In this article, you'll learn:
- How bulk changes to retail prices works.
- How to create a bulk retail price change.
About Retail Price Changes
A retail price is the product's base, non-discounted price that a shopper pays when purchasing the product. Price changes help shops change or update the retail price of items as needed.
For example, a shop might change the retail price for a product because the wholesale price changed and the shop wants to maintain its margins on the product.
With CommentSold, shops can easily correct errors, complete markdowns, or run sales on selected collections with a retail price change. Rather than adjust the price of each product individually, shops can do a price adjustment for products in bulk.
How Retail Price Changes Benefit Your Shop
- Save your team time by completing markdowns in bulk.
- Quickly respond to inventory changes with bulk product price adjustments.
- Correct pricing errors for collections or groups of products at one time.
- Apply a set margin to collections to ensure your profit margins are in line with shop goals.
How Retail Price Changes Work
When you create a retail price change in CommentSold, you choose which collections to include in the change and define the change amount. Price changes take effect immediately and remain in effect until you choose to revert the retail price change to the previous price.
Once a retail price change is active, you cannot edit it. You would need to revert the price to the previous retail price and make a new adjustment.
While a price change is active, the new retail price will appear on the product's record. If a product variant is included in multiple collections, then the retail price will reflect the most recently created price change.
Shoppers can still apply coupons to products and collections with retail price changes.
Create a Retail Price Change
- Select Products in the side menu of your CommentSold dashboard.
- Select Price Adjustments in the menu at the top of the page.
- Select the Retail Price Changes tab, then select Create Retail Price Change on the right side of the page.
- On the next page, complete the following fields:
- Name. Enter a name for your retail price change. (e.g., Spring Collection Markdowns, Holiday Price Adjustments, etc.)
- Action. Select the type of action you wish to apply to selected collection products’ current retail price from the drop-down menu.
- Increase by Percentage. Add a specific percentage to the included products’ retail price (e.g., add 15%).
- Decrease by Percentage. Subtract a specific percentage from the included products’ retail price (e.g., 15% off).
- Increase by Amount. Add a specific dollar amount to the included products’ retail price (e.g., add $10).
- Decrease by Amount. Subtract a specific dollar amount from the included products’ retail price (e.g., $10 off).
- Set Specific Amount. Set products to a specific flat price (e.g., all products included in the sale are $5.00).
- Set Margin Percentage. Set products to automatically yield the same specified margin percentage. (e.g., 65% margin).
- Value. Enter the percentage amount, dollar amount, or the specific price for included products.
- Rounding Rule. Select the type of rounding to apply to selected products after the retail price change amount. Rounding rules apply to adjusted products as follows:
- Do Not Round. No change to the product price after the retail price change.
- Up to the Nearest Dollar. Product price rounds up to the next highest dollar amount (i.e., $14.35 becomes $15.00).
- Down to Nearest Dollar. Product price rounds down to the next lowest dollar amount (i.e., $14.35 becomes $14.00).
- .99. Product price will end in .99 (i.e., $14.35 becomes $14.99).
- .95. Product price will end in .95 (i.e., $14.35 becomes $14.95).
- .50. Product price will end in .50 (i.e., $14.35 becomes $14.50).
- In the Selected Collections section, select Add Collection to choose which collections you wish to include in the retail price change.
- Use the Search field to search for collections by name.
- Select ADD + to the right of each collection you wish to add to the retail price change.
- Once done, select the X in the top-right corner of the pop-up.
- Select Create Retail Price Change in the bottom-right corner of the page.
A notification banner will appear once CommentSold has made the retail price change on the selected collections.
- Revert a Retail Price Change. Learn how to reverse a retail price in order to make corrections or restore the price to the previous retail price.
- Create a Scheduled Sale. Learn how to schedule a sale to run automatically.
- Create a Coupon Code. Learn how to create a BOGO coupon, a dollar amount discount coupon, a percent off discount coupon, or a free shipping coupon.