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💸 Listings Lounge: Price Boundaries: Safeguarding Your Profits by Setting Minimum Prices! 💰
Welcome back to the Listings Lounge!
Has this happened to you?
You meant to price that 72" TV at $2,999.00
But a typo made it $299.90 (missing that crucial zero!)
Orders flood in before you notice
Your FBA inventory is locked in at that price and you can't cancel the orders
If your items are MFN, now you're facing either a metric hit or major losses
💡 Prevention is Better Than Cure!
Here's how to protect yourself using the Inventory Loader.
Download the template here:
Fill out these crucial columns:
Column A: Your SKU
Column B: ASIN (Product ID - optional)
Column C: Enter "1" (Product ID Type - optional)
Column D: Your desired price (optional)
Column E: MINIMUM PRICE (crucial!)
Column F: MAXIMUM PRICE (optional)
Column H: Quantity (do not fill out if your items are in FBA)
Column N: Enter "Amazon_NA" (required for FBA items)
⚠️ Why Set Minimum Prices?
- Prevents accidental underpricing
- Protects profit margins
- Gives peace of mind
- Saves you from costly pricing errors
You can also use 🔑 Benefits of Using Price & Quantity File listed within the Inventory Loader help page.
- Quick bulk updates for prices and quantities
- Set minimum/maximum price guards
- Prevent costly pricing errors
- Efficiently manage inventory levels
📝 Essential Column Guide:
- sku (Column A - