Shopster's Help and Support

FAQ's - Set Pricing

1. How do I markup the price of a product, whether it is a Network product or my own product?
   • Creating mark ups (or margins) are done the same way for both types of products and they can be implemented by doing either of the following:
     • By creating a Markup Group for a group of products that you want to apply the same price markup. Example: you sell vases and want to ensure that they all have a markup of 50% over your cost (this option requires you to specify your cost of the product). To accomplish this select Inventory and then Set Pricing from the main menu. Create a new markup group called Vases and specify a percentage markup of 50%. When adding a new product to your storefront select this markup group. This option allows you to easily manage the price of many products, and takes into account that fact that if your cost to purchase the product increases then the retail price to the customer automatically increases as well.
     • By setting a fixed price for each product added to your storefront. A fixed price ensures that the retail price of a product does not automatically change with the base cost of a product. When adding products to your storefront, the system allows you to fix your product price by allowing you to price your product manually if you're adding a Network Product or by allowing you to click the Fixed radio button (within the Pricing & Inventory section) when adding your own. Note that while this option guarantees your customer a specified product price, there is a risk that you could lose money on a Network supplier product if the base cost increases beyond your specified retail price. This option may be more suitable for pricing your own products.
       
       
2. How do I change the details of a specific markup group?
   • Select Inventory from the main menu and then select Set Pricing. You can change all details of the markup group on the page presented.