Dynamic pricing allows retailers to automatically adjust product prices based on competitor prices, sales data, and predefined rules. This guide will walk you through creating a Dynamic Pricing Strategy using the tool shown in your screenshots.]
1. Start from the Pricing Strategies Dashboard
Go to the Pricing strategies section.
Click on Create pricing strategy (top right).
In the modal window, select Dynamic pricing from the dropdown list.
2. Select Product Selection Mode
You can choose between two modes:
Dynamic: Products are included based on filters and will update as your catalog changes.
Fixed: Only selected products at the time of creation are included.
➕ Add Products
Click Add products.
Use filters to narrow down by fields like brand, product type, or SKU.
Select the desired products and click Add products (X).
3. Set Pricing Rules
Navigate to the Pricing rules tab.
Add Rule
Click + New rule or Calculate prices.
Choose the Method: e.g., Set market value.
Select the Operator: e.g., Market minimum or Average.
Pick relevant competitors from the list or add all.
Click Save to confirm.
4. Schedule the Strategy
In the Schedule tab, define when the strategy should be active:
Start pricing strategy: Immediately or set a custom date/time.
End strategy: Optional end date or select Never.
Repricing Rules:
Auto-approve new prices.
Or require manual approval.
Frequency: Run suggestions daily or at a custom schedule.
5. Add Strategy Zones (Optional)
This feature allows price differentiation by geographical zones or store segments.
Define which products belong to which pricing zone if needed.
6. Apply Rounding Rules
Set rounding preferences to ensure prices end in familiar digits (like .99 or .00):
Define rounding brackets (e.g., €5–19.99 round to *.49, *.99).
Enable automatic rounding for price suggestions.
7. Add Safeguards
To avoid risky pricing, go to the Safeguards tab:
Add a Price floor (e.g., based on minimum margin like 10%).
Add a Price ceiling (e.g., no more than 25% increase over current price).
8. Use Pricing Groups (Optional)
Pricing groups help synchronize prices of similar or related products:
Enable Pricing groups.
Group by Parent product ID, brand, or another logic.
Choose aggregation method: Average, Max, Min, etc.
Choose when to apply rules: before/after safeguards.
9. Review & Activate
Review all product suggestions, price forecasts, and profit calculations.
Click Create pricing strategy to activate it.
Or click Save as draft to review later.
✅ Best Practices
Start with a small product set to test.
Review gross profit impacts before activating.
Use safeguards + manual approval if you’re new to dynamic pricing.
Test rounding & grouping rules for customer-friendly pricing.