This article will explain the pricing logic and all the price lists available to you (standard, geographic, customer pricing, item pricing), including discounts and co-op.
Overview
Loupe provides personalised showrooms for each one of your customers. This means you can automatically show different prices to different clients. In order for this to work, your pricing must start from a standard price. Each client can then either have a plus or a minus variance against your standard price. In order for the application to look more sensible to you, we allow you to choose how you want to see columns labelled:
- If you increase prices from a standard price list, you will want to use Cost plus Mark Up label
- If you decrease prices from a standard price list, you will want to use Sell Minus Discount label
- If you use a combination of +/- from a standard then choose the one most suitable for your needs (mathematically both are identical, only the column labels are changing)
Once you have established your label preferences, then you can configure your price lists.
We understand that different markets may require different price lists, so we provide a geographic price list function
We understand that different companies inside the same market may require different price lists, so we provide a company price list function
We understand not every item sold to a single client can be generated from a company price list, so we provide an individual item price function.
How does pricing system work on Loupe?
Loupe allows you to work with different price lists for each customer, clearly and quickly, on 4 levels:
- Standard Price List
- Geographic discount
- Discount on a specified customer
- Discount on a specified item
Which price should we apply when uploading our samples?
When you upload your samples for the first time on Loupe, you should use a Standard Price List, that is the price which all other prices will be based on.
It is important to note that without any other discount indicated, that is the price the customer will see. Rest assured, it is in your control to decide which customers can access your digital Showroom, so you can ensure your samples are only viewed by trusted companies.
In the physical world, this Standard Price List could be considered as a basic price you would apply to a customer coming to your booth at a trade show, but whose purchase capability is not clear yet.
This Standard Price List must be uploaded in your Master Line, according to your specific pricing method: labour per gram, labour per piece, fixed with metal lock etc, as you can see in this example below this vendor is pricing samples using labour per gram:
How do I enter discounts?
Once you have uploaded your samples with your Standard Price List in your Masterline, you can work on the 3 discount levels:
Geographic discount: discount/mark up you apply for a specified market, so that any customer registered on Loupe from those markets, will be able to see the samples of your digital Showroom updated at the adjusted price for this country (but they cannot see the percentage you have applied).
This feature provides two important benefits: first, you can customize your product offer for target markets, even before the customers from those markets connect with you on Loupe. Second, for many small customers, it might be not worthwhile applying a specific discount for each company. In this case the geographic discount will allow you to group all those customers who do not merit a customized price list.
Discount on a specified customer: Anytime a customer connects with you on Loupe, you can immediately save a discount/mark-up, so that your digital Showroom will automatically adjust pricing for this company. This functionality allows you to create a commercial catalogue with unique prices for each customer.
In the discount chart, we see also a column named CO-OP, what is this?
Co-op are all the costs linked to rebates, returns, marketing contributions, etc. on which you cannot add additional margin, else your prices would no longer be competitive.
Discount on a specified item: Loupe allows you to apply special prices on specified items for your customers, that will replace any company or geographic level discount already saved.
Can we quote a finished price, without indicating an exact discount percentage?
Yes: entering the item page inside your digital Showroom, you can simply type the final price and the system automatically calculates the discount/ mark-up percentage based on your Standard Price List.
Please note: you can edit your prices and discounts on the previous chart without the customer being notified. Only when you click on Update Pricing, will the price be updated in the customer’s system.
Can we have different prices for different customers on the same item?
Yes: in the previous chart you see the quotations of this same item for different customers connected with you on Loupe. This chart allows you to check easily and quickly the various offers for each customer on the same item; in this example, we see 3 different prices (here referred to the labour per gram) for 3 different customers and the Item Discount has replaced the company level discount or for the geographic level discount (that now display in a grey background).
Please note: Your customer will not be notified of any price modifications until he has selected the item (see Status = Selected); after the item has been Selected, you cannot update its price for that customer from your digital Showroom, as now the “winning” item is inside Products > Running Lines (which you can consider as an overview of your “winning items”).
In case we apply a discount on a specified item, is this discount summated with the company or geographic level discount?
Any type of discount refers directly to your Standard Price List and it does not summate with any other discount you may have applied at the other levels.
How can I check which prices my customers can see? Could my customers see each other’s pricing?
On Loupe you can create a customized experience for each customer inside your digital Showroom. Comparing the two screenshots here below, you see that for the same items, the customer named “Gecko” see prices that are different from the ones “Cachet London” can see. This customer filter allows you to check exactly what any of your customers are viewing when he enters your digital Showroom. Note: your customers can view your showroom in any currency of their choice, this means that if you load your samples in US dollars $ but your customer is from France and they are browsing in Euro € then the prices will automatically be converted to Euro €.
