Retail Pro V8

Pricing & Markdowns

Setting Prices and Margins

The price of merchandise is normally set either at the time the order is placed or when goods are received and ticketed. Retail Pro knows the cost of goods from the P.O., and when the retail price is entered, it will insert the correct margin %; or vice versa. Desired margin levels can be entered for entire departments or classes of merchandise, and the system will thereafter suggest the appropriate retail prices without further prompting.

Variable Price Levels

Often different sites in the same chain require different price levels because of local conditions or sales. Retail Pro provides the use of up to 240 different price levels to accommodate these conditions. Alternate pricing levels can also be set up for employees, preferred customers or wholesale accounts. Use of these pricing variances are fully recorded for reports, and the effects on maintained mark-ups are exactly tracked.

Markdowns and Planned Pricing

The Markdown module can mark prices up or down, by amount or percentage, and can round prices by pounds or pence. It can print special markdown reports and generate markdown tags, as well as restore prices to their earlier level.

Planned pricing is a merchandising tool in Retail Pro used to establish up to four price changes in advance for any group of items. For example: graduated price reductions in the last weeks of a season.

Package, Kit and Quantity Pricing

Retail Pro can support quantity pricing - such as "3 for £10.00" - when the price of an item changes by the quantity purchased. These price levels are established in the back office and take effect automatically at POS. Special pricing can also be set for kits or packages of goods containing pre-designated items, where the price of the kit may be less than the sum price of all the parts.