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How to Price Your Products For More Profits

Setting the right price for your products for online stores is always a challenge. If you have set the high rates, you will be going to lose lucrative income. If you set them too small, you’re going to lose significant income. A pricing technique is a concept or approach used to determine the optimal price for a good or service.

It lets you pick rates to optimize income and investor interest by taking into consideration customer and industry demand. Shopifytop is the best tool which can be used for checking the competitor’s price. It also helps you with the Alexa rank of each website.

Pricing structure considers all of the industry variables, such as sales goals, strategic priorities, target audiences, brand placement, and brand identification. They are often driven by external factors such as customer demand, dynamic competition, and general business and economic patterns.

The following points will help you set the best price for your products for online stores.

Know the Market 

If you’re offering traditional items like cosmetics or digital items like apps, you need to understand the preferences of your users to determine costs. The only approach to make the customer happy is to put on the undercover cap to do a browse.

Check the costs of your competitors and note the variety of products you see. Which are the most competitive rates and best offers? It’s rare that you’ll choose to put the rates higher than the average price point. Shopifytop is the best tool for checking the websites of your competitors.

Ensure price elasticity 

Consider the principle of elasticity to learn how increasing prices could impact your actual total sales. If product demand is flexible, it ensures that users may stop purchasing it or turn to rival companies if you increase your cost too much.

You may increase the price of an inelastic item, like tobacco or salt, and still, consumers will want to purchase it. Luxury items are often flexible things, although basic needs are mostly inelastic. When you are marketing a premium or exclusive product, be sure to increase costs and track the prices of your peers.

Consider cost-plus pricing 

Include the mark-up or a gap to the break-even stage. Generally, that is represented as a proportion of break-even. Industry standards, expertise or business awareness, can help you determine the basis of the mark-up.

If the price is too high, decrease the expenses and bring down prices appropriately. Be informed of the cost-plus price drawbacks, since this operates under the premise that all units can be delivered. When you don’t, the income will be lower.

High-low pricing technique 

High-low rates are widely utilized for merchants that markets seasonal or continuously evolving goods, such as clothes, decoration and furniture.

A high/low price approach is always attractive to the consumers, as they love promotions and deals, which is why Black Friday and other common discount days are so popular.

Conclusion 

There is rarely a black-and-white approach to determining a pricing policy. Not all price plans will succeed on any kind of retail market — each company will have to do the required research for finding what fits better on its brands to target customers.

There are some websites in the market which can help you set the best price for your products. Shopifytop helps you to know more about your competitors. You can check their websites through Shopifytop and set the best price for each product of your online store.

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Is it worth starting a Shopify store in 2020?

Many of you reading this are wondering if it’s worth starting a Shopify store in 2020? What a crazy year this has been. Everywhere you look, it seems something is happening that’s never happened before. You might be wondering if anyone is still shopping online. Well, the answer to that question is far more apparent than what you may realize. Yes, people are still shopping online. The fact is, more people are shopping online in 2020 than during any other year. It’s true, and that’s means you have a fantastic opportunity to make money with your Shopify store.

How can you be sure people are still buying through Shopify stores?

You can visit ShopifyTop, click on the different categories, and check out individual items and stores. There you will see how well a store is doing. A key factor in a store’s growth is its Alexa ranking. If you see a store that has a high Alexa ranking, then you know the site is making plenty of money. The smaller the Alexa ranking is, the more traffic it receives from a variety of sources.

The mistake many people make is they do too much time searching social media

For whatever reason, new marketers think that social media is a good bellwether for if a product is selling on Shopify. It isn’t. What you will see on social media is a flood of cheap products and a high markup. You also have to understand that just because you see something on social media, doesn’t mean it’s selling. The vast majority of online marketers are people who fail, and it should come as no surprise that many of the online stores you see advertised on Facebook or wherever don’t make a profit.

The key to success is being able to tap into an existing market

You’re not trying to reinvent the wheel; you are only trying to make some money. You must be able to see if a product is selling and how well the store is doing. If a store is prosperous, and the product is flying off the shelves, you’ve got yourself a winner. Anything beyond that and you’re not going to have the type of success you’re after. Why settle for failure when you can quickly and easily see what’s working? Anyone who marketers products based on gut feelings is an idiot. A lack of data keeps people from succeeding, and that’s something you must realize when you’re gathering information about the products for your Shopify store.

