Lets get started.
Login to your account and go into your Settings.
From the options on the left side, click on Marketplaces and select your marketplace.
Once you see your marketplace, click the options button and select the Edit option.
On the screen, select the Pricing Rules tab.
Here you'll find:
- Default Rules
- Item Repricer Rules
- Recurring Rules
Lets look at setting the Default Rules that will be applied to all listings within the marketplace.
Click on the On button beside the Repricer Status to activate the repricer within the marketplace.
Set Start Price by Condition: While adding the items into the manifest using the ASIN or the UPC, when the automatic prices are fetched from the marketplace, these rules in the table will be applied to the items as per their respective conditions.
NOTE: This table and the rules within it are completely ignored if you're uploading the items to the manifest using a .csv file and if you've mentioned their retail price within it.
List items for which price information is missing at: Some items will not have an active seller on the marketplace. For those items, SellerChamp will initialize the price that you set here.
Do NOT list item if price is less than: Do not list an item if the price is less than the value assigned here.
Let us now understand and define your marketplace repricing rules (With an example).
For the sake of understanding, let us assign the Start price of the listing as $100
Decrease listing prices using repricer.
- Drop the price of my item by 2% if I do not sell atleast 1 units in 2 days.
This means that if you're unable to sell an an item within 2 days, the prices will be dropped by 2%
- Continue to drop the price by 5% every 1 hour until I make a sale.
This rule is assigned to speed up the rate of price decrements, after Rule 1 has been activated, this rule will drop the prices further by 5% every hour till a sale is made.
Increase price of listings using repricer.
- Increase the price of my item by 2% if I sell atleast 1 units in 2 days.
This means that if you've sold an item within 2 days, on the 3rd day the price of the listings will increase by 2%.
- Continue to increase the price by 2% as long as I sell a unit every 1 hours.
This rule is assigned to speed up the rate of price increments, after Rule 1 has been activated, this rule will raise the prices further by 2% every hour.
- Set the minimum price at 90% of start price [$100] + $[extra charges]
The repricer will not drop the prices below $90 + $ [extra charges]
- Set the maximum price at 110% of start price [$100]
The repricer will not raise the price above $110
In addition to the above rules, you can set the Start Price, Min Price and Max Price for an individual items by following the below instructions:
STEP 1: Click on the Edit option [Icon with a pen]
STEP 2: Under Selling Details set the Start Price, Min Price and Max Price.
NOTE: The min & max prices set at the item-level will be always take precedence over the min & max percentages set as default in your account settings page.
Therefore, before repricing an item, your item-level min & max prices will be checked.