The cost of the product and decoration is always included in the purchase price your customers pay, even if you don’t adjust pricing before launching your store. Your base markup percentage is included as well. You can add additional markups to any products in your catalog at any time to increase your profits.
You can modify the pricing of all the products in your catalog at once, modify pricing for groups of products, or modify pricing for an individual product.
Pricing can be adjusted by percentage OR by dollar amount. For example, if you’d like to add a 10% markup to all products in your catalog to add to your profits, you can do so. However, if you prefer to structure your markups by adding $1.00 to the sale of every product, you can do that as well.
Pricing can be managed at any time by clicking My Shops, navigating to the shop in question, then selecting Products in the left navigation menu.
Creating Markups:
To add markups for all products in your filtered view, Click Modify Product Pricing or to create markups for selected products, click Modify Selected Product Pricing.
Next, you’ll enter the dollar amount or percentage markup you’d like to add to the products in question.
Note: Percentage markups are calculated based on the current list price. For example, if your base margin is 30% on a $17.95 product and you add a 10% markup, an additional $1.80 will be added, bringing the list price to $19.75.
After adding your markup, click Save Changes at the bottom of the page.
Your markup has been saved and is now applied to the selected products.
Reviewing and Editing Markups:
You can review the markups you’ve created, modify them, or delete them at any time from within the Product Configuration menu at the top right of the screen.
Click the Product Configuration Icon to review your markups – we also call these pricing rules.
After a Pricing Rule has been created, you can review it or click the Edit or Delete buttons to the right of that particular rule.
Applying Price Rounding:
From within the Product Configuration menu, you can also apply Price Rounding to all the items in your shop. For example, if you want all products in your store to end with a $0.99 price, you can create that rule here.
To do so, click Adjust Price Rounding
Modify the cent amount – this will ensure your product prices all end with the same number (.95, .99, etc.) when your customer is viewing products in your shop.
This will be achieved by adding markup on top of any previous markups you may have added, increasing your profits.
You can add new product or pricing rules, modify rules you’ve created, or delete any rules you’ve created from this menu at any time.
Important: All pricing rules are cumulative — each new rule is applied on top of any existing rules. This means you can apply a markup to your entire shop and then stack additional markups on specific products or product categories.
For a step-by-step guide on sharing profits with a payable, see our Sharing Profits with a Payable tutorial.