Online is where the action is when it comes to sales

The pandemic has changed our lives forever, and there’s no doubt about that. However, we still need to buy things. 2020 and beyond offers excellent opportunities for those who want to make their living in eCommerce. People don’t want to go to the store right now, and that’s not going to change any time soon. Your Shopify store will attract customers, and you’ll see much-needed products to those who need them the most. If you’re in doubt about the strength of shopping online, don’t be, because many of the world’s wealthiest people are in the eCommerce space.

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What Makes a Great Shopify Store?

Are you going to create your first online shop or offering your store a fresh look? Up to 80% of the internet users purchase the products and goods from available online services, which implies that getting your own Shopify store is a really smart idea!

But you may need some support and assistance to increase revenue and expand your Shopify store by 2020. Shopifytop is an online platform that helps you by providing the lists of Shopify stores. From Shopifytop, you can also get the Alexa rank of each store to find that store’s popularity.

If you are a newbie in e-commerce and want to earn more revenue from your Shopify store, Shopifytop is a perfect platform. This article focuses on some main points that will help you make a great Shopify store in 20202. Keep scrolling to read more.

  1. Engaging Web Design

You need the best products and services available in your niche for a better Shopify store, but an engaging web design plays a significant role in the online world. Do not overlook the significance of visual appearance.

You can get the pre-built template according to your niche and customers and customize it based on your requirements. Many websites offer great eCommerce templates with amazing layouts and clear design according to the latest web trends.

You can check the Rebook’s online store to get a better idea about engaging web design with great visual appearance.

  • Payment gateway

The main objective of an online shop is that customers have to interact with it. It is advantageous to provide a wide range of payment alternatives so that your customers can easily access your website.

This would also improve your customers’ experience. Aside from using PayPal as a payment method, you will have credit card payment choices, prepaid cards, and cash on arrival.

Don’t hesitate to have an SSL certificate on your site. To boost revenue and transactions, you should even connect up with mobile payment applications and e-wallet services to ensure that the consumers completed the purchase.

  • Amazing customer support

A specific product and attractive web design may help you increase sales, but if you want to make your online service effective, you have to deliver extraordinary customer service.

In addition, your customers have to be fully convinced that you will support them after they buy a product. Top-quality customer perception helps a lot towards brand building and turning buyers into loyal customers.

Give consumer service at all levels of the buying process to inspire online buyers to make online purchases.  

  • SEO friendly store

For creating an online store that can boost purchases and enable conversions, you will need the users to be able to locate your website through search engines. But how are you going to generate organic traffic?

You will have to make your site highly optimize. Most eCommerce big businesses do not give great attention to SEO on the justification that it is a critical measure or a funding-centric action.

Nevertheless, SEO is the most effective tool in the marketing strategy armies. The website can score better in search results if you use SEO-friendly content on the website.

Conclusion 

These are some of the factors which can help you make a great Shopify store. There are several tools and platforms available which can be used to create the best Shopify stores.

Shopifytop is one such platform that will share the Alexa results of each Shopify store to check their popularity.

Let us know if you are using different strategies for your Shopify store in the comment section. We love to hear from you.

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How to Create Your Own Shopify Store Within 1 hour?

There is no doubt that Shopify is a great eCommerce platform and become more and more popular. Are you ready to learn how to create your Shopify store? With Shopify, you can own your online store immediately whenever you came up with a wonderful product idea. Because you are no longer have to be an experienced web developer to build a website for online business, Shopify will give you all the features you might ever need.

There are 6 steps to set up a Shopify store:

  • Create a Shopify account.

Visit shopify.com and follow the instructions to start the 14 days’ free trial, which doesn’t need bound with your credit card. Enter the required details and click the “Create your store now” button. From there, you will enter your business email and create a password. This is also the step where you will create your store name.

Remember to back up the details you entered, in case Shopify needs to verify your information sometimes.

