Product pricing comes down to a 2 step process:
Step 1: Deciding a pricing range for your product
Step 2: Testing different price points on the pricing range to finalise a price point for your product

For Ecommerce businesses, it's important to consider both conversion rates as well as profit margins.

For this, start with considering all the costs of your business i.e. your expenses so you're not going below a minimum profit margin on your orders.

Next, consider the optimal price at which users would convert. This is done using pricepoint testing.

Learn more about the 2 steps in the video.

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