A question I often receive from authors after they've published is in regard to why their book is listed for sale at different prices on different retailer websites such as Amazon, Booktopia or Barnes & Noble. The author has gone to all the trouble of working out a fair recommended retail price, only to find their book being sold on a retail website for half that amount—or sometimes double! How is that possible or even fair?
The retailers do some crazy things with pricing, don’t they? Unfortunately, we don’t have any control over what price retailers charge for your books. They could charge $1 or $100.
But I already set a retail price!
You've set a recommended retail price (RRP) for your book, which is what you recommend retailers sell it for. However, you can’t force retailers to sell it for that price. They could have a sale of 50% off, or they could decide to increase their profit and sell it for double what you recommend. As we see in our local shops every day, there are many different prices for the same product and, as consumers, we love to shop around to get the best deal.
Will my profit change?
Now for the good news. Please be assured your distributor, IngramSpark, sells your book to every retailer for the same wholesale price. So your profit—called your "publisher compensation" in your IngramSpark account—is always the same.
Keep your metadata up to date
It’s a good idea to log in to your IngramSpark account and review your RRP to make sure that it's keeping up with inflation and the rising cost of printing. It's wise to check your pricing at least once a year to ensure you're staying ahead. International exchange rates could change your overseas pricing, so update these as well.
Why not check all your metadata while you're in there to make sure your book’s details are spot on? Ensure your categories and keywords are the best you can choose for your book, and make sure your description is up to date.
Adjustments you make will be sent out to retailers, and they'll update your listing on their websites. This can also be a good way to have your listing refreshed and perhaps even have retailers review your pricing!
I hope this helps you understand how book pricing works from the other side of the shop counter.
