One Stop Shop

1. Double your prices. As long as you don’t lose more than 50% of sales, you’re coming out ahead, mathematically. Imagine, you get higher gross margin since you’re selling for a higher price. Also, you’re selling enough products that doubling their prices increases your revenue without necessarily increasing the volume, too. Not yet convinced why you should do this? Customers usually associate higher price = more value for their money. Just check out how Apple prices their products: according to a recent study, it costs Apple $247.51 to create an iPhone, yet they sell it for over $1,000. Higher revenue and less volume of transactions translates to less overhead expenses. You get to enjoy the benefits of increased profit with decreased costs - how sweet is this? Doing this enables you to get that extra 1% or 5% that’ll help you increase your bottom line profit. 2. Increase your prices by 10% Compare your conversion and profit every time you change your pricing. For example, increasing your prices by 10% this F