it took a day for the item to clear Paypal, and five days before the seller shipped the item. So it looks like fast shipping is going to slow down to a crawl. Generally my buyers have their item in hand within 4 to 5 days of purchase.

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

by: lancecorp

Thu Apr 9 04:36:48 2020

I have lowered prices substantially as my category is not an essential nor one that would be bought at this time. I have tried to introduce new product more apt to sell at this time - but it's hard to get noticed with the algorithms as they are now. I've cross posted to 3 new venues as sales on Ebay have dropped 47% on top of the 40% drop I've experienced this past year since the GTC and IS debacle.

Over 20 yrs as a seller here and it's upsetting to think I may be moving on because Ebay can not and will not support it's long time sellers.

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

by: Diogenes

Thu Apr 9 07:17:56 2020

I sell collectables and have not lowered my prices. Dont intend to. There are always those who profit from a downturn in the economy. During the financial crisis asset strippers and people in the debt industry prospered. Thats not immoral, its just business. This is a good time to go around hoovering up items that are reduced and flipping them. However I might have to hold onto them and wait six months to a year to get my desired price.

Survey: A Quarter of Sellers Lowered Prices amid Pandemic

by: purpleiris

Thu Apr 9 12:12:17 2020

I've been working to lower prices across my shop all year. I want to get rid of this inventory and be done with it. I'm about ready to put some things in lots just to make it happen sooner rather than later. LOL

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