Simplify price management with our new Price Lists App.
Scale can end up complicating very simple things for a business. Take pricing, for example. Smaller operations with a limited product catalog likely have an easier time setting prices for their products. Typically, it’s one market, one currency, one localization, etc. But larger enterprises have many factors to consider when pricing their SKUs: Where is it being sold? Who is buying it? Is the product in-season everywhere? The list goes on.
Nearly every other commerce platform in the market requires their customers to connect prices directly to their products inside their product catalog management tools. When more complex issues arise like different prices in different markets, it can be difficult for these platforms to solve for them. In Commerce Layer, we separate our Price and SKU objects and connect them through Price Lists. This way, it’s easy for brands to assign base prices for different markets, customer groups, or even assortments. With our new Price Lists App, it’s even more effortless to manage pricing in our platform.
The Price List App
Commerce Layer uses Price Lists to store prices and assign them to different SKUs within a market. Every market in Commerce Layer has to have a Price List, but Price Lists can be assigned to multiple markets. You can find the Price List app in our Products section of our Dashboard Hub.
The app can create new Price Lists or edit an existing one. Simply click “Add New” to create a new Price List. Then, name your new Price List, set its currency, and determine whether the prices include taxes or not.
Click on “New Prices” to set a new price on a SKU. Once you select the SKU, you can add two prices. The first is the actual price of the SKU. The second is the original price that will be used as a comparison. For example, you might offer a shirt for sale at $15 instead of $20.
The app also enables volume pricing tiers and frequency pricing tiers. Implementing either tier is simple. Let’s say you want to implement a lower price for an order of 3 SKUs at once. It’s a great way to increase your AOV and boost revenue. Click on “Add tier” on the “Volume pricing” section.
We recommend creating a naming convention for the tier so others understand the purpose. Select the quantity that will activate the pricing tier, in this case it’s 3. Give it a price that will get set when a customer adds the selected quantity. The click “Create” and you’re done.
Setting frequency pricing is just as easy. Let’s say you want to set up a special price for customers who purchase SKUs on a certain cadence, like subscriptions. Click on “Add tier” on the “Frequency pricing” section.
Same drill: name the tier something that will be a good reference. Select the frequency you want to set. If you want to set a custom date beyond weekly or monthly, just scroll down and select “Custom” and determine your frequency. Put in your designated price for this frequency, click “Create” and your frequency pricing tier is set up.
Make price management a breeze
We designed the Price Lists app to be as simple and straightforward as possible. Merchandisers or ecommerce managers can quickly add new SKUs onto the storefront. They can also adjust prices according to demand. They can even bake in discounts based on frequency or volume to encourage more orders. The beauty of our Price Lists App is it only takes a few clicks to manage such a critical pillar of commerce.
We’d love to hear your feedback on the Price Lists App, as well as all of our recent dashboard releases. If you have any feedback, join the conversation on Slack.
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