As a default setting, Modalyst automatically updates the pricing on your store, based on the Pricing Rules, when a Supplier edits the item cost.
For example, let's assume the following:
Original item cost: $10.00
New item cost: $5.00
Pricing Rule Multiple on Modalyst: 3x
If a Supplier lowers the original item cost from $10.00 to $5.00, the product price on your store will automatically reflect this change. The Pricing Rules will automatically apply to the new item cost of $5.00.
In the example above, when the item cost was $10.00 with a 3x multiple assigned to it, the product price on your store was $30.00 ($10.00 x 3). After the Supplier lowers the item cost, the new product price becomes $15.00 ($5.00 x 3).
However, if you prefer not to have your prices fluctuate, we offer a "Lock Product Price" feature.
When prices are "locked," prices will not automatically update when a Supplier makes an adjustment on Modalyst. In following, the prices that you have on your store will never change (unless you manually change them in the Import List or directly on your store.)
When prices are "un-locked," they are synced with Modalyst / Wish Item Costs so pricing will automatically update (with your Pricing Rules applied.)
You can see the "Lock Product Price" feature in your Import List under the Pricing & Profit tab.
The feature is also available in your Sync List.
What are some scenarios where this applies?
- When you switch on the "Lock Product Prices" (in either your Import List or Sync List), this will lock all variants of that product. Therefore prices will not be synced and will not adjust if Suppliers make changes.
- If you make a pricing adjustments in your Import List to at least 1 variant of a product, all variant pricing will be locked and you will see the lock feature automatically switched on in your Lists.
- If you make a price adjustment in Shopify / Bigcommerce to at least 1 variant of a product, all variant pricing will be locked and the lock feature automatically switched on in your Sync List.
What happens when you release the price lock for a product?
Variant prices in Import and Sync Lists will be automatically updated with values by taking current Item Cost on Modalyst / Wish and applying your Pricing Rules.
Variant prices will be automatically updated in your Shopify / Bigcommerce stores.
Did you add products to your Import / Sync List before you adjusted your Pricing Rules?
In general, Pricing Rules apply only to new items added to your Lists. However, if you have items already in your Import / Sync List and you want your Pricing Rules to apply, you can lock and then un-lock the prices and you will see the prices adjust according to your Pricing Rules.