Smart E-commerce Pricing Strategy Using Web Scraping

A failure story: Suppose you have 50 pairs of Thug life sunglasses which cost you $33 in total. Based on cost-based pricing for e-commerce, the retail price for each pair should be the sum of unit manufacturing cost and unit marginal profit. Cost + Markup = Listing price Then you do the calculation accordingly: $0.7 material cost, ($30/50 pairs) $4.39 overhead cost, (shipping cost to buyers) $0.7 + $4.39 = $5.09 Total cost This is the first time you sell things on eBay. Being naive and greedy, you set the markup as 95% of the cost. The retail price is $5.09…...