One of the time consuming actions of dropshippers is the daily follow ups on your sales and listings, for the purpose of adjusting prices based on the listings success.
As a solution to automate your business routine in this matter, We’ve created the pricing strategy feature.
What is the Pricing Strategy Feature?
It allows you to increase/decrease your listings profit automatically according to their performance, and it gives you control over the amount and the frequency of the changes.
Enabling the pricing strategy feature
- To enable the feature, visit the settings page and click on Sales & orders tab.
- Switch the button under pricing strategy section to ON.
- Click the update button at the bottom of the page to see the feature settings.
Increase profit
Available parameters for edit:
- Number of sales to start from.
- The amount to increase - USD or %.
- Stop the increase after X times.
For example:
If you would like to raise the price every two sales, by 2%, but stop after 5 times the price was increased, set the parameters as shown below:
Note:
To increase the profit infinitely, set it to stop after 0 times
Decrease profit
Available parameters for edit:
- The amount to decrease - USD or %.
- Number of days the item did not sell to start from.
- 3. Stop the decrease after X times.
For example:
If you would like to decrease the profit for items that did not sell for 15 days, by 1$, but stop after 4 reductions, set the parameters as shown below:
Do not worry!
The reduction cycle will continue only if the profit is still positive, it will stop when it becomes negative to prevent you from selling in lose.
Note:
Editing the profit, price, break even or source url for an item in the price monitor page will restart the process of “stop after X times”.