Price Suggestions

You can check this video to know more about how to review your Dynamic Pricing strategy and see if it is working as you intended to:

From the Pricing Suggestion page you can filter by several criteria:

• All products

• Suggestions provided by the system

• No suggestion

• Price increase suggested

• Price decrease suggested

• Products that are being fixed at a limit by the minimum margin

• Products that have been discarded from dynamic pricing

• Dark column on the left shows your current margin

• Column in green on the right shows the suggested margin after recalculating prices from actions created

You can get a more global view of brands and suggestions within those:

You can also get to see the full list and specific products:

What is the logic behind the pricing suggestion?

By clicking on any product of this list, the corresponding product detail page will open up. You will get to see the Dynamic Pricing tab of that product in particular, divided in two main sections:

• Grey line: The cost price that is provided in your product feed.

• Dashed line: The price that matches your minimum margin.

• Black square: The situation of your product in the market.

• Black straight line: The price recommended by Netrivals.

• Blue dots: Show the rivals and their prices.

• Red dots (if any): Show those competitors that have been discarded from Settings, and you’ll also be able to see if they are out of stock.

This second section shows the history evolution of recommendations provided by Netrivals’ Dynamic Pricing Module:

• The suggestions are divided by date and appear in descending order.

• On the left, you can see your current price, as well as the percentage and amount of profit margin obtained with that retail price.

• On the right, you can see the price suggested by Netrivals, the percentage and amount of profit margin you would obtain if you applied that suggestion.

• If you click on Details, you will see what rules have been applied to calculate that specific price suggestion. Likewise, here you’ll find why some products that have not yielded any price suggestions.
  
  

Recalculating and applying repricing suggestions

You need to recalculate suggestions every time you apply changes to your current strategy or when you enter any new rules in the system. 

You can do so from the Pricing Suggestions page or the Strategy Editor, both in the Dynamic Pricing section.

 

 

Once you’ve done so, you can download suggestions via CSV or API from the Pricing Suggestions page in order to apply changes on your store platform.