Manage Price Changes with Default Discount Percentages
You may be familiar with the Price Manager tool in Retail Pro. The Price Manager allows you to change prices for every item in your inventory quickly and easily. Increase all of your prices by 5% or mark down your inventory for the big weekend sale – all it takes is a couple of keystrokes to adjust your entire inventory.
Did you know you can also create multiple price levels for your inventory? Use can set unlimited price levels to create:
- A pricing structure for different parts of your business
- Various prices for stores in different geographic locations or for different customers
- VIP or employee pricing structures
- A wholesale price level to sell direct to other businesses.
With so many price levels, you may be worried that updating your prices will create a monumental amount of new work for you. As easy as it is to change prices for one price level, won’t it take time to change prices for all of your price levels?Not when you are using default discount percentages. This tools in Retail Pro lets you update all your price levels instantly.
How to do it in 3 easy steps
1. Set up default discount percentages in the pricing area of your Retail Pro settings (System Preference → Local Preferences → Merchandise → Pricing → General).
2. Set the Default Discount % amount to the discount below your active (base) level. There’s just one rule that you must follow when using default discount percentages: Each of your discount price levels must be less than your base level.
3. Check the Use Default Discount box for all price levels you want to automatically change.
The next time you use the Price Manager to change your base prices, all the price levels using default discount percentage will be changed automatically.
Let’s practice
Let’s say you offer your VIP customers a 20% discount on anything you sell. How would you do that in Retail Pro?
Set up a new price level for VIP customers and set the prices to 20% less than your basic inventory cost. Then set your default discount percentage to 20%.
When you use the Price Manager tool to update your basic inventory cost, your VIP prices are automatically adjusted without having to do anything else.