  • Start to be familiar with your Shopify dashboard

On your Shopify dashboard, you’ll see a handy step-by-step outline on how to set up your shop. The first button encourages you to add a product, so go ahead and click on that and from there you’ll be instructed on what to do next. Once everything is filled out, always remember to click the “Save Product” button in the top and bottom right corners. You can check here to choose products successfully.

  • Customize your online store

There are plenty of themes that can be chosen on Shopify. The current theme will be default as “Debut” if you just create your store. But you can revise it to other themes by clicking the “online store”, and then “Themes” which include two parts: “Current themes” and “Theme library”. In the part of “Current themes”, you can hit the button that says “Customize the Look of Your Site” and from there you can modify the look of your Shopify store to reflect your brand. And In the part of “Theme library”, you can visit and download free themes from the Theme Store.

  • Sort your domain

Select a domain name by following the steps to either transfer one you already own or buy a new one. Once you have a domain name up and running you can make your Shopify store go live.

  • Select and activate your payment processor

Select the “payments” tab and choose your preferred payment processor. Before you start setting it, it’s important to know the rules and charges of each payment method. And here are a few things to consider when trying to figure out which one is best for you.

VISA and Master-card are all acceptable, and Paypal is also becoming more popular for online business. But when you make a payment, Shopify keeps a small percentage or flat fee for letting you use their service. However, If you choose to use Shopify payments and pay no transaction fee, there will be additional fees of 2%, 1%, or 0.5% for the Basic Shopify, Shopify, and Advanced Shopify plans, respectively.

  • Test the ordering process

It’s necessary to test the ordering process after you’ve set everything up. Shopify also provides a service for testing. You can go to Settings, Payment providers, Third-party payment providers, then find the Bogus Gateway (for testing) and test with the notice.

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How to Boost Sales on Shopify?

Shopify is used by hundreds of thousands of companies to market their goods online, so it has never been easy for new e-commerce companies to establish up an online shop. 

There have been over 12 million online services currently in operation in 2020, and this number is expected to rise much bigger!

Shopifytop is a platform that can help you by providing the list of Shopify stores. For the popularity of each store, Shopifytop also shares its Alexa rank, which is helpful for newbies in this filed. The ease of opening up a new shop is perfect for beginners, but it also implies growing rivalry for everybody else. Figuring out how to attract more customers is something that any e-commerce company will be focusing on.

In this article, we have discussed the ways to increase traffic and sales on your Shopify store. Keep scrolling to catch more.

  1. No one resists amazing discounts

We all know that people love discounts which show the popularity of Black Friday Cyber Monday. Your customers are always looking for great offers, amazing deals, and significant discounts, and it is also considered the best strategy to attract the audience.  

Offer the customers something irresistible. Offering discounts can also lower your average order value, which is essential in online stores, offering product bundle offer and free shipping over a specific amount.

  • Get traffic through content marketing. 

SEO, optimized content will help you get a lot of traffic to your Shopify store. We suggest you write a simple paragraph at the end of each page and avoid writing too in-depth writing.

You need to target the specific keywords and phrases which are essential for the section of each page. Several tools can help you find the targeted keywords and key phrase with high search volume.

  • Use Facebook for the recreation of your Shopify Store.

Your products can have a massive social follow-up, so much of the purchases are from social media networks. Shopify helps you to rebuild your online store on your Facebook profile using the “Store” link. The buying cycle is getting easier because buyers purchase directly from you. You don’t have to redirect the customer to the page.

The API allows your Facebook store to seamlessly synchronize purchases and stock with your Shopify profile. It allows you to handle anything from a single platform.

  • Start making the customers’ profiles.

It benefits the company a lot when you encourage the clients to build an account before placing the order. You can monitor who purchased how much from your shop and pick the appropriate buyers. As you monitor and keep records of customer data and shopping habits, you can send them focused marketing emails.

The customers can create the account before placing the order, or they will also have the ability to make an account during the checkout process.

  • Off-page and On-page SEO

It is challenging for a business to survive without organic search traffic. You should have a highly optimized website with an SEO specialist for the optimization of your website.

For the On-Page SEO, product description, Meta titles, URL structure, and mobile SEO are the important factors. For the Off-page SEO, you will have to use several other online platforms.

