You may want to increase or decrease the price of an item in an inventory feed. For example, to add an additional margin to cover the foreign exchange rate. Or, increasing to build in a shipping cost into the price of the item. In this article, we'll explain how you can accomplish this within Onport.
How to set this up
In order to apply a markup, you'll need to go to the inventory feed settings > Inventory and Prices tab:
You have the option to increase/decrease by either a fixed or a percentage.
Most of the time you'll want to base the increase on the retail price the vendor provides. However, you can also use this to increase a percent or a fixed amount from the cost price. For example, if you are looking to set the retail price from the wholesale price provided by the vendor.
When saving these settings - changes will only take effect once prices change in the vendor stores. So, no changes will be immediately applied to the current prices in your store.
To ensure those existing prices are immediately updated, there is a "sync retail prices" button. These changes may take a short time to take effect, as the prices are updated in bulk as a background process.
Impact on commission price
The commission amount paid out to vendors will always be based on the price of the item in the order, not the inventory feed. For example, if there is an item for $100 and you increase the price to $110, by setting a 10% uplift. With a 20% vendor commission, the vendor will be paid 20% of $110, not 20% of $100.