- This article will cover the functionality and importance of setting minimum and maximum prices in your SellerActive account
To effectively manage your prices within SellerActive, you must establish upper and lower price limits for each item. Setting a minimum and maximum price (or a dynamic minimum and a dynamic maximum) will ensure your prices never drop too low where you are not generating a profit or raise too high where buyers will not purchase your products.
When you initially set-up a new integration with SellerActive, your current selling price on the marketplace will be imported into SellerActive as your minimum price. In most cases, this is not your true minimum price so you will need to adjust this field so that is it accurate. You can edit your minimum or maximum prices at any time in the Pricing Manager or via a file upload.
- If you do not adjust your minimum price after the initial import then your pricing strategy will not have the flexibility to lower your price to compete against your competitors when needed.
- SellerActive does not import or overwrite your minimum and maximum prices that have been set directly on the marketplace. You will need to ensure your mins and maxes in SellerActive are the same (or within the range) you set on the marketplace. Otherwise, you run the risk of having your listings deactivated if your price is ever outside the range you've set directly on the marketplace (but still within the range you set in your SellerActive account).
Dynamic Maximum and Dynamic Minimum
In lieu of calculating your minimum and maximum prices manually, you can use our dynamic minimum and maximum price feature which will automatically calculate your mins/maxes based on a few different variables of your choosing (see below). Then you can add an additional modifier as a buffer.
Variables that can be used for Dynamic pricing
- Cost + Fees
- This is specific to Amazon Pricing Strategies.
- These fees are imported over time based on when Amazon provides the financial details
- MAP Price
- Retail Price
- You can add a positive or negative multiplier against a dollar amount or percentage.
The Dynamic version of these values are established within each Pricing Strategy. You can determine what variables you want to drive these prices. These variables need to be added by hand into our system to work as intended, and if you select a value that is blank within the system, we will default to your manually established Maximum/Minimum Price (and that value will appear in the respective Dynamic column).