Why minimum and maximum prices are very important ?
In order to automatically adjust your prices according to your competitors, you need to define a minimum and a maximum price.
These two price limits help our robot to know :
- At what minimum price you agree to sell your product
- At what maximum price you agree to sell your product
These two prices are very important:
- Minimum price: You don't want to sell a product at too low a price because under a certain selling price we won't earn enough money
- Maximum price: You don't want to sell a product at too high a price because at a certain price your product will be too expensive and nobody will buy it
These two prices are defined for each of your products individually. At each price optimisation, our robot will use these two prices to adjust and optimise your price according to your competition.
Ways to define these price limits:
Define by Global strategy
To find out more about how to change global strategy, see this article : How to define my minimum and maximum prices through the general strategy ?
Define on the product sheet in the interface
To find out more about how to update product price bounds from interface, see this article : How do I change my minimum and maximum prices product by product in the interface?
Define via file import (This allows you to make mass adjustments to your catalogue)
To find out more about how to define price bounds by import, see this article : How to define my minimum and maximum prices through file import (Bulk) ?
Unlock your online store's potential
Whatever your e-commerce business, discover how to streamline your operations and boost your business growth with Boostmyshop.