Step 10. Decide on the pricing strategy and edit the prices
To get the profit from your sales you need to think about your pricing strategy: how much would you like to increase the original price from Aliexpress, would you icnlude the shipping price to the price of the item or set a paid shipping. Do not also forget to set the currency on your web site.
Edit currency settings
AliDropship Plugin uses US Dollars as a primary currency set by default. You can change it if you plan to work with another currency. In this case, all the product prices in US Dollars will be automatically converted into the selected currency according to Google Finance converter. Up-to-date exchange rates can be found next to Currency settings.
As you can see, there are dropdown menus for selecting a default currency and additional ones.
If you enable the toggle “Currency location”, the plugin automatically shows the currency based on the customer’s geographical location detected by his/her IP address.
Setup pricing markup formula
All AliExpress products imported to your website appear at their original prices. To make your dropshipping business profitable, you need to determine pricing rules and set markups – the amount added to the cost of products to cover overhead and profit. You can set prices manually but it is more time-consuming and it puts you at risk of having outdated prices.
Pricing is easy with the option of Pricing markup formula. How to apply the pricing formula on the products you have on the store please refer to the guide below: