ChannelMAX "Sales Velocity" repricing strategy is ideal when you want to control the prices of your items based on the quantity (of that item) sold or unsold in a selected period of time. This strategy is very useful for items that you have no competition with, or you are the only seller, either because it's your own brand and other sellers are sold out. We can set up this strategy in 2 ways, either at a repricing model level or at an SKU level. The most common way of setting up this strategy is at the repricing model.
A) How to set up Sales Velocity based Repricing at Repricing Model-level?
You need to navigate to Settings-->Repricing-->Repricing Model and click on the "Sales Velocity" tab, set the Sale Velocity Repricing rule to Yes. This repricer strategy is based on your targeted sales quantity (value to be defined under 'Sale Needed' column), a defined time interval ('In Last' column) and if the target is met, repricer would raise your price from the last sale price, by the value defined under "If happens, raised by" and if the sale target is not achieved then the repricer would start lowering the price by the value defined under "If not happens, lower by" field.
Note: If you enable Limit To Listings with NO competition(this includes private label items) this sales velocity repricing strategy will be applied to the SKUs without competitors only.
As per the settings shown below, if you configure 'In Last' column value as 6 and the 'Sale Needed' column as 2, repricer would look for the past 6 hours sales log to capture 2 sales quantities. If this target is met, repricer would start raising the price by 3.5% from the last sale price and if the sale target isn't achieved, repricer would start lowering the price by 0.5% from the current price in order to see at what price you get a sale.
B) How to set up Sales Velocity-based Repricing at SKU-level?
Here is an alternate way to configure sales velocity in ChannelMAX at the SKU level. Please note it is rarely used.
Open Google Chrome or FireFox
Login to selling.channelmax.net
Click on "Repricing"
Search by SKU or ASIN
Mouse over Min or Max column, click on the pencil icon to view Q500 panel
Here click on Sales Velocity tab
Choose 'Set Own Target' from the drop-down menu
Next, choose the desired time intervals under 'In Last' and 'Sale Needed' columns and enter the desired percentage/amount in the text field under 'If happens, raised by' and 'If happens, lower by'
Finally, click on Save.
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