Price is the basic entity of ecommerce stores about which e-merchant have to care about. It is important due to the following reasons.
- Based on prices of products you can earn or loss for your store.
- It is the first thing about which you have to think before making or launching a new product.
- When you launch products, you have to analyze the market prices constantly and if you think that price update is necessary, it should be done at priority basis.
Above mentioned points shows that you need to have analyze the produce prices and change them frequently to cater with the competitors.
Why Bulk Price update is Difficult?
All is fine up till now, but the problem arises when you think that a lot of products need price update. The possible solution which you probably think is to go to the product pages of each products and update the price but this is not possible in reality specially when you have hundred or thousand of products in your stock. At this point, I want to ask you one question, which shopping cart you are using PrestaShop, Magento, Shopify etc. For generalizing, I am giving solution for PrestaShop, although the methods of price update are different for different stores. PrestaShop by default don’t allow changing the prices in bulk. However, you can make use of plugin like Mass Price changer in Presta that allows you to change the prices according to product categories. Although you can change the prices based on single products through this plugin. Another feature of this module is that you can increase or decrease the prices by a fixed amount or percentage value.
When mass price update is needed?
- Season Change
Generally, mass price update plus is needed with season change. Whenever, season changes it needs adjustment in the prices. For example, coat and jackets prices are low in summer but high in winter.
- Special Events
For special events, prices should be changed accordingly. For example Christmas, New Year, Easter and other events needs to be reduced prices.
- Sale for old Stock
If you want to sell your old stock at lower prices, then bulk product price update is must.
- Price change by manufacturer or supplier
If manufacturer or supplier of your store’s products increase or decrease the prices, bulk price is needed for this purpose.
- Government Taxes
If government increased or decrease the taxes on shipping, bulk price update can be helpful.
- Price change by competitors
If your competitors change the prices of products, or if you think that your prices are not according to present market demand, you need to revise the prices in bulk.
All the above discussion shows that price update for Presta stores in how much important. Following the guidelines of this article, you not only can update the prices in bulk but also you can manage your inventory in a better way.