In this article, we're going to look in detail at the Volume Funnel of the Sales Rule, if you'd like a general overview of Sales Rules you can find that here.
Note: Sales Rules are currently only available for Amazon but are coming soon to other channels.
What are Volume Sales Rules & how do they work?Volume Sales Rules are triggered based on the total volume of sales during the selected period. For example, if you had more than $450 sales over the past 7 days. When a Sales Rule runs, it will look at your chosen Ranges, and if one applies, Repricer will apply the price change you have set.
By increasing your price when sales are high or decreasing your price when sales are low you can target how many units you'd like to sell and have your price adjusted to the right level. You can even add up to 20 different ranges to your rule. Let's take a look at the options you can set and what each is,
- Number of Days: This is the number of days Repricer will look at when your rule is run
- More than / less than: If Repricer is looking for sales above or below the amount (next field)
- Amount: The money made from your orders which will trigger this range
- Increase / Decrease: If you would like your price to increase or decrease
- Value: By how much you want your price to change
- Percent / Amount: If the value you have set is a percentage or currency amount.
Note: Sales Rule ranges will be checked in turn, and only the first to match will apply. That means it's important to keep your ranges in order, going from the highest percentage to the lowest to ensure each range is checked in turn. In the event that no ranges match, your product's price will not change.If you would like a more detailed explanation including examples we have a full article which goes into more detail on Volume Sales Rules here.
Volume Sales Rule Use Case & ExampleLet's consider the fictional company of James Hair Product Supplies. James sells, well, hair products but it's purely a side business so he doesn't want his sales to get to much for him to handle along with his full-time job. With that in mind he has targetted between 5 and 10 orders a month per product and wants to price his products into a range to secure this. With this in mind, he is going to use a Volume Sale Rule.
James also knows that his products can, from time to time, have spikes and lulls in sales so doesn't want to be reacting too quickly. So he sets his Sale Rule to look at sales over the past month instead of a tighter timeframe. Below are the settings he uses,So, let's take a look at two example products, the first, 'Total Hair Care' has had 15 orders over the past 30 days, while the second, 'Jaxon's Ultimate Hair care' has only sold 4. Let's take a look at what happens with each.
Total Hair Care : 15 ordersWe know that the sales for Total Hair Care are higher than Jack would like, at 15 orders. Our first range is triggered as this is higher than 10. This range's settings are used causing our product price to increase by 1%.
For our next example, we do the same as above, we work our way down the ranges until we find one that matches. Our first doesn't match, while our second does,
Jaxon's Ultimate Hair Care : 4 orders
Sold more than 10 units
- Sold less than 5 units ✓
So, in this case, as our sales have been less than 5 units, so Repricer applies a price decrease of 1% to Jaxon's Ultimate Hair Care.
Note: In the event that no ranges match, your product's price will not change.
Sales Rules SettingsIn order to fine-tune how your Sales Rules are applied Repricer has a number of Settings you can use to control what data is used, when your rule runs and even target specific physiological price points. Learn more about these various settings in our separate Sales Rules Settings article.
Further ReadingLearn more about Sales Rules, how they work and how to assign them here
Learn more about the Velocity Sales Rule flow with examples here
Learn more about the various Sales Rules Settings available here