Pricing Updates

 There are a few different things that go into the pricing of an item. 

Channel fees are the fees that each retailer charges to list items on their site. These fees vary depending on both the channel which items are being sold on, and also the category in which the item falls in. For example, Amazon charges 8% for items in the ‘Personal Computers’ category, but 15% for items in the ‘Tools & Home Improvement’ category. This means that if you are selling a laptop on Amazon for $200, an additional 8%, or $16, will be added onto the SRP, which means your laptop actually list for $216.

COGS (or cost of goods sold) is what the goods (or items) COST for you to purchase or acquire. Recovery can be configered to be your invoice price to each channel.  ARP is the actual retail price of the items, more commonly seen as the price the consumer will pay for the goods. SRP is the suggested retail price of the item; SRP is calculated using the following formula: SRP = recovery + fees. These terms and prices are all related to each other so it is important to know the differences between them. Recovery is the price you set your item to sell for, BEFORE the channel fees and optional shipping fees are applied. SRP is the final price your item is going to sell for. This price includes channel fees and shipping fees.

To update the pricing of an item, go into the Inventory tab on the left hand side of the screen, and search for the SKU that you want to update. When the search comes back, you will click on the item you want to update, and then the ‘Outgoing Feeds’ tab will pop up and you will be able to see all the channels which this item is selling on and what the prices are. You can either update the SRP or the ARP, keeping in mind the above information. If you update the SRP, the ARP will automatically update as well, and vice versa. Make sure to save all changes as soon as you update pricing, otherwise it won’t actually update. Once you are done updating pricing on whichever channels you want, scroll down and hit ‘Save Changes’ to save.