Minimum & Maximum Prices

Minimum and Maximum prices are the pricing guards that tell WisePricer your pricing limits.


WisePricer will never price below your minimum price, or above your maximum price!

Minimum Price – Required:

Minimum price should be the lowest price you are willing to sell an item for. For example, if you sell on Amazon, the minimum price should include your cost, Amazon fees, and your minimal desired margin.

We recommend using a bulk CSV upload to setup your minimum and maximum prices for the first time. Here’s a tutorial (CSV Import/Export)

Minimum price can also be calculated and applied in bulk from your current price.
Simply click on the Actions Menu > then select ‘Set Min/Max Prices:

You can set your minimum price as a percentage off of your current price:

 Click ‘Continue’  

Price Guard

Another way to calculate a minimum price barrier is to enable a price guard above your cost. This will ensure that WisePricer will never price below a certain percentage or dollar amount above your cost (if your cost changes, the minimum price will change dynamically).

 

Simply go to Settings:

 Under Price Guard, check the box ‘Keep My Price’. Setup the percentage or dollar amount, and click ‘Save Changes’:

Maximum Price – Recommended:

Maximum price is not mandatory but it is recommended as a precaution. Some competitors, when they notice that repricers are being used on their products will try to drive your price up.

For example, competitor A is out of stock on a certain product that you sell. Instead of pulling it off, or marking it as out of stock, they will increase their price significantly to avoid any sales.

Since you are tracking their price changes, you will increase your price accordingly to adjust to the market conditions, thereby pricing too high for the product and losing sales.

The solution is to set a Maximum price, which is the highest price that WisePricer will ever price your product.

 

We recommend using a bulk CSV upload to setup your minimum and maximum prices for the first time (how to import/export a CSV file)

Another way to setup Maximum Price in bulk is via the ‘Actions’ menu.
Simply click on the Actions Menu > then select ‘Set Min/Max Prices:

 You can set your maximum price as a percentage above your current price:

Click ‘Continue’

 

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