Hello, So I am wanting to re-open my mall. But the prices on SMP1 are absolutely nuts.. not sure if its from an influx of items, demand or what. But these prices are absurd and would love to see them come down. How would someone go about doing that, is that even possible? Any thoughts?
Slowly lower your prices over time while staying in stock. Also if you can talk to other mall owner's to do the same.
As supply goes up, demand goes down which in turn brings the prices down. Simple Economics, but it's your job to find that perfect balance. If you look around at malls across emc you can get an average price range for items granted your not taking averages from smp1
If you're willing to sacrifice your own resources, buy/acquire a ton of one item and sell it for the price you feel it should be as opposed to the price it goes for. For instance, get a gold farm and sell ingots for 10r apice, or spend a day mining obsidian with a mincer and a haste 2 beacon and sell obsidian for 20r apice.
I agree on the economics thing but there is more to it than current supply in demand in this type of set up. I think I also struggle with the statement prices are to high. Prices should follow the servers economic life cycle so they are what the market will support. More rupees existing will create inflated rupee prices. I would suggest that we need to help others figure out ways to be more involved in the economy to assist them in being able to get stuff. EG: explain auctions so they can go gather and make some rupees. Take them through the benefits of voting and how that really adds up over time (roughly 250k every 100 days) and if you want to help, make your malls buy prices to sell price margins tighter. This will entice more people to sell to you and since prices are slightly higher over time this will help them earn a little more. New players issues: 1) Newer players who make shops will want to try to get more to catch up. So they will try to get the max price they can for products which can hurt too. 2) New players who just join will not want high prices due to less rupees even with initial tutorial and sign up bonuses. However, I see nothing wrong with a new player needing to work a couple hours for diamond armor and a few days for elytra. May just be me. Older players: 1) Older players (or wealthy ones) may be willing to sell for less because rupees income is less important. Voting alone will make 2+ year old players with more than a million rupees. 2) An older player with money will be able to pay more for bulk or auction items they want which will drive up purchase prices that will set shop pricing. I've seen shulker boxes go for 200k+ a dc and nether quartz blocks for 175k, so how could a shop owner sell a shulker box for less than 4k with out a loss or nether quartz blocks for under 50r each? In your instance, you can easily sell for a lower price and either your competition will follow or they will likely lose business. I doubt you have to do anything else. Heck, I get complaints from time to time on prices posted on chests with no stock so if you have stock it will take business away. I do suggest thinking about why you want to lower prices before you do. Who is it really going to help? EG: if you make wheat 3r per stack rather than 5r did it really make it that much better deal as 2r is not much generally even to a new person. If you made Elytra 9500r per rather than 10k, would that make it that much more affordable to a new player? I don't think so. Just my 2 cents, obviously people will do what they want and it is there right to.
I think it will be very hard to do! First things first, allot of big store's should lower there prices. If only you lower you're prices the items will go out of stock very quik, or will be bought and resold by bigger store's. So it would only be possible if all the big stores lower there prices, wich they probely wont. And then there the second problem. The supply and demand. Some items are cheap, like farmingstuff. If those prices would go even lower there is no point of gathering them. It would take more time and money for example to create a big Wheat farm then most people would earn if the prices dropped. And then there is point three, one that is like the others almost impossble to do. Staff would hand out items, like Diamond. If staff gave away thousends of Diamond the prices would go down as well.
SMP1 has always had higher prices then the other SMPs. When I was a new player I made alot of money just buying out malls and then reselling to smp1. You could take the time to slowly drag down prices of smp1 if you do as suggested by having lower prices and always being in stock, Or you could take your mall to another smp. Each smp has its own unique economy. There are a few smps that dont have a go to mall other then azoundria, ( who still buys out malls so they can sell at higher prices. ) I know a couple people who have malls on more then one smp just to do it.
Reselling has a bad reputation, but in truth the larger malls are essentially reselling with their sell/buy signs. Shops supplied by players can't lower prices without taking a short term loss, and so prices generally trend only upwards. If you're self stocking then go ahead and offer low prices. Even if someone resells you're making sales at your full price and that's something to be happy about. The only way I know to lower market price is to supply so much that reselling is unprofitable. This happens when a new farming mechanic is released and sometimes with extreme player effort. (Like when emeralds hit 50r prior to v1.8 crop farms.)
