What is the recommended retail price?
A product’s RRP, also known as recommended retail price, is the amount known as the list price and is the price that the wholesaler recommends the retailer charge for a particular product to help standardize prices amongst different locations. An RRP may also be known as a listing price or as a suggested retail price (MSRP).
Amazon recommended retail price
The issue with list prices is that they are more often a marketing concept rather than what any sellers are charging. In the past couple of years, Amazon has started to phase out the appearance of recommended sale prices. Today, eCommerce sellers must price competitively while keeping in mind important product information like product performance, shipping, taxes, and more.
How to accurately price products?
To accurately and competitively priced products, it is strongly recommended that sellers use a product research tool to judge the product demand, selling price, product performance, and selling history throughout international markets. With this information, sellers can reasonably price items in a manner that can attract interested buyers.
Algopix combines valuable pricing insights into eBay, Amazon, and Walmart into one easy to use online platform. By covering 15 markets internationally, Algopix is the best solution for online sellers that sell in 3rd party marketplaces or who are considering expanding into new markets, which need to accurately and effectively price products.