Conclusion 

You will have to make several techniques and strategies to increase the sales of the Shopify store. There are several websites and apps available, which can help you with starting a new online store. Shopifytop is one of the best platforms available for getting the rank list of each store.

The Alexa Rank of each store shows each store’s popularity, and newbies can get better ideas with this feature. Shopifytop provides you with the Alexa Rank so you can increase the sales on your online store.

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How to Start Dropshipping?

The coronavirus (COVID-19) pandemic touches each of us in different ways. As we all struggle to cope with its effects, it’s also a time where we can start our online business. I have learned how to increase traffic since I build my own website two years ago and hope it would be helpful for you.

  • Which platform shall we choose?

The key point is we should choose the one which is cheap and user-friendly. Then Shopify will be a good choice. It’s very easy to start your store on Shopify. With Shopify, you are using a cloud-based SaaS solution where Shopify provides the hosting for your store, which means there is no messy setup work is required.

  • How to Test our products by Facebook Ads?

Firstly, try to test more items and find a popular one. Only by testing broadly, can you know which item might the best selling one. And then you can focus on one item and keep finding its popular products after analyzing the data from tests.

For example, I found the results of the item “minidress” is the best among the other items I tested. Then I will keep testing all kinds of “minidress” and then know “Coloured minidress” sell best. So now I have my idea products.

Generally, I will set three Ad sets in one CBO, and test one item for each Ad set with 10 dollars. Some people may wonder how much will it cost for testing successfully. However, there is no accurate standard. Only by keep testing and trusting the data you got. Most of the top products are changeable, which requires us to keep testing new products so as to remain its higher sales.

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How to Choose The Best Products to Sell on Shopify?

With over one million stores now using Shopify, e-commerce is officially the most effective and democratic way of getting your product on the market. So how to choose the best products to sell on Shopify? There are three important points before we start it.

1. Choosing potential products and also it should be suitable for yourself;

2. Try to learn more marketing and promoting skills;

3. Be eager to succeed!

OK! So firstly, I will specify how to choose potential products.

  • AliExpress / Amazon / eBay

Check the specific product on those platforms. If its order has over 1k, then it could be the potential product. After that, check it on Google Trends to see if the trend is up or down.

  • Google Trends

You can check according to the location or period of time. If the trend of the product is up, then you can add it to your list.

  • ShopifyTop

Shopifytop can provide the rank list for the stores of your idea products, and then you can check how your competitors set their stores. It’s very easy to get a lot of useful information on it. Just search “ShopifyTop” by Google and then input any keywords or areas on this website.

  • Instant Product Evaluator Tool

This tool can help you evaluate your products. There are a few questions, which may need you to do some research before answering them. So you can also have a better known about your products. They will email you the test results after you finished the answer.

 If you have chosen a very popular product, I suggest you’d better check it on Facebook. Since it might be hard to promote gain once there already have been a lot of posts or videos about your products on Facebook.

Many people may confuse why should we choose those products with high sales? Actually it’s quite easy to figure it out. It’s just the same as we buy things on the website, we would prefer to buy those popular products rather than those that might be popular in the future.

Wish you can find more suitable products for your stores!

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First blog

This is first blog post.

More than 1,000,000 merchants use Shopify to run their businesses. They come in all sizes, from all around the world, and each one is different. Shopify solves many of their hardest commerce problems out of the box—but every business has unique needs.

Shopify’s mission is to make commerce better for everyone. But Shopify can’t be all things to all people. Instead, we empower third-party developers, known as Shopify Partners, to create apps, themes, and other integrations that build on Shopify’s platform. That way, merchants can tailor their experience however they need, and developers can build their own businesses supporting those entrepreneurs. This virtuous circle creates new business opportunities and benefits merchants, partners, and Shopify.

Developers have extensive access to Shopify’s core features. Here are some of the resources you can work with:

  • Use the Admin API to embed new features in the Shopify admin or POS, and access data on inventory, orders, products, billing and more
  • Use the Storefront API, our headless commerce solution, to add Shopify buying experiences to any website, app, or video game
  • Use the Liquid markup language to customize the look and feel of merchants’ online stores
  • Use Shopify’s suite of development tools to accelerate your productivity
  • Use our open-source design system, Polaris, to create seamless integrations with Shopify admin