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Inventory - Scheduled Price Changes

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Using Retail Express you can schedule in advance any price changes to your product selling price, taking the stress out of preparing for sales and price updates. Prices can be increased or decreased by either a dollar ($) or percentage (%) amount, or to a whole value. Prices can even be rounded by whole dollars or a decimal.

In this article:

Available Price Fields

The price fields available for modification are as follows:

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Global POS Price The "POS Price (Inc Tax)" field on the Main tab of a product
Global Promotional Price The "Promotional Price (Inc Tax)" on the Main tab of a product
Web Price Used exclusively for web store integrations, found on the Main Tab
RRP The Recommended Retail Price, used as a reference only. The RRP field allows you to enter a Recommended Retail Price and display it (along with your price) on product labels or web store.
Outlet-specific POS Price The POS Price for an individual Outlet specified on the Pricing tab of a product. When configured, the POS Price field will be shaded in red. When sales are processed at that Outlet the Outlet-specific price will be used before a Global Price.
Outlet-specific Promotional Price The Disc Price Inc price specified on the Pricing tab of a product. When configured, the Disc Price Inc field will be shaded in red. When sales are processed at that Outlet the Outlet-specific promotional price will be used before a Global Price.

Note: If an Outlet-specific price has been specified, when adding a product to the sale at POS the Outlet-specific price is used before a Global price

If you have a web integration with Retail Express, when the price change takes effect this will update the product's "Last Updated" date, so the price is updated the next time the web store synchronises the product.

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Scheduling Options

When specifying a scheduled price change, you can configure the following options on how the price should be modified:

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Select Outlets

Displayed only if an Outlet-specific price has been selected, and is used to assign the Outlets where the price change will occur
Adjustment Details

Available Options:

  • Set Price To - allows you to specify the absolute value of the new price e.g. a $50 product with the "Set Price To" value of $45 will have the selected price field updated to $45 after the scheduled price change occurs
  • Set Markup Target % to - Available for the Master or Outlet-specific POS prices only. Enter a new Markup Target % to be used for the calculation of the new POS price (the final POS price will be calculated using the Markup Target % in conjunction with COGS - Cost of Goods Sold).
  • Set Price To POS Price Minus - Available for the Master or Outlet-specific Promotional Prices only. Used to calculate a new promotional price using the current POS price, minus a dollar ($) or percentage (%) value. 
  • Increase By - The difference in the price (not the final value). Can be set to either a dollar ($) or percentage (%) figure e.g. a $100 product with an "Increase By" value of 10% will be updated to have a price of $110
  • Decrease By - The difference in the price (not the final value). Can be set to either a dollar ($) or percentage (%) figure e.g. a $100 product with an "Decrease By" value of $10 will be updated to have a price of $90
Rounding (Whole Dollars)

Available Options:

  • No Rounding
  • Rounding To The Nearest Multiple Of - rounds the whole dollar portion to a multiple of this value e.g. entering round to the nearest $1 means a price of $12.50 would be rounded to $13.
Rounding (Decimals)

Available Options:

  • No Rounding
  • Rounding To The Nearest Multiple Of - Rounds the decimal portion of calculated prices to a multiple of this value, entered as a whole value e.g. entering "50" will round decimal prices to the nearest 50c; a price of $12.25 will become $12.50, and a price of $13.15 will become $13
Promotional Price End Date

Only visible if the Global Promotional Price option has been selected. Used to select the last day the promotion is valid.

Note: The promotion will start at the scheduled price change time
Promotional Price Date Range

Only visible if the Outlet Promotional Price field has been selected. Used to enter a Start & End date for the promotion (the End Date being the last day the promotion is valid). 

Note: The price and start/end date will be updated at the scheduled price change time, but the promotion will only apply as per the start date
Schedule Price Change For The date and time of when the scheduled price change will begin processing. Depending on the number of changes to be processed this may take a little bit of time.

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Scheduling a Price Change

To schedule a new Price Change:

  1. Navigate to Inventory > Scheduled Price Change
  2. Click Create New
  3. The Settings window will be displayed
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  4. Enter a Job Name (internal description for the changes)
  5. Select the Price to Change
  6. If you've selected an Outlet-specific price change, you will be able to select the Outlets by clicking the right arrow to move the required Outlets to the box on the right.
    Note: This field will be hidden if an Outlet-specific price has not been selected.
  7. Select the Adjustment Details from the drop down
  8. Select either the $ or % option
    Note: If using the Set Price To Adjustment Reason the % field will be unavailable as the price will be updated to the value entered (not adjusted by the amount)
  9. If you've selected an increase or decrease price change, select a Rounding option
  10. If you've selected a Promotional Price change, enter a Promotional Date 
  11. Select a date from the Schedule Price Change For field
  12. Click Next
  13. Use the Filters to select the products that should be adjusted
    Tip: If you want to adjust a specific list of products assign a Custom Attribute to the products, then filter the change by this Attribute to apply the price change
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  14. Click Save Changes
  15. The scheduled job will appear on the Scheduled tab
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