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Pricing Strategy

Setting the right prices for your books balances profitability with competitiveness. This guide covers pricing approaches for new and used books.

Pricing Basics​

Price Components​

Every inventory item has two price fields:

Sale Price (required)

  • Your selling price
  • What customers pay
  • Shown prominently on listings

Compare-at Price (optional)

  • Original or list price
  • Shows discount to customers
  • Example: $24.99 $18.99 (24% off)

Price Format​

  • Enter in dollars with cents
  • Format: 14.99
  • Range: $0.01 - $9,999.99
  • No dollar sign needed (added automatically)

Pricing New Books​

List Price Strategy​

Match Publisher Price:

  • Find the list price on the book cover
  • Use that as your sale price
  • Simple and straightforward
  • Customers know what to expect

Advantages:

  • Easy to implement
  • No competition on price
  • Maintains perceived value
  • Fair to all parties

When to Use:

  • New releases
  • Bestsellers
  • Limited availability titles
  • Premium editions

Competitive Pricing​

Research Competitors:

  • Check online retailers
  • Survey local bookstores
  • Consider shipping costs
  • Factor in convenience

Set Your Price:

  • Match or slightly below online prices
  • Emphasize local shopping benefits
  • Factor in your costs
  • Consider shipping added value

Example:

  • Amazon: $19.99 + shipping
  • Your Price: $19.99 (no shipping, shop local)
  • Value: Instant availability, support local business

Discount Pricing​

Common Discounts:

  • 10% off list price
  • 20% off for members
  • Buy 2, get 10% off
  • Seasonal sales

Use Compare-at Price:

  • Compare-at Price: $24.99 (list)
  • Sale Price: $19.99 (your price)
  • Shows: 20% off

When to Discount:

  • Moving older stock
  • Seasonal promotions
  • Clearance items
  • Customer appreciation events

Publisher/Distributor Pricing​

Wholesale Costs: Typical bookstore markup:

  • Hardcover: 40-50% margin
  • Paperback: 40-46% margin
  • Trade paperback: 40-50% margin

Calculating Retail:

Wholesale Cost: $14.00
Standard Margin: 40%
Retail Price: $23.33
(or round to $22.99 or $24.99)

Factors Affecting Cost:

  • Volume discounts
  • Publisher relationships
  • Direct vs distributor
  • Freight/shipping

Pricing Used Books​

Used book pricing is more art than science.

By Condition​

Set different prices for different conditions:

New (100% of list price)

  • Unread, pristine
  • Full list price or 5-10% off
  • Example: $24.99 list → $23.99 or $24.99

Like New (70-85% of list price)

  • Appears unread, minimal wear
  • Example: $24.99 list → $17.99 - $21.24

Very Good (50-70% of list price)

  • Gently used, minor wear
  • Example: $24.99 list → $12.49 - $17.49

Good (30-50% of list price)

  • Average used condition, noticeable wear
  • Example: $24.99 list → $7.50 - $12.49

Acceptable (20-40% of list price)

  • Heavily worn but readable
  • Example: $24.99 list → $5.00 - $9.99
tip

These percentages are guidelines. Adjust based on demand, availability, and local market.

Demand-Based Pricing​

High Demand Books: Price higher within condition range:

  • Popular titles
  • Hard to find
  • Current bestsellers
  • Award winners
  • Example: Very Good condition at 70% instead of 60%

Low Demand Books: Price lower to move inventory:

  • Slow sellers
  • Common titles
  • Dated content
  • Overstocked items
  • Example: Very Good condition at 50% instead of 60%

Availability-Based Pricing​

Out of Print Books:

  • Check online prices
  • Can command premium
  • Rare condition = higher price
  • Consider collector value

Still in Print:

  • Must compete with new copies
  • Price significantly below new
  • Emphasize cost savings
  • Make used purchase attractive

Example:

Title: Classic Novel (still in print)
New List Price: $16.99

Your Used Pricing:
- Like New: $11.99 (29% off)
- Very Good: $9.99 (41% off)
- Good: $7.99 (53% off)

Market Research​

Check Comparable Prices:

  • AbeBooks for used books
  • Amazon used marketplace
  • Other online booksellers
  • Local competitors

Consider:

  • Condition accuracy varies
  • Shipping costs add up
  • Local convenience value
  • Your unique offerings

Special Cases​

Signed Copies:

  • Add 20-50% premium
  • More for famous authors
  • Note signature in listing
  • Price based on market

First Editions:

  • Research collector value
  • Significant premium possible
  • Authenticate carefully
  • Consider professional appraisal for valuable books

Rare Books:

  • Specialized pricing needed
  • Research similar sales
  • Consult rare book guides
  • May need expert valuation

Competitive Analysis​

Research Your Market​

Local Competitors:

  • Visit other bookstores
  • Note their pricing strategy
  • Understand your market
  • Find your niche

Online Competitors:

  • Major retailers (Amazon, etc.)
  • Online-only bookstores
  • Used book marketplaces
  • Consider total customer cost

Your Advantages​

Why Buy Local:

  • Immediate availability
  • No shipping wait
  • No shipping costs
  • Browse before buying
  • Support local business
  • Personal service
  • Community connection

Price Accordingly:

