@GaneaDaniel
Good morning Daniel,
Great question I might add. This has been in the back of my mind ever since I purchased the plugin and started building my store.
I guess setting your prices depends on a few things like:
1) The level of service your customers expect to receive
2) Your customer's persona (who are you selling to)
3) The products that you are selling
4) Your competition
5) Your expenses
6) Your shipping options
7) Your original investment
8) The amounts of chargebacks and returns you're getting
9) What your time is worth and what you expect to receive as net profit at the end of the month compared to your sales
10) Your income tax bracket
11) Compensating for sales fraud
12) Legal costs from lawsuits
13) Cost of inventory management (in some cases)
14) Accountant cost for sales tax advice
etc
So in my opinion there is no straight answer to your question.
Since you've posted your markups I will post mine also so you can compare.
I'm selling merchandise that cater to Beauty & Fashion and I'm trying to be as fair as possible with my price schedule
# Supplier's Cost Your Price Action
1 $0.1 < cost < $0.99 cost * 4
2 $1 < cost < $1.99 cost * 3.98
3 $2 < cost < $2.99 cost * 3.96
4 $3 < cost < $3.99 cost * 3.94
5 $4 < cost < $4.99 cost * 3.92
6 $5 < cost < $5.99 cost * 3.90
7 $6 < cost < $6.99 cost * 3.88
8 $7 < cost < $7.99 cost * 3.86
9 $8 < cost < $8.99 cost * 3.84
10 $9 < cost < $9.99 cost * 3.82
11 $10 < cost < $10.99 cost * 3.80
12 $11 < cost < $11.99 cost * 3.78
13 $12 < cost < $12.99 cost * 3.76
14 $13 < cost < $13.99 cost * 3.74
15 $14 < cost < $14.99 cost * 3.72
16 $15 < cost < $15.99 cost * 3.70
17 $16 < cost < $16.99 cost * 3.68
18 $17 < cost < $17.99 cost * 3.66
19 $18 < cost < $18.99 cost * 3.64
20 $19 < cost < $19.99 cost * 3.62
21 $20 < cost < $20.99 cost * 3.60
22 $21 < cost < $21.99 cost * 3.58
23 $22 < cost < $22.99 cost * 3.56
24 $23 < cost < $23.99 cost * 3.54
25 $24 < cost < $24.99 cost * 3.52
26 $25 < cost < $25.99 cost * 3.50
27 $26 < cost < $26.99 cost * 3.48
28 $27 < cost < $27.99 cost * 3.46
29 $28 < cost < $28.99 cost * 3.44
30 $29 < cost < $29.99 cost * 3.42
31 $30 < cost < $30.99 cost * 3.40
32 $31 < cost < $31.99 cost * 3.38
33 $32 < cost < $32.99 cost * 3.36
34 $33 < cost < $33.99 cost * 3.34
35 $34 < cost < $34.99 cost * 3.32
36 $35 < cost < $35.99 cost * 3.30
37 $36 < cost < $36.99 cost * 3.28
38 $37 < cost < $37.99 cost * 3.26
39 $38 < cost < $38.99 cost * 3.24
40 $39 < cost < $39.99 cost * 3.22
41 $40 < cost < $40.99 cost * 3.20
42 $41 < cost < $41.99 cost * 3.18
43 $42 < cost < $42.99 cost * 3.16
44 $43 < cost < $43.99 cost * 3.14
45 $44 < cost < $44.99 cost * 3.12
46 $45 < cost < $45.99 cost * 3.10
47 $46 < cost < $46.99 cost * 3.08
48 $47 < cost < $47.99 cost * 3.06
49 $48 < cost < $48.99 cost * 3.04
50 $49 < cost < $49.99 cost * 3.02
51 $50 < cost < $50.99 cost * 3.00
52 $51 < cost < $51.99 cost * 2.98
53 $52 < cost < $52.99 cost * 2.96
54 $53 < cost < $53.99 cost * 2.94
55 $54 < cost < $54.99 cost * 2.92
56 $55 < cost < $55.99 cost * 2.90
57 $56 < cost < $56.99 cost * 2.88
58 $57 < cost < $57.99 cost * 2.86
59 $58 < cost < $58.99 cost * 2.84
60 $59 < cost < $59.99 cost * 2.82
61 $60 < cost < $60.99 cost * 2.80
62 $61 < cost < $61.99 cost * 2.78
63 $62 < cost < $62.99 cost * 2.76
64 $63 < cost < $63.99 cost * 2.74
65 $64 < cost < $64.99 cost * 2.72
66 $65 < cost < $65.99 cost * 2.70
67 $66 < cost < $66.99 cost * 2.68
68 $67 < cost < $67.99 cost * 2.66
69 $68 < cost < $68.99 cost * 2.64
70 $69 < cost < $69.99 cost * 2.62
71 $70 < cost < $70.99 cost * 2.60
72 $71 < cost < $71.99 cost * 2.58
73 $72 < cost < $72.99 cost * 2.56
74 $73 < cost < $73.99 cost * 2.54
75 $74 < cost < $74.99 cost * 2.52
76 $75 < cost < $75.99 cost * 2.50
77 $76 < cost < $76.99 cost * 2.48
78 $77 < cost < $77.99 cost * 2.46
79 $78 < cost < $78.99 cost * 2.44
80 $79 < cost < $79.99 cost * 2.42
81 $80 < cost < $80.99 cost * 2.40
82 $81 < cost < $81.99 cost * 2.38
83 $82 < cost < $82.99 cost * 2.36
84 $83 < cost < $83.99 cost * 2.34
85 $84 < cost < $84.99 cost * 2.32
86 $85 < cost < $85.99 cost * 2.30
87 $86 < cost < $86.99 cost * 2.28
88 $87 < cost < $87.99 cost * 2.26
89 $88 < cost < $88.99 cost * 2.24
90 $89 < cost < $89.99 cost * 2.22
91 $90 < cost < $90.99 cost * 2.20
92 $91 < cost < $91.99 cost * 2.18
93 $92 < cost < $92.99 cost * 2.16
94 $93 < cost < $93.99 cost * 2.14
95 $94 < cost < $94.99 cost * 2.12
96 $95 < cost < $95.99 cost * 2.10
97 $96 < cost < $96.99 cost * 2.08
98 $97 < cost < $97.99 cost * 2.06
99 $98 < cost < $98.99 cost * 2.04
100 $99 < cost < $99.99 cost * 2.02
101 $100 < cost < $1000 cost * 2.00
I hope this helps. Please feel free to copy it and use it if you believe it might help.
Your feedback would be very much appreciated.
Best regards,
Anastasios (Tom)
