How to configure your Smart Pricing
Go to your SaleFreaks Console - “Smart Pricing”.
Define your Profit Range.
Important: If you change the Profit Range here, it will be updated automatically on your Global Settings.
Define each field according to your strategy. Find below the explanation of each field:
- Days with sale – It means the quantity of days that you will wait to achieve the quantity of orders.
- Starting from – It means the quantity of orders that the Smart Pricing will wait to achieve for the same item to start increasing the price.
***Example: If you choose “Days with sale” as 1 and “Starting from” as 3, means that the Smart Pricing will only increase the price after you sell in 1 day, 3 different orders. If you have 3 orders in 2 days, in this case the price will not be increased.
- Price increase per sale – For each extra sale after the “Starting From”, Smart Pricing will increase the % (or $) as you defined, respecting the Profit Range and then stop to increase.
- Add-on bonus – It will follow the same filter that you defined for a regular item, but here you have the option to increase a price of an Add-on item with a different %.
- Days without sale – It means the quantity of days without sale that will be the trigger to decrease the price.
- Price reduction per unsold period – It will decrease the price each X day(s), respecting the Profit Range that you defined and then the price will stop to decrease.
The Advanced filter allows you to use the Smart Pricing defining a Profit Range by Price Range.
Smart Pricing sample with SOLD Items:
Go to your SaleFreaks Console - “Items – Items”.
Select an item SOLD in the last days and click on the Item.
Go to History and see the last time that the Item was sold. In this case the item was sold by $3.97
Clicking on Actions you will be able to see the Smart Pricing increasing the price after the item was sold $3.97 to $ 4.22, respecting what you defined on your settings.
Smart Pricing sample with UNSOLD Items:
Select an item UNSOLD in the last days and click on the Item.
Go to History and click on Actions. You will be able to see the Smart Pricing decreasing the price as you defined on your settings.