She Doubled Her Prices and Made More Sales (True Story)

Hi Vlad, True story: Once there was a girl who ran a jewelry shop. Her store wasn't online; it was your standard bricks-and-mortar store. Anyway, she had a supply of earrings that just couldn't sell. She tried all sorts of offers: 5% off... 10% off... 30% off... Buy one get one free... None of her promotions worked. In the end she decided, "Hey, you know what? I'm just going to cut my losses and try selling something else." Before leaving work that day she left a note for her assistant to mark down the price by half. But somehow the assistant got it wrong: instead of cutting the price in half, she doubled it! The next day something extraordinary happened. Those earrings began selling like hotcakes. So what is the lesson? To double the price and then sell more stuff? Well, not exactly. The point here is to highlight one of the most hard-wired of human beliefs that higher price = higher quality = more desirable. When something is cheap or free, we automatically give it a lower value. After all, if it's so good then why is it so cheap? But what does this to do with anything? Well, if you're like me and many of our other SaleHoo members, you probably don't quite realize the immense value of the information you have available to you right now, because it's all free. At this very moment you have access to page after page of solid gold, figuratively speaking: advice, information and insight all right there for you to use to your own advantage. Let me give you a quick example: In SaleHoo's Seller Training Center alone, you'll find 50 well researched and carefully written articles. Together they cover almost every aspect of starting your own e-commerce business. Topics include (but are not limited to): How to avoid and/or catch crooked suppliers How to deal with suppliers (especially Chinese ones) who don't accept safe payment options The best product types to consider importing from China How to deal with "non-responders" and outright fraudulent eBay buyers (they're out there!) How to import to the USA, UK, Australia and Canada How to find hot markets What to do when competition on eBay is too cutthroat How to find niche items that no one else is supplying Plus a whole lot more. Go ahead and take a browse through all the free resources here. It's a gold mine. P.S., I'm not going to double the price of a SaleHoo membership to entice you. Instead, I'm going to do something outrageous: In tomorrow's email I'll give you the opportunity to join this growing community for just $1. Stay tuned. Kind regards, Marc Ransom Community Manager