Strikethrough pricing is a powerful strategy to highlight discounts and attract customers on Amazon. By displaying the original price, the list price, alongside a discounted price next to your Amazon product, you can effectively showcase savings and boost sales. This step by step guide explores the various methods to implement strikethrough pricing and the latest updates to Amazon's policies so you can boost your conversion rates for your Amazon FBA business.
Understanding Strikethrough Pricing
Strikethrough pricing involves displaying the original list price of a product with a line through it, next to the current discounted price. This visual cue helps customers perceive a better deal, encouraging quicker e-Commerce purchasing decisions.
Methods to Achieve Strikethrough Pricing
- List Price Strikethrough:
- How It Works: Set the "List Price" higher than your "Your Price" in the product listing.
- Amazon's Policy: As of January 31, 2024, Amazon requires that deals display a reference price to be eligible for publication. The reference price should reflect the price at which you have made substantial sales of the product. If the displayed deal discount is found to be misleading, your deal may be suppressed.
- Lowest Price in 30 Days Strikethrough:
- How It Works: Set your current price lower than the lowest price your product has been in the past 30 days.
- Amazon's Policy: This method is effective when you want to highlight a significant discount over a recent period.
- "Was" Strikethrough:
- How It Works: Set your current price lower than the median price of the past 90 days.
- Amazon's Policy: This approach allows you to offer a discount without necessarily being the lowest price in the recent past.
- Prime Exclusive Discounts:
- How It Works: Create a campaign offering discounts exclusively to Amazon Prime members.
- Amazon's Policy: To set up Prime Exclusive Discounts, navigate to "Advertising" in Seller Central and select "Prime Exclusive Discounts." Ensure your product meets the eligibility criteria, including being listed as new, eligible for Prime shipping, and having at least a 3.5-star rating.
Recent Updates to Amazon's Strikethrough Pricing Policies
- Reference Price Requirement: Effective January 31, 2024, Amazon mandates that deals display a reference price to be eligible for publication. The reference price should reflect the price at which you have made substantial sales of the product. If the displayed deal discount is found to be misleading, your deal may be suppressed.
- Price-Discounts Dashboard: Amazon has introduced a new Price-Discounts Dashboard, allowing sellers to create and manage strike-through prices on their products. This tool offers time-limited discounts for up to 30 days with inventory control and performance insights. Check out your Amazon Seller Central for more info.
Best Practices for Implementing Strikethrough Pricing for your Amazon Business
- Accuracy: Ensure that the reference price accurately reflects the price at which you have made substantial sales of the product. Misleading discounts can lead to deal suppression.
- Transparency: Clearly communicate the original and discounted prices to customers to build trust and encourage purchases.
- Compliance: Regularly review Amazon's policies to ensure your pricing strategies align with current guidelines.
Getting Started with Amazon PPC for Beginners
For beginners looking to leverage Amazon's paid advertising options, Amazon PPC (Pay-Per-Click) is a powerful way to boost visibility and drive traffic to your product detail page. A successful Amazon PPC campaign helps promote your products to potential customers through targeted ads, making it easier to stand out in the crowded marketplace. Whether you're promoting a new product or looking to increase sales for an existing one, understanding the basics of Amazon ads can lead to significant growth. To get started, check out detailed tutorials on LinkedIn or Amazon's help resources to guide you through the setup and optimization process. By combining Amazon PPC with effective strategies like strikethrough pricing, you can maximize your product's visibility and conversions, driving even more traffic to your listings.
Conclusion
Strikethrough pricing remains a valuable tool for Amazon sellers to attract customers and boost Amazon sales through higher conversion rates. By understanding and adhering to Amazon's policies, you can effectively implement this strategy and enhance your product's visibility and appeal.
