The Price Updates module maintains Retail Prices for products where the Retail Price is based on an Expected Mark-Up

The retail price of these products should be increased each time the cost price is increased. For instance, once the IPU update is run – and many cost prices have been changed - then the retail prices of these should be changed based on the new cost price and the set mark-up percentage.

The Touchstore system manages the Retail Price maintenance of these products with the use of a value called the Expected Mark-up Percentage. An Expected Mark-up % greater than zero is assigned to all such products.

The system works as follows:

• Cost price and Expected Mark-up % - together produce an Expected Retail Price.

• Change the Cost Price of a product. This change together with the Expected Mark-up % - now produces a new Expected Retail Price.

The system compares the Actual Retail Price with the new Expected Retail Price

You change to the new Actual Retail Price if there is a significant difference.

The Expected Mark-up % can be quickly set for ranges of products through the Product Update menu option

How to Update Retail Prices

• Login to Retail 365

• Press the Price Updates button

• The below screen will then be displayed to you

• You can filter by a certain supplier by using the below dropdown OR leave blank to load all products based on the threshold chosen

• If you wish to only display products with a retail price less than the expected threshold tick the following:

• Add the threshold - the difference between the retail price and the expected retail price ( e.g 0.05 will display differences greater than 0.05 )

• Press Load Products

• This will display the product list

• The list displays the product(s) Current Cost, VAT, Markup, Retail, and Expected Retail

• Touchstore will generate the rounded Retail, you can go ahead and update your product(s) to this retail OR you can manually update this yourself

• Select the products you wish to update to the expected retail price - To select all products tick the box left to Product

• Press Update Retail Prices

• If the update is successful you will get a message informing you.

• You will also get a prompt asking if you wish to print labels for the updated items.