Well other than self collecting, everything is reselling. Whether from a message in game, pm in conversations, reverse auction, auction or purchase to resell. I would love to collect everything for pure profit but I spend a lot of time now and there is no way. However, I think its fine unless other wise posted or say use of free/dirt cheap public farms to retail use. There is one thing to find and take advantage of a price gap but another to in a way cheat the system. Plus reselling efforts are only short term, just like a great find on a product. Each chest on the selling side or buying side only has so much room and so much stock. For example, shop-1 sells sugar cane at 1r per 64. Shop-2 is buying Sugar case at 20r per 64. While buying from one and selling to the other may seem wrong, the seller did set a price and the buyer as well. Eventually, the buyers chests will fill. Since they are buying at 20r per 64 they likely will either sell no sugar cane even with a tight margin of say 2r making it 22 per 64. People needing sugar cane will still get it for 1r not pay 22r. No one can resell or even sell to the one offering to buy at 20 because it is full and will have little chance of even having much open room. If they want to compete, they either have to HOPE the other lower priced store(s) run out or they also have to drop pricing taking a loss. Again, other than promo's I'm not sure I see normal mall items that are that absurdly over priced vs the income people can make even from voting. The only ones this becomes mildly questionable for are those whom are brand new because it still takes some time for the bigger voting bonuses to show up. However, to be fair, a new player should have to work some before having everything. 3-5 year players likely have either much of value or some fair amount of rupees (realizing not all but in general) so whether they pay 120r per diamond vs 80r per diamond for enough to make full armor and tools weapons will not make a notable difference. I'm not against fair prices, but that is somewhat subjective. Another 2 cents from me, I'm up to 4. If I make it to a buck I'm done! = )
Reopen your mall with prices that are lower than any of the other malls. If the other malls want players to keep buying from them they will have to lower their prices. Just make sure to keep it stocked.
Well it may not matter. Many players see a shop with say 12k momo toothpick's but its been empty for years yet they will tell other shops with them 18k is to much because they saw it for 12k. On the note of keeping stock, that is really easy on things that turn over very little, which include the easy to auto-farm stuff. Unless you have no life and no job, keeping 25r nether crystal blocks, 8k elytra, 1k shulker shells, 1500r totems of undying, 100r of all books and 15r all potions would be impossible yet alone the hundreds of other products and blocks out there just collecting yourself and no reselling. So if you have to resell, you have to be willing to take a loss on purchased goods. Or if you are trying to use "buy" to keep stock, you may not get stocks when others will pay more. I was gonna say its not rocket science but yet maybe it is. 12 cents!
You do come to an interesting point which I agree and it is happening in today's market with the U.S Dollar as well. The inflation of the rupee, but that is a whole other subject to explore. It's the consumers choice to make out a "good deal", this includes all players, not just new players. I can tell you that if you are getting bottle water at a gas station, one is $2.00 and one is $1.00 and they have an equal amount of water per container, which one are you going to choose? I would get the $1.00 one because it's water. Water are you expecting from it? (Pun intended) All your other points above you made are correct.
I on the other hand will not get the 1.00 bottle. I would get the one I like best regardless of price because I can afford it. ( aquafina is better then dasini and Smart Water is best of all. As for the SMPs making prices based on each's economy is correct. But I will happily pay more if I know it will be in stock. Also long standing malls will have a client base regardless of price because they are reliable. New malls will either need heavy advertising or need to pull in new players.
Would be a bit more like .95 vs 1.00 water. that way the price difference is nominal even though different. Lets just say unlike our buddy DarkModFallen, us normal folk eliminated the 2 buck water (eg: 40k elytra) due to over pricing. I think the difference is likely that no one is going to sell elytra for 5k (normally 10k is considered fair) In the case of even 5k elytra, it will take a little work for a new player to get it, so they may still feel it expensive. To my point, who is the lowered price helping? In a way it will just make more rupees not changing hands and would likely impact the promo market making those things even more expensive.
I know I was just throwing out a counter to it. The mall game is not easy on EMC and its always been hardest on smp1. /v 2000 kept a lot of things in check on smp1 for awhile cause it was somewhere you could go and know what you wanted was in stock. /v +anon on smp6 is some place thats also always in stock. It's my go too on that smp.
I know the owner of 2000 has been ill but to tell you the truth, I've priced it before and either prices have dropped or other ppls prices are not overpriced and in check. nice looking mall, good supplies for sure.