  • Don't have to undercut online prices significantly
  • Match or slightly below is competitive
  • Emphasize value beyond price
  • Build loyalty with service

Dynamic Pricing​

When to Adjust Prices​

Increase Prices:

  • Book goes out of print
  • Demand spikes
  • Movie/TV adaptation announced
  • Award won
  • Limited stock remaining

Decrease Prices:

  • Been in stock too long
  • Need to move inventory
  • Seasonal clearance
  • New edition released
  • Multiple copies in stock

Seasonal Pricing​

Back to School (August-September):

  • Classics and assigned reading
  • Student-friendly pricing
  • Textbook discounts

Holiday Season (November-December):

  • Gift book pricing
  • Premium for in-demand titles
  • Holiday specials

Summer (June-August):

  • Beach reads
  • Travel guides
  • Clear winter stock

Bulk/Volume Discounts​

Encourage larger purchases:

Examples:

  • Buy 3+ books: 10% off
  • Spend $50+: 15% off
  • Mix and match deals
  • Loyalty program pricing

Implement:

  • Set base prices normally
  • Discount at checkout/POS
  • Or create discount codes
  • Track in your POS system

Pricing Tools and Resources​

Online Price Checkers​

For Used Books:

  • BookScouter.com
  • AbeBooks marketplace
  • Amazon used marketplace
  • eBay sold listings

For New Books:

  • Publisher websites
  • Ingram iPage
  • Amazon
  • Bookshop.org

Price Calculators​

Simple formula for used books:

Base Price = List Price × Condition %
Your Price = Base Price ± Demand Adjustment

Example:
$24.99 list × 60% (Very Good) = $14.99 base
High demand: +$2 = $16.99
Low demand: -$2 = $12.99

Industry Resources​

Stay Informed:

  • American Booksellers Association (ABA)
  • IndieCommerce pricing guides
  • Publisher catalogs
  • Industry newsletters

Common Pricing Mistakes​

Too High​

Problem: Books don't sell, inventory stagnates

Signs:

  • Books sitting for months
  • Customers comparing prices on phones
  • Choosing online over your store

Fix:

  • Lower prices gradually
  • Match competitive rates
  • Emphasize value-add
  • Clear out slow movers

Too Low​

Problem: Losing profit margin, devaluing inventory

Signs:

  • Selling fast but not profitable
  • Can't sustain business
  • Customers expect rock-bottom prices

Fix:

  • Gradually increase prices
  • Test price tolerance
  • Add value (service, events, atmosphere)
  • Focus on experience, not just price

Inconsistent Pricing​

Problem: Confuses customers, seems arbitrary

Signs:

  • Customer complaints about fairness
  • Similar books priced very differently
  • No clear strategy

Fix:

  • Develop consistent pricing rules
  • Apply formulas uniformly
  • Document your strategy
  • Train staff on pricing

Ignoring Market Changes​

Problem: Missing opportunities or losing money

Signs:

  • Prices don't reflect current market
  • Out of touch with demand
  • Missing trend-based opportunities

Fix:

  • Review prices quarterly
  • Monitor bestseller lists
  • Track what sells quickly
  • Adjust based on data

Pricing Psychology​

Price Points​

Charm Pricing:

  • $19.99 instead of $20.00
  • Perceived as better deal
  • Common in retail

Prestige Pricing:

  • $25.00 instead of $24.99
  • For premium items
  • Conveys quality

Competitive Pricing:

  • Match competitor exactly
  • Remove price as decision factor
  • Compete on other attributes

Anchoring​

Show Original Price: Use compare-at price to anchor:

  • $24.99 $18.99
  • Customer sees the savings
  • Makes sale price more attractive

Bundle Pricing:

  • Individual: $14.99 each
  • Set of 3: $39.99 (save $5!)
  • Anchor to individual price

Setting Prices in BookWish​

For New Inventory​

When adding books:

  1. Research the book
  2. Find list price
  3. Decide your strategy (match, discount, etc.)
  4. Enter your sale price
  5. Add compare-at price if discounting
  6. Save the item

Updating Prices​

To change prices:

  1. Find the item in inventory
  2. Tap to open details
  3. Tap Edit icon
  4. Update price field
  5. Update compare-at price if needed
  6. Tap Save Changes

Changes:

  • Take effect immediately
  • Apply to new orders
  • Don't affect existing orders

Bulk Price Changes​

For changing many prices at once:

  1. Export inventory to CSV
  2. Update prices in spreadsheet
  3. Delete inventory items (if needed)
  4. Re-import with new prices

Or:

  • Edit items individually
  • Use pattern/formula approach
  • Change popular items first

Monitoring Performance​

Track What Works​

Key Metrics:

  • Sales velocity by price point
  • Profit margin by book
  • Customer price sensitivity
  • Bestsellers at what prices

Analyze:

  • Which books sell at full price
  • What needs discounting
  • Optimal discount levels
  • Seasonal pricing patterns

Adjust Based on Data​

Regular Reviews:

  • Monthly pricing review
  • Seasonal adjustments
  • Clear slow movers
  • Optimize bestsellers

Use Wishlist Demand: See what customers want and price accordingly to win their business.

Next Steps​

Need Help?​

Questions about pricing?