Cost is the price you paid for your items, which is used by Sellery to automatically calculate a safe Minimum Price* for repricing. Therefore, each item in your inventory MUST have a cost in order for the system to price that item accurately. You don’t need to worry about adding a margin to inflate your cost to reflect a profit because you can add a margin or mark-up to your cost in an automated manner within the pricing rules you set.
See below for the different ways to set your item's cost:
- Setting cost for new items added outside of Sellery
- Setting cost for new items added within Sellery
- Setting cost for existing items individually
- Setting cost for new or existing items in bulk
- Experiment with costs as a new user
Under Settings > Cost you can create a Cost Policy that will be applied to any items being imported into Sellery that don't have an associated cost already. You can define this policy in one of the three ways:
- You can set an item’s cost by a percentage lower than your currently listed price.*
- You can set a fixed cost for each newly added item.
- You can set an item's cost to a percentage lower than the Amazon defined list price of your item.*
The default cost policy, if you make no changes, is to set your cost at 50% below your currently listed price at the time of initial import.
* You will also need to define a fixed amount to be used for items that do not have a currently listed price (e.g. In transit FBA items) or for items that do not have an Amazon defined list price.
When adding Merchant Fulfilled items through the Receiving page, you can specify the cost for each item individually or in bulk if all the items you are adding have the same cost.
Manually edit the item’s cost in the 'Stock' tab on the Inventory page. Input your new cost value and hit enter on your keyboard to save.
Settings > Uploads allows you to upload any .csv or Excel file containing SKU and cost. Even if a SKU contained in your cost file isn’t currently in your Sellery inventory, the system will store the cost pairing and assign that cost to that SKU once it’s imported into your inventory.
As a new user of Sellery, one of your first goals is to assign an appropriate cost to all your items in order for Sellery to reprice your items at a safe Minimum Price.
In Settings > Cost you can tinker with applying a cost policy that will apply not only to new items, but to all of your existing items by checking the box 'Adjust the cost of existing items as well'. This can help you get started in setting up a cost for all your items quickly. It is important to note that this setting will not adjust the costs for any items you have explicitly set through the 'Receiving' Page, the 'Stock' tab in the Inventory Page, or through a .csv/Excel Upload.
Note: This feature is only available for new users who signed up after Dec 3, 2015 and stays available up to 2 weeks after you turn on the management of your listings using Sellery, under Account > Settings.
*Minimum Price is a value that is automatically calculated by Sellery for each of your listings. Sellery uses cost, Amazon fees and commissions (including FBA where applicable), shipping fees and costs, along with any margins or mark-ups you identify to determine your Minimum Price which is a set floor or lower limit that the system will never price below unless you indicate a negative mark-up.
You can see how your Minimum Price is calculated using the 'Pricing Log' tab on the Inventory Page.