Recently eBay announced their new Easy Pricing feature and so far it doesn’t seem to have been well received by buyers.
We first reported eBay experimenting with sellers pricing back in March when it had been reported eBay had allowed buyers to make ‘Best Offers’ on a sellers listings.
It looks like Easy Pricing is the route they have decided to take on this as opposed to getting involved with Best Offers.
The new marketplace feature, which is optional until eBay says so, automatically lowers the Buy It Now price of an item by 5% every five days until it sells.
A user saw this message from eBay when they re-listed their items:
“Make sure your item gets sold. Starting 10 days after listing, we’ll lower the price (5% every 5 days) until your item sells or gets to $5.39. We’ll notify buyers who showed interest each time the price drops. Turn it off anytime by going to your listing.”
eBay’s Easy Pricing in Real Life
Whilst most items that an eCommerce business will list will be sold sooner than 10 days, it isn’t unheard of to have those problem SKU’s which just don’t get the traction right away.
It is these products which will now be flagged by eBay and the seller will be offered to ‘Turn on Easy Pricing’
Even if a seller can choose between “Turn on Easy Pricing” or “Maybe next time” many sellers still believe that Easy Pricing poses a big problem as it would prompt shoppers to wait until everything is dirt cheap before making a purchase.
This will potentially hurt their profits, especially if the price floor of eBay is much lower than the actual value of the item that they’re selling.
The positive side is for those who may have been watching your item, will get a notification letting them know the price has dropped which would of course see an increase in conversion from those customers close to hitting the buy button.
The majority of eBay sellers it seems are going to opt out of the Easy Pricing scheme, but others say increasing their Buy It Now price will help reduce the impact it may have on their business.
From my own point of view I would rather see a tool that would educate a seller to improve their listings, such as keyword suggestions or missing item specifics, rather than just cutting the price.
What are your thoughts on this? Is it a good move by eBay, or are they getting too involved when it comes to the price of your items? Let us know down below or in the Facebook Group.