This feature is highly advantageous to eBay trusted sellers with competitive prices to better highlight their listings, giving them more opportunities of closing sales and increased profits. That is why they have created a helpful free feature that enables sellers from the US, UK, Germany, and Australia sites to attract more buyers to their items by showing a symbol of competitive price, which will help them stand out.ĮBay shoppers can easily spot listings that offer the best price with the Great Price badge. With millions of online sellers flocking the marketplace, they want all users to have an equal chance at earning. What is a Great Price badge?ĮBay understands that listing competition on their platform is challenging.
That is why online marketplaces such as eBay have features like the Great Price badge. Listings with lower prices tend to sell faster than the same item with a higher price. This strategy also works well in the online world.
Sellers cut the price of their goods lower than the price of their competitors, giving the consumers the impression of getting more value for their money because they can get the item at a discounted or much lower price. The concept of this marketing scheme is simple. While items with charm prices such as those that end in 5 or 9 attract prospects, there are other ways to catch their attention and encourage them to check what you are selling, like using the competitive pricing strategy. The psychological aspect of marketing involves the buyer's emotions rather than their logical side. That is an excellent example of a marketing strategy to encourage shoppers to check out what they are selling, potentially turning into a conversion. Most likely, you have come across businesses with items that have 'Best Buy,' "Great Deal," or "Best Offer" tags hanging in them, and it has caught your attention. Hence, all sellers have their own way of attracting potential buyers to their stores.
Without these selling techniques, sales will surely decline and may lead to profit loss. It is not a secret that part of every business' success is marketing strategies that helps reel in customers.
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