What are the pricing rules in Nembol?
Nembol’s pricing rules have 3 different features that help you manage your online stores more efficiently.
When bulk-listing on different channels, you can:
- Lower or raise prices by a given percentage
- Lower or raise prices by a given fixed amount
- Automatically round prices to the nearest .99 psychological threshold
The price adjust function is available for: eBay, Shopify, Etsy, Amazon, WooCommerce.
Remember: in eCommerce, competitive pricing is one of the keys to success.
How to create a pricing rule in Nembol
Pricing rule expressed as a percentage
Pricing rules allow you to manage your prices in bulk. They are the most effective tool for adjusting your prices across your various sales venues. Setting a pricing rule in percentage is extremely useful for sellers who use different currencies on different channels and need to adjust the price according to the exchange rates.
Creating a pricing rule is really simple. This is how you do it in Nembol.
- Visit the settings of your channel of choice in Nembol. You do this by clicking on the grey “setting” button next to a channel, in the Channels Tab
- Expand the “List to…” settings
- Next to the “Price rule”, open the drop-down menu and select “percentage” (screenshot below)
- Next to the option price-adjust, fill the blank applying the percentage you want to apply
Example: type 20 or +20 if you want your prices to be 10% higher.
$100 + 20% = $120
Example: type -15 if you want your prices to be 15% lower.
$100 + (-20%) = $80
Remember the minus if you want to apply a discount to your prices!
Remember: don't forget to Save changes.
Pricing rule as a fixed amount
With Nembol, you can set differentiated prices according to the target channel you want to list.
Indeed, to compensate for the high listing fees of certain channels or get some money back from your last ad campaign, you might need to label your product with higher/lower prices on a specific channel. To do it, you can use the pricing adjust feature and type the amount you want to price your products.
To set a different price, all you need to do is:
- Visit the Channels Tab, click on the settings of the channel you want to use different prices.
- Expand the “List to…” settings.
- Next to the “Price rule”, open the drop-down menu and select “amount.”
- Next to the voice price-adjust, fill the blank typing the price you want to apply.
- And Save!
Example: type 1 if you want your prices to be $1 higher.
$100 + (1) = $101
Example: type 1 if you want your prices to be $1 lower.
$100 + (-1) = $99
Automated rounding to .99
Additionally, using Nembol you can use the automatically round function, which rounds the resulting price to the nearest -.99 price.
To use it, remember to Switch ON the button next to the “Automatic rounding” function, and save! (screenshot below)
Nembol does this because buyers are used to psychological thresholds.
Example A: if your price in Nembol is 119.00 and you apply a 5% discount, the math gives you a price of 113.05. Nembol will adjust this price to 112.99.
Example B: if you list a product in Shopify with a +10 adjustment, its price will be 10% higher in Shopify than what is shown in Nembol, rounded to the nearest .99. If you then edit the adjustment from +10 into +8, that product price will not change immediately, but will indeed change once you make any edit in Nembol (you just have to open that product and save it again) or receive any edit from any connected channel, including inventory changes coming from sales in other channels.
Automated rounding to .99 for small prices
Automated rounding works especially well with prices larger than 10$.
On the other side, this function distorts price adjustments on prices smaller than 10$.
Example: $100 + 10% = 110$, approximated to 109,99$ — Works fine!
$2 + 10% = $2.20, approximated to $1.99 — Not really useful.
This is why we automatically deactivated it for all prices smaller than 10$.
Everyone can now get the best out of this function when listing multichannel.