What happens to my store prices when my print lab changes its cost price?
Every once in a while, a partnered print lab updates its prices within Pic-Time. You can adjust your automatic Price Change Policy to decide how it will affect your prices when the lab increases their cost prices. By default, the system settings will keep your dollar markup amount the same. So, if the cost price increases, then the store price will increase to keep your markup the same (but the percentage markup will decrease). However, you can instead set your Price Change Policy to keep the same percentage markup or do nothing.
In this tutorial, we will go over how you can change the Price Change Policy. To get started, click Settings from your main dashboard.
Under the Store Settings tab, select one of the options from the drop-down menu under the Price Change Policy.
Update prices to keep % markup: when the cost prices are increased, the store prices will be automatically increased by your original percentage markup. This will raise your store prices AND your profit amount.
Update prices to keep $ markup: when the cost prices are increased, the store prices will be automatically increased by your original dollar amount markup. This will raise your store prices and your profit amount will remain the same. This means that your percentage markup will decrease, which is important to take into consideration when you’re planning sales campaigns!
Seeing Affected Prices
We notify our users of an upcoming price change through a campaign and by marking the affected prices in a red color within the system.
Please note: You can modify your prices manually, but if you have a price change policy set then the prices will be automatically updated according to your policy on their set date (even if you changed them manually). If you don’t want the prices to change through the policy you can set it to Do Nothing.