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Minimum Price Setting
Marketplace Sellers are able to set minimum prices for all listed products; you can set the price when you list your item for sale on Choiceful.com or edit your prices in ‘Manage Listings’. Setting a minimum price allows our pricing tool to automatically adjust your price in line with other sellers for each listing, saving you time as don’t have to keep adjusting your prices by small fractions to keep your lowest price seller status.
Minimum pricing does not mean that your prices will only decrease. When competitor sellers remove their listings or increase their prices, your prices adjust back to your set Selling Price automatically.
Minimum price will only change your sell price and not your delivery charges.
You list a product for £14.99, and are the lowest price seller, and set a minimum price of £14.00. A competitor Marketplace Seller adjusts their price to £14.89.Our pricing tool automatically lowers your price to £14.88 to ensure you do not lose your lowest price status. The lowest price it will reduce automatically up to is £14.00 (your set Minimum Price) in factors of 1p. The competitor seller then removes their listings; in this case your Sell Price will again revert back to £14.99.
You list a product for £19.99, and are the lowest price seller, and set a minimum price of £19.99. Another Marketplace Seller adjusts their price to £18.99, and becomes the lowest price seller. Our pricing tool will not lower your selling price below the minimum price set.
Disabling Minimum Prices (Setting Fixed Prices)
To disable minimum pricing simply set the minimum price equal to the selling price. By doing so never reduce your price lower than set as your fixed Selling Price.
How to Set Minimum Prices
When you list a product you can set the minimum price, there are many ways to list products for sale on Choiceful.com click here to find out more.
To edit your minimum prices sign in to your Marketplace account and edit your prices and other product details in “Manage Listings”.
Note* Sellers with minimum prices set below their Sell price can sell up to 15% more compared to sellers with fixed prices.