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Markup Pricing offers stores the ability to set pricing markups for products at the Department level, making it easy to set them individually or in bulk. Markup pricing is based on the product's Default Cost and affects the Price of a product (if products have conditions it only applies to the Brand New condition price).

You can set Markups by going to Settings > Features and then on the left side click Pricing. You'll see Markup Pricing below the Website Pricing functions.

To add a new Markup click the Add Markup button in the upper right, pictured above, and a window will open for you.

 

How to Set a Department Markup

1. Set the Markup based either on a Markup Percentage, or on a Margin Percentage. You'll notice that when one is entered the other updates automatically.

2. Choose a Department to which the Markup will apply.

Please Note: A department can only have one markup assigned to it but a markup can apply to multiple departments.

3. If needed, set Rounding for the Price from $0.001 up to $1.00. In the example box at the bottom of the modal you can see an example of how prices would appear by adding a default cost. Also notice that the rounding price can be set by typing in the field or by using the + and - buttons to increase or decrease the price by $0.01.

Example: After configuring the Markup, the final price is $300.00. Let's say that you want your product prices to end in $0.99. In this case the user can use the rounding options and configure the rounding value to 0.99. In the example above, we round up to the closest $0.99, resulting in a final price of $300.99. If we round down, the price would have been $299.99. The example at the bottom the window is dynamic and will show the you these examples as you make changes to the input fields.

Because there are many different products with different prices within a single Department, the example only shows how a single product would appear. Please use the Example area as a guide. Prices can be very competitive in certain industries and in that case you may want to review the individual prices of those products and adjust accordingly.

After configuring the Markup, click the Add button. You will be asked if you want to apply the markup for existing products within the selected department or if you want to apply the Markup to future products. If you choose Update price for all existing products in selected departments, products in the Markup's assigned Department will have their prices automatically updated. If you’re creating a Markup for future products, use the Do not update price for existing products option. When you create new products in the Markup's assigned Department you will have the opportunity to add the Markup in the product page itself, discussed below. Make your selection and click Done.

 

Updating Markup Price on the Product Page

The Markup Pricing feature applies when updating Default Cost on the Product page. If the product is assigned a Department with Markup Pricing, whenever you add or edit Default Cost you'll be asked if you want to update Price according to the Markup. Serialized inventory with condition levels (e.g. Brand New, Used, etc.) will only update Prices for Brand New items if you use Markup Pricing when you add or edit Default Cost. If you're updating Default Cost for multiple locations or multiple variants, you will be able to update the price for those options as well. These options are listed after clicking the Apply To button below the field, as pictured here.

After selecting an option for the Default Cost update, you will be asked if you want to update price based on the Markup setting for the product's Department.

Please Note: Markup will be applied and the price will update based on what you selected for the Default Cost. For example, if you selected to update Store Locations, only the price for each Store Location would update but variants would not update. If you updated the Default Cost for Variants and Locations, the price would update for all locations and all variants.

 

Updating Markup Price on Purchase and Receiving Orders

You can update the Cost and apply markup prices on Purchase Orders and Receiving Orders. The Update Default Cost button is found under the Unit Cost field and includes options for Location and Variants depending on how you have set up the product. The pop-up to update markup price is similar to the one on the Product page pictured above and uses the same functionality when you click Apply.

 

Updating Markup Price in Bulk Actions - Edit Products Feature

Another area that is impacted by the new Markup Pricing feature is under the Bulk Actions menu of the main Products list page. The two options impacted for bulk editing are Departments and Default Cost.

 

Departments

Because a product and all of its variants and locations are under the same Department, there won't be an option to select an update by department or variant as shown in previous example of this document. When you finish your Department change and click Update Products, a popup will ask you if you wish to apply Markup Pricing to the products for their new Department.

 

Default Cost

When updating Default Cost there may be multiple locations or variants for the product. Changes made in this area will update all variants for the active location only. You will not have a choice of locations and variants. If you need to apply changes to a different Location, you can change it at the top of the Filters window.

Edit Products under the Bulk Actions menu. First, check the boxes for the products you want to edit, then click Bulk Actions > Edit Products and you can go to the area you want to adjust:

Choose the area you want to edit, either Department or Default Cost, if you need to do both you can do so before updating the products. Choose the first one and set it the way you want and click Save (this will only save it for that area):

After you save, you'll see that item and the change that will be made, and you can choose and set the other like this:

You'll see at the bottom how many products are being updated. Click Update Products to apply the changes, then you'll be asked if you want Markup Pricing to be applied along with the other updates.