Editing Price Lists
What are price lists and why would I need to edit them?
Price lists are required for sellers in order to establish retail and dropship prices with their retail partners. From time to time price lists may need to be edited in order to add new relevant products or keep your prices up to date. This guide will show you the ins and outs of modifying the price lists and some features we have available to automate this process. If you need help setting up your first price list please refer to Price List Setup Guide for further information.
Manual Price List Editing
Changing individual product pricing.
If an individual product has changed in price, or you'd like to set up a custom price for an item that falls outside of the default margins you have established, you can easily do so!
- Navigate to your price list and find the product you'd like to change the pricing scheme on. You can use the search bar for this if you have too many products to navigate through one by one. Our search supports searching via product title, SKU, or tag.
- Click on the product and you will be greeted by a modal which will give you various data points to modify. Here you can modify the seller retail price, the dropship price, as well as the wholesale pricing.
- Edit whichever value you need to change and click "Save Entry"
Retail Price: This is the price that the end customer will pay to the retailer for the product.
Dropship Price: This is the price that the retailer will be invoiced for the product.
Wholesale Price: This price will be used if you plan to sell in bulk to your retail partners. You can read more about this feature in our Wholesale Guide.
Changing price list settings.
Modifying the price list settings on the right hand side of your price list will affect your price list as a whole and will apply to every product currently listed.
List Name
This is simply the name of your price list. This name will be visible to your retail partner so it is a good idea to include some context into the price list. A common example is something like "<Company Name> Spring 2023".
Buyers Assigned To This Price List
This feature is what allows you to assign a specific price list to a retailer (AKA Buyer). Having your price list assigned to a retailer is mandatory. If this is missing, your partner will not be able to sell your products on their platform. You are able to assign multiple buyers to one price list. This can be modified at any time to include as many or as few retailers as you wish. To modify, click the edit button and you will be able to select all available retailer partners.
Dropship Margin
This is the margin field, which you may already be familiar with when setting up your price list. This option establishes the difference between the retail price the end customer pays for the product and the price that your retail partner will pay for the product. When you edit this field, it will modify the dropship price of every single product listed in the price list.
If you have a $100 product with a 50% margin, your retail partner will pay you $50 for the product while the customer pays $100.
Wholesale Margin
If your retail partner is buying from you wholesale, you may want to establish a higher margin to incentivize them to buy from you in bulk and distribute the products themselves. When you edit this field, it will modify the wholesale price of every single product listed in the price list.
Apply to New Products
This feature will automatically add new products you create into the price list. We will touch more on this feature in the Automated Pricing section below.
Ignore Product Updates
This feature will ignore any pricing changes you make to a product outside of the price list. We will touch more on this feature in the Automated Pricing section below.
Quote Minimum Value
Working in tandem with wholesale pricing, this setting will determine the minimum value wholesale order you will accept from your retail partner. This is the minimum total value a quote must be.
Your Currency and Buyer Currency
This is a static setting of your price list and shows the currency you sell in, versus the currency that the buyer sells in. This cannot be changed. If you need to change this value, you will need to create a new price list.
Conversion Factor
Since Convictional does not determine currency conversion at market rates, this setting allows you to set a custom static currency conversion rate. Modifying the conversion factor setting will change the retail price of every listed product to match the updated conversion factor.
Retail Price Format
When setting up a margin, it may change your prices to not match the pricing scheme that you prefer for your products. For example if all your products end in $0.99, you will change this value to 99. If you prefer all your prices to be exactly on the dollar you can put in 00. Leave this field blank if you are not concerned with pricing format.
Automated Price List Settings
Automated price list features are a powerful tool to save you time and alleviate the burden of having to make constant adjustments to your price list for new products and retail pricing changes.
Apply to New Products
In the ON position
New products synced into Convictional will be added to this price list automatically. When the products are added they will automatically use the dropship margins that you established when setting up your price list.
In the OFF position
Newly created products synced to Convictional will NOT be added to this price list for dropshipping or wholesale. This indicates that any products you wish to sell will be manually added to the price list.
Ignore Product Updates
In the ON position
Updated products synced to Convictional will NOT be reflected in this price list for dropshipping or wholesale. It is important to note that having this in the on position will disable automatic pricing discounts.
In the OFF position
Retail price updates synced into Convictional will be reflected in this price list automatically. The updated retail prices will reflect the dropship and wholesale price discount you have established when setting up the price list. It is important to note that having this in the off position will enable automatic pricing discounts.
