TemplateMonster marketplace updates Shopify and OpenCart themes’ pricing, letting authors decide on the cost of their products. How to set themes’ cost? What factors should an Author take into account? Let’s see.
Users love Shopify since this platform allows them to create functionality-rich eCommerce websites without writing code.
According to BuiltWith.com, there are 1,422,815 websites created with Shopify all over the world. In the United States, Shopify is the 2nd most popular choice in the eCommerce category.
Google Trends illustrate a growing demand and interest in Shopify (compared to other eCommerce solutions).
More than a thousand Shopify themes are available for sale in the TemplateMonster marketplace, and we are planning to expand the product assortment within this category further.
OpenCart is also widely used for eCommerce purposes. As of 2020, OpenCart is used on 1% of all websites that you can find online. The platform is easy-to-use and highly customizable. There are many ways to design and sell OpenCart themes. In the TemplateMonster marketplace, we accept OpenCart themes of different styles and for multiple purposes.
What commission do authors get for selling Shopify and OpenCart themes?
Commission rates for selling Shopify themes make up 40% for selling items non-exclusively in the marketplace, and 50-65% for exclusive products.
Commission rates for selling OpenCart templates are 50-65% for exclusive templates and 40% if the author elects to sell themes non-exclusively.
Setting Shopify Themes’ Pricing
In the TemplateMonster marketplace, the recommended Shopify Themes’ pricing is $118 – $160 per item; the average price is $139.
As for OpenCart Themes’ Pricing, the price range is $67 – $91; the average recommended price is $91.
From now on, authors can set the Shopify and OpenCart themes’ cost starting from $29. This improvement aims to draw attention to these top eCommerce product categories in the marketplace and allow authors to decide on their templates’ pricing.
So go ahead and update the prices for your products!
Please mind: Author-driven pricing for Shopify and OpenCart themes is launched as an experiment.
Things to consider before setting the price for Shopify and OpenCart themes
Average price – to get started, analyze the market, their products, and define the difference between your items and your competitors’ themes. Decide whether you are planning to keep your products in line with others or sell your products at lower/higher prices.
The product’s value – what functionality does your product have? How many demo options are there? What unique features have you added to the product? How many similar templates are sold in the market? Does your product belong to the niche-specific industry?
Your own expenses on creating the product – how much effort, time, and funds do you contribute to creating the product? The pricing reflects these points, too.
Expected revenue – having known your sales statistics, you can calculate your income for selling the product in perspective.
I’ve chosen the price. What’s next?
Now, keep an eye on traffic and sales of your products. Choose the period for monitoring your themes’ performance to define whether the result matches your expectations. For the best outcome, we recommend you revise the functionality of your existing products, add customization options, and new features.
Do not forget about preparing stunning demos, presentation materials, and relevant product information so the customers could easily find your products!
P.S. Starting from September 1, 2020, TemplateMonster authors selling graphics can also set their own price on every item they upload. In addition, you earn a set 65% commission from the sale of both exclusive and non-exclusive graphics. The 65% commission is also applied to those items that were added to the marketplace before September 1.