The markup is the added value to the purchase price. The markup allows you to make a profit and cover all the expenses of the company. For successful sales, a margin is required, if you sell the product at the purchase price, then the profit will be equal to 0.
To sell goods at a bargain price, you, as an online store owner, need to mark up the prices offered by suppliers. You can also set prices on the website below the prices on the supplier’s website. To do this, when creating a pricing rule in our service, in this case, you need to set a negative margin.
The yfifx service has the ability to make various markups, as well as find the minimum supplier price.
Methods of repricing of products prices:
- Individual markup for a specific product. If you already have an individual markup coefficient for each product, you can import it into yfifx.
- Markups for each supplier. This is a standard functionality that allows you to set individual markup rules for each supplier’s feed depending on the product category, product price, brand.
- Dynamic markup depending on competitors’ prices. These are the markup options described in point 2, plus competitor prices. Your price will adjust to the competitor’s price (may decrease, may increase) with the specified accuracy, but not lower than the purchase price and the minimum specified margin or RRP (if any).
- Markups at the level of the Main Feed (your price list)
Important! The total prices for products, taking into account the markup, will appear when you start the function “Update prices and quantities at Main Feed”, and not immediately after creating a rule in the supplier’s feed.
Margin at the level of the Main Feed or the supplier feed
Pricing rules can be configured at the level of the supplier’s feed and / or Main feed. If there are pricing rules in both the Main feed and the supplier’s feed, then the priority of the margin at the level of the Main feed should be taken into account.
For each price list, the margin can be individual, for example, margin for certain brands, for a price range or markup for a category or for a specific product.
In the personal account of the user of the yfifx service, click on the Feeds button in the menu and in the list of uploaded feeds that appears, select the one you want to process.
Then click on the Margin Setup and in the “Margin rules for feed” window that opens, click on “Create new rule”.
A new window, Main Rule editor, will open, in which you can name a specific margin, specify the currency, indicate to which category and (or) manufacturer the margin will be applied, create a formula taking into account the marginality and payment for delivery of goods, form the old price:
Click the “Save” button and the created rule will appear in the “Margin rules for feed” window.
Building Old Price
You can create an Old Price in a Margin rule. The old price allows you to create discounts for goods on the site.
To form the Old price, the coefficient K old must be specified in the pricing rule. K old is the percentage by which the price of the product will be increased.
The old price is formed by the formula — Price * (1+ (K old / 100))
Individual product markup
You can set up an individual markup yourself for a specific product or load a column with a markup and yfifx will automatically recalculate the price taking into account the loaded markup.
In the case when the supplier in the price list gives an individual markup for each product, when importing products into yfifx, you can designate this column as Markup (K, %), Markup (Coefficient, *) and Markup (S, +).
After loading the price list, the markup will be displayed automatically in the product viewer in the Markup tab:
Behavior of products without margin
1 If the Margin rules do not apply in the supplier’s feed or in the Main feed, then the purchase price will become the selling price of the products:
2 If there are Margin rules in the supplier’s feed or in the Main feed, but the product does not fall into the price range for the selected category or manufacturer for which the margin is applied, then the price of such product in the Main feed will be reset to zero. And an error will appear in the Text Log of Price & Quantity recalculation in the Main Feed – “Error: Test – Supplier has formulas but no one applied, so price will be = 0”: