Price Book Overview

Have more questions? Submit a request
The Price Book is a comprehensive, time-saving tool designed to help stores efficiently manage and optimize their pricing strategies based on categories, brands, and item conditions. By simplifying the pricing process, it empowers you to enhance your pricing strategy, resulting in better organization and increased profitability.

For assistance with setting up your Price Book, please refer to the instructions below or watch the video tutorial provided at the bottom of this article. 

While the Price Book is an exceptionally powerful tool, its setup requires careful attention and sufficient time. We recommend setting aside adequate time for configuration and testing to ensure optimal results.

 

Important notes: The Price Book is available for the Standard and Professional subscription plans only.
 
In the use case that Price Book is enabled and you use AI Entry to add an item with Brand and Category already mapped there (and the AI also identifies them as such), Price Book pricing supersedes the AI pricing.
 

Instructions

Brands

Starting in the Back Office, navigate to Settings > Brands.

Here, you’ll find a list of all previously added brands. To add a new brand, click the +Add Brand button.

Tip: If you add a brand while pricing an item, it will automatically appear here. You can also add popular, important, and/or desired brands and edit existing brands. 

Once your brand list is clean, select the Price Book tab to begin setup.

Follow this order to build your Price Book.

  1. Setup
  2. Grading
  3. Pricing
  4. Reports

Setup

This is where you will define your grading system and create different levels. You can use any terms or grade names that suit your preferences. For instance:

Grade A - Luxury Brands (Chanel, Hermes, Louis Vuitton)

Grade B - Lilly Pulitzer, Ralph Lauren, Brahmin

Grade C - Chico’s, White House Black Market, Lululemon

Grade D - Loft, Banana Republic, 

Grade F - Walmart, Target, Old Navy (big box store) brands

You can create as many grading levels as needed to accommodate the range of items you manage. This structure reflects your specific vision for pricing and the guidelines you wish to follow. Once you have finalized the structure, move on to the Grading tab.

Grading

With your brand tiers in place, the next step is to assign each brand to the appropriate grade within the system. You can search and sort by both brand and grade.

As new brands are added during pricing, you’ll be prompted to assign them to a grade directly from the pricing screen. This allows the Price Book to automatically update as you continue to price items.

Pricing

Under the Pricing tab, you will see all available categories from the Back Office settings. To create a new price level, select a category from the dropdown on the left, then click the blue “Create New Pricing Level” link.

You don’t need to build a pricing structure for every category, and you can easily copy pricing levels from one category to another.

A price level can represent different item types within a category or reflect item conditions, providing a flexible way to differentiate prices.

For example, in an ACCESSORY category, a price level might distinguish belts, hats, and scarves, while in a TOPS category, you could define different types of tops and conditions. The Price Book serves as a guide tailored to your store’s trends, item values, consignor expectations, and demand.

If there’s a price level you use most often, consider setting it as your default for quick access.

For example, a TOPS category might include price levels for different sleeve lengths (sleeveless, short sleeve, long sleeve) and conditions (new, average, fair).

Reports

The final tab in the Price Book is dedicated to reports.

Running a Price Level by Category Report will generate a printable version of your Price Book, allowing you to review and make edits as needed.

The Brand Grading report provides a breakdown of all brands categorized by their grade.

Once you’ve completed these steps and feel ready, activate the Price Book to start using it. You’ll also have the option to edit pricing directly from the pricing screen.

After activation, your default prices will automatically populate based on the selected category and brand.

Video Tutorial

 

Articles in this section

Was this article helpful?
1 out of 1 found this helpful