You can easily mark-up all your products using a percent-based, multiplier or fixed pricing rule! This will reduce the manual labour on your end, and create adequate profit margins for you.
You can set up your global pricing rules by following these steps:
- Log into your Spocket dashboard
- Head over to Settings in the bottom left corner
- Select the Global Pricing Rules tab
- Here you can set-up the pricing rules based on your preference. Do not forget about the shipping cost, as it is NOT included in the listed price!
Important note: When you set the Global Pricing Rules, the rules won't apply to products already in your Import List or active on your store. The Global Pricing Rules will only apply to new products that you push to your Import List.
Wondering what pricing rules to set? Here are a few guidelines:
There are three types of rules available on Spocket: the fixed markup, the multiplier markup or the percent markup. You can create a markup: a percent markup or a fixed markup or a multiplier one. You can add a markup that covers the average shipping cost (if you wish to offer free shipping) and allows for profit.
The Fixed Markup adds a fixed amount to all listing prices. For example, you choose a $5 fixed markup. Then, if the listing price of a product is $10, and your fixed markup of $5, the retail price of the product will be set to $15.
The Multiplier Markup as the name suggests, multiplies the listing price by whatever number you input in the settings. For example, you choose a multiplier of 2. Then, if the listing price of a product is $20, and your multiplier markup is set to 2, the retail price of the product will be set to $40.
The Percent Markup adds a percent markup to the listing price. For example, you choose a markup of 50%. Then, if the listing price of a product is $10, and your markup is 50%, the retail price of the product will be set to $15 ($10 + 50% of 10).
You can also create custom ranges for different pricing rules, and assign cents to product costs by using Advanced Pricing Rules! If you want to customize the price of a specific product and override the Global Pricing Rules you can do this by changing the product's price in the Imports List.
Once you are done, you can start adding products to your Import list.
Wondering how you should set-up your shipping charges? Check out the article here.