Pricing Strategy: How to Implement a Price Increase

Implementing a Price increase is something dealers often think about with dread and is also a complicated part of eCommerce.

However, there are some necessary times to increase prices to keep up with increasing costs of supplies, boost profit margins, take your eCommerce store to the next level, or several other reasons.

This post will walk you through how to raise your price (using several pricing strategies) to ensure you trim your losses and improve your profits.

How to Raise Your Prices

The decision to raise prices is challenging, with many ramifications for your business. Let’s go through it:

Raise Stock Prices in Python

To raise the stock price in python, first, you need to download the python from Microsoft Store. Once downloaded, create a new TXT Document of the following command and save it as py. In the below example, we are going to raise the stock price by 2%; you can change the value as per your preferences.

ammount=int(input(“Enter price”))

final_price=((ammount/100) *2) +ammount

print(final_price)

Next, run the document through Windows Command Prompt. Once opened, type python [file name] and hit Enter. Enter the price and then Enter.

Here you can see a percentage is applied to your current price.

Raise Stock Prices in WordPress Quick Edit

WordPress Quick Edit is the most straightforward way to implement a price increase. To do so:

Open the Dashboard of your Online Store and select the products section.
Choose the products you want to raise their prices.
Select “Edit” from the “Bulk actions” on the top left pane and click Apply.

On the right, expand the price section and click the “increase existing price by (fixed amount or %)” under the “Product data.”

Enter the percent value you want to increase your product’s prices by, then click Update.

That’s it. Your prescribed Percentage will be applied to your selected products.

Raise Stock Prices Using Percentage Calculator

Another strategy to raise stock prices is the Percentage Calculator. To utilize it, you need to put the percentage value and then your existing price simply; resultantly, it will show you the final price.