(Picture source: Tu Chong Creative)
How to check the product prices at the front desk and how to price your own products have always been questions frequently asked by friends who are new to the Joom platform. This article will give you in-depth answers to all aspects related to the price of the Joom platform.
1. How to check the pricing?
The Joom platform does not distinguish between national sites. The unified login URL for global users is http://www.joom.com. The platform will automatically convert the display language and currency according to the IP address the user logs in to. For example, when a British user browses, the price in pounds and the English interface are displayed, when a French user browses, it displays , French, , and euro prices, and when a Russian user browses, it displays Russian and ruble . , since China is not the target market of the Joom platform, the platform will not translate for Chinese users, and the platform will display English and US dollar pricing by default. If you want to check the pricing, please use scientific Internet tools reasonably and log in to the nodes in Russia and Germany. The prices you see will be more informative.
Picture source: JOOM
2. What is the composition of the front desk price?
Image source: JOOM
The seller’s product selling price and logistics costs are the determining factors for the front-end price of the Joom platform. In addition, promotional activities and platform price adjustments (rounding up) will also cause slight price fluctuations.
Joom's logistics costs are automatically estimated based on the user's location, the size, weight, and sensitive cargo attributes of the product. For users in countries covered by Joom Logistics (hereinafter collectively referred to as online countries), the platform will estimate shipping costs based on a certain calculation formula and add them to the free shipping price displayed at the front desk; for countries not covered by Joom Logistics channels (hereinafter unified For users in (called offline countries), the price displayed on the platform is the seller’s selling price + the shipping fee set by the seller.
At present, Joom Logistics has covered more than 50 countries. More than 95% of the orders on the platform are carried by Joom Logistics, and the proportion of orders from offline countries is very small.
Of course, the platform also encourages sellers to use overseas warehouses for delivery, and orders shipped from overseas warehouses are regarded as offline orders.
3. How to price products?
After leaving the long-standing problem of logistics to the platform, Joom platform’s pricing has become very simple. Sellers only need to consider the purchase cost of their products + commission rate + gross profit margin (including refund rate, discount rate for marketing activities and seller’s profit). Joom’s commission rate for some mobile phones, tablets and smart wearables is 5%, and the commission rate for other categories is 15%.
On the product price setting page (take the backend page as an example, the ERP setting logic is the same):
• Price is a required field. This is the real selling price of the seller's product, regardless of promotion, advertising and logistics, after deducting commissions for natural traffic orders. It’s the amount the seller gets. Various promotions on the platform are also calculated based on this price. When setting discounts, a 20% discount is equivalent to "20% off" and a 25% discount is "25% off". Please do not set discounts incorrectly based on domestic habits. In addition, the commission on the platform is always calculated based on the final transaction price. For example, if a product sells for $10 and the transaction price is $8 during a 20% discount event, the commission paid by the seller is $8*15%=$1.2.
• Manufacturer’s recommended retail price, commonly known as tag price or crossed-out price, is optional. If the seller needs to fill it in, it is recommended that the discount does not exceed 50%. Excessive discounts, such as the original price of $200, current price of $2, 99% off, will cause buyers to Disgust, in turn, reduces conversion rates.
• The default shipping fee is the default shipping cost of the product to offline countries. This price will be involved in commission deductions, but will not be involved in the calculation of promotional discounts, so please include the commission rate when pricing. For most sellers, the default shipping fee is not very useful, but it is recommended to set a price that is not 0. Consider 5-10 US dollars for light and small items, and 10-20 US dollars for large items. This way, when receiving offline national orders, At this time, the seller can receive the shipping fee to deliver the goods. If set to 0, it may cause the seller to lose money on the order.
• Customs price, optional, the seller can fill it in as needed.Please do not enter a customs price that exceeds the selling price of the product.
(Picture source: Joom)
If you want to know how the price is converted into income and what deductions are made in the middle, you can check it on the order details page. On this page, the platform also displays the product price details in detail. For example, the original price, which promotional activities the product has participated in, what deductions have been made, the final transaction amount, the platform's commission, and even the amount of compensation expected if the order is lost, will be listed one by one, making it clear at a glance.
(Picture source: Joom)
4. Why is the product displayed as out of stock at the front desk and there are 0 products in the store?
(Picture source: Joom)
After a friend uploaded a product, he went to the front desk to check his products with great interest, but found that the store was empty, the number of products was 0, and the page opened by entering the url link of the product also showed Sold out! (missing) goods). This is due to the platform’s country blocking policy. Some sellers will block China in the seller's backend settings (note), which means that the seller's products are not available for sale in China by default. At this time, if you log in to the front desk without the assistance of scientific Internet tools, you will not be able to see any products.
Sellers can check the account's allowed/blocked country status in the menu in the upper right corner of the seller's backend - Settings - Allowed Countries & Regions. If the seller wants to ban sales to certain countries, they can also click the Ban button next to the country name in the list on the left to add the country to the list of disallowed countries & regions.
(Note: For new sellers registered in the second half of 21, offline countries will be blocked by default.)
(Picture source: Joom)
5. Why are the prices seen at the front desk abnormal?
A friend saw at the front desk that a product that cost just a few yuan was sold for more than $200, and it had thousands of reviews. That's because most of his IP address is recognized by Joom as an offline country, so the platform displays the offline shipping fee set by the seller. For example, the shipping fee set by the seller in the picture below is 200 US dollars. What you see when logging in from China are the prices in offline countries.
(Picture source: Joom)
The above is all the price content of the Joom platform. I hope it can solve your doubts about the price setting of the platform. Welcome to follow our follow-up articles to learn more about Joom platform operations.
