Managing Product pricing and discounts

How to manage product prices and discounts.

In this step-by-step guide, you'll learn how to set up the different pricing aspects for your products. This guide will cover Price, Discount Price, Purchase Price, and Max Discount (%)

 Price:

• The price of the product is the base cost at which you intend to sell it.
• It's the amount your customers will see as the standard cost of the product.

Discount Price:

• If you want to offer a discounted price for your product, you can set a Discount Price.
• The Discount Price will be displayed in the product list and on the product page.
• The discounted price will usually appear in a different style than the ordinary price in the store, such as red text color for example.

• The Purchase Price is the amount you pay to your supplier or manufacturer to acquire the product.
• It's used to calculate the margin (profit) you'll make on each sale.
• Unlike the Price and Discount Price, the Purchase Price is not shown to customers.
• Accurately input the Purchase Price to ensure correct profit margin calculations.

Max Discount (%):

• The Max Discount (%) is the highest percentage by which a product's price can be discounted.
• This value helps you maintain control over the level of discount offered.
• It's used to calculate the potential profit margin when applying discounts.
• When creating marketing campaigns or promotions, the Max Discount (%) helps prevent excessive discounting.