You need to set your selling price (MSRP price as well if you like) for every product. HyperSKU has developed pricing tool to help you pre-settle product prices in bulk so you can focus more on business.
After logging into HyperSKU account, go to ‘Settings’ on the left-side bar then click ‘Pricing Rules’.
1. Pricing rules
a) You may choose either ‘Multiplier’ or ‘Fixed Markup’ rule:
Multiplier multiplies the original product price (the price you pay for). For example, a product which costs $5.00 with a multiplier of 10 would end up selling at $50.00 in your store.
Fixed Markup allows you to set a fixed amount added on top of the original product price (the price you pay for). For example, a product which costs $5.00 with a fixed markup of 20 would end up selling at $25.00 in your Shopify store.
b) You may apply pricing rules to all products or per original prices:
Basic Pricing Rules allows you to set universal pricing rules for all your products, regardless of the original price.
Advanced Pricing Rules allows you to set customized pricing rules for designated price ranges.
2. understanding ‘your product compared at’ price
An example makes it easier to understand: The ‘your product compared at price’ isn’t the real selling price; it’s crossed out next to selling price.
Please be noted that ‘your product compared at’ price should be higher than the selling price.
3. Assign cents
For example, the original price for a pair of jeans is 10.12 USD. You set markup pricing rules as ‘multiply 300%’ – the selling price is 30.36 USD.
Now you set assign cents rule as XX.99 – the selling price will be revised to 30.99 USD.
You are all set! From now on whenever you add a product to import list, the selling price will be automatically calculated. You can modify the selling price at Import List as well before uploading product to your store.
Tips: The selling price is the amount that your customer pays you; selling price minus any cost (for example, price you paid for the products, and advertising fee) leaves you with profit. Setting pricing is a very important strategy.