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One of the basic functionalities of the Multi-Channel Integration Platform is the possibility to establish price rules.
This option is one of the steps necessary for setting up your sales channels (like, for example, a 360º Dropshipping Shop).
In this article, we will explain how to set up the price rules section.
Personalising price rules
By default, BigBuy creates all sale prices (equivalent to BigBuy’s Recommended Retail Price). If you do not want BigBuy’s RRP to appear, you can define your own price rules. If you leave it “Off”, the RRP will be applied. If you activate it, you can create new rules by clicking on the “+” button.
Depending on what is most appropriate, you can choose to set the prices as a percentage margin or as a percentage of the profit. Below we explain what each of these pricing strategies consists of.
Keep in mind that if you have already created pricing rules and you choose a different pricing strategy, this new pricing rule will be applied to the prices of all the products.
Pricing strategy for percentage margin
With this option, you can set the Retail Price by applying a percentage to the wholesale price.
Retail price = Wholesale price (without taxes) + (Wholesale price (without taxes) * (Percentage / 100)) + Taxes
Pricing strategy for percentage profit
With this option, you can calculate the Retail Price while keeping in mind the profit margin that you wish to obtain.
Retail price = Wholesale price (without taxes) / ( 1 – Profit / 100) + Taxes
– Price rules per price range: In this section, you can choose the percentage for products of a certain price. If you leave this OFF, BigBuy’s RRP will be applied. If you click on “+”, the following screen will appear to create a new price rule:
For example, for products sold for between €0-10, you can stipulate that a profit of 30% be applied. In the bottom section, you will see a simulation of the selling price of a product with the selected rule.
When done, click “Create”.
Once this price rule has been created, you can edit or delete it using the two icons that appear on the right. If you turn the green slider to “OFF”, the price rule will no longer be active, but will not be erased. You can activate it again when you want without losing your configuration. There is a column in which you can see the simulation of the selling price of a product of this type in an example of an Distributor Sales Price.
– Pricing rules by category: In this section you can personalise the percentage for the final level categories, as these contain the associated products. You can define, for example, that all products with sinks as the default category (Kitchen | Gourmet > Kitchen Equipment > Sinks) have a percentage of 50% applied to them.
Warning! This rule has precedence over the previous one. That is, if you apply the rule that all products between €10-20 have a percentage of 30%, but then apply a percentage of 50% to the umbrella category, the 50% rule will dominate.
The function to create this rule is very similar to the above. Activate it (changing it to ON) and click on “+”. The following screen will appear:
Choose the desired category and enter the profit margin you wish to earn. Then, click “Create”.
Once created, you can edit or delete it with the two buttons at the right.
– Price rules per product: This rule refers to a specific product. You can indicate its reference and apply a certain percentage. Find out how:
1. Firstly, search for the reference of the product for which you wish to define a price rule. If you are logged into your BigBuy account and access a certain item, you will find the reference in the product file. Copy it.
2. Go to MIP, set the price rules per product to ON and click the “+” icon to add a new one. The following screen will appear:
3. In the “Product” field, paste the reference of the desired product. Remember that you can only enter the references of products whose category has been selected for sale on this sale channel. If you choose not to show the Home and Garden category, you cannot enter the references of products belonging to this category.
4. In “Profit Margin”, enter the profit percentage that you wish to apply to this item.
5. Click Create. Once created, you can edit or delete it as you wish.
This rule has preference over the two previous ones.
You can use this function to apply offers directly to products on the sales channel of your choice. To do this, simply activate the button and add the SKU code to the products you do NOT want to add with the synchronisation.
With this simple process, the prices of the products that you have indicated NOT to add will not be synchronised and you will be able to add them manually directly into the ecommerce or marketplace control panel.
The next option allows us to establish a minimum safety profit for all sales we make. If we indicate “2”, for example, the system will establish prices over which the profit will always be €2. This rule has preference over all price rules mentioned above.
For some marketplaces, the option of “Emarketplace Commission” may appear. This option consists of setting a percentage that will be applied to the final price of the product in order to cover the costs added by each marketplace to the sale of a product with a view to achieving better sales margins.
Rounding off is an automatic option that rounds prices to make them more visually appealing. If we place the cursor in ON mode, prices will be rounded off as indicated in the example included in MIP.
Retail price applied to each channel
If you want to find out what calculation that has been applied to get the price of a product, you can get it by entering the product record, either in the product section or in the product line of an order.
In the product record, click on the blue channel icon for the product details you want to see.
A screen will open with the price calculation details.
In the following article, we explain how to check the prices of the products in each sales channel.