Fair Pricing & Reference Pricing Guidelines

Fair pricing ensures your products are priced honestly and competitively on Elexbig. Your product prices should:

• Reflect genuine market value
• Be consistent with prices on your other sales channels (unless part of a legitimate promotion)
• Avoid artificially inflating base prices to exaggerate discounts

Important: Unfair pricing practices, such as price gouging during emergencies or creating fake discounts, are prohibited and may result in listing removal or account suspension.

Reference prices include "RRP" (recommended retail price), "was" prices, or "compare at" figures. These help customers understand the value they're getting, but they must be used honestly.

Reference prices are only permitted when:

• The product has been sold at that price recently (within the past 60 days) and for a reasonable period
• The reference price reflects a genuine manufacturer's or supplier's recommended retail price
• You can provide documentation (invoices, supplier catalogues, or price lists) to support the claim

⚠️ Warning: Vendors must not use inflated, fabricated, or misleading “original,” “before,” or reference prices to make discounts appear larger than they actually are. Such practices may violate Nigerian consumer protection laws and ELEXBIG’s marketplace policies and may lead to account suspension, permanent delisting, fines, or other legal consequences.

• "Was $50, now $35", when the product was genuinely sold at $50 on your store within the past 60 days
• "RRP $99.99", when the manufacturer officially sets this RRP and you can verify it with supplier documentation

• "Was $100, now $40", when the product has never actually been sold at $100
• "Compare at $200", without evidence that you or the market genuinely offered the product at that price
• "RRP $150", when you've set this yourself without manufacturer guidance

Tip: Reference prices should be reviewed and updated regularly. Outdated "was" prices may be flagged by our compliance team during routine reviews.

Follow these guidelines to price your products fairly and competitively:

• Check competitor pricing for similar products
• Consider your costs, including Elexbig fees and fulfilment expenses
• Set prices that are competitive but sustainable for your business

• Update listings promptly when supplier costs or market conditions change
• Remove outdated reference prices if they no longer reflect recent selling prices
• Ensure consistency across all your sales channels (or document legitimate reasons for differences)

• Use Elexbig's coupon and deal features for genuine promotions rather than inflating reference prices
• Clearly mark limited-time offers with start and end dates
• Keep records of your promotional pricing history

• Store supplier invoices showing original costs and RRPs
• Keep price history records from your own store or other channels
• Save manufacturer catalogues or official price lists
• Have this documentation available in case Elexbig requests verification

Pro tip: Instead of exaggerating discounts, highlight other value points to attract customers, such as quality, sustainability, warranty coverage, or unique features that set your brand apart.

Elexbig actively monitors pricing across all listings to maintain marketplace integrity and protect customer trust. We use automated tools and manual reviews to identify potential pricing issues.

• First offence: Warning and requirement to correct pricing immediately
• Repeated issues: Listing removal and restriction from participating in deals or promotional campaigns
• Severe or repeated violations: Account suspension or termination

Can I set a higher price on Elexbig than on my own website?

Yes, but only if there's a legitimate reason (such as higher fulfilment costs or Elexbig's commission structure). The price must still be fair and competitive compared to the broader market. Significantly higher prices without justification may be flagged.

There's no fixed limit on discount percentages, but the reference price must be accurate, genuine, and verifiable. A 70% discount is acceptable if your reference price is legitimate, but suspicious if it's not.

No. Reference prices must relate to your own product's actual selling price history or the official manufacturer's RRP, not competitor listings or prices from other sellers.

For brand new products with no sales history, you can use the manufacturer's official RRP if available. You cannot create a reference price based on what you "plan" to sell it for or what you think it's "worth".

You'll be contacted by our compliance team and asked to provide supporting documentation within 48-72 hours. If you cannot provide evidence, the reference price will be removed and you may receive a warning. Repeated issues may result in further penalties.

Absolutely! Clearance sales, seasonal promotions, and limited-time offers are encouraged. Just ensure any discounts are based on genuine previous prices and clearly marked with the promotional period.

As a general guideline, a product should have been genuinely offered at the reference price for at least 28 consecutive days within the past 60 days. Brief price increases just to establish a "was" price don't count.

Bundle pricing is fine, but the reference price should reflect what customers would pay for items individually at your standard prices. Don't inflate individual item prices to make the bundle look like a better deal than it is.

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