2.9 Pricing rules

Introduction to Pricing Rules

0:00 Next up, moving on from item defaults, pricing rules. So there is another setting called pricing rules over here.

Setting Up Markdown Rules

0:09 Here, you can set your pricing rules or markdown rules. Stores might want to markdown their items over time if they don't sell. You can add those rules over here. Let's create our first one.

Creating Furniture Markdown Rule

0:20 And we call this one furniture markdown rule. Furniture markdown, okay? You can apply rules to specific product categories or attributes, okay?

Applying Rules to Categories

0:39 So for example, only for products that have a furniture type, or more likely, only for products that are in the furniture category, okay? Can I apply to all furniture? Let me see. Sorry, electronics. Furniture. Oh, you would have to select them all individually. That's horrible. Let me change that. Oh no, you can't. Okay, got it. Categories, I'm sorry. I'm figuring this out with you guys. Furniture, boom. Oh, that's how you do it.

1:20 Okay, I'm really sorry. I'm really sorry about it. So you can apply those rules to specific categories, specific tags, or you can exclude items from this rule,

Setting Discount Schedules

1:32 or you can apply it for specific price ranges, for example, you decide. You can also set a schedule. So for example, you want to reduce by 10% after 30 days and 5% after another 30 days or 60 days, okay? And then you can say who absorbs the discount. Let's say you are a consignment store and any markdown is absorbed by the consignor only or by the store only, you can decide that. I'll leave it share. So discount is applied to both of our shares in the payout.

2:07 Okay, then you create the rule

Inheriting Markdown Rules

2:10 and then any product created in the future that falls under the filters that I entered, in my case, it's for furniture categories only, will inherit this markdown rule. I noticed an error over here. It says that this rule is applied to all products. That's wrong. It's actually applied to the furniture category only, okay? You can create as many rules as you want and you can turn them on and off at any point.

Customizing Pricing Rules

2:40 This is how pricing rules work. They can be applied over time at different levels based on the time ranges you specify. They can be applied to only specific products and other customization options, as you've seen. All right, moving on to the next sub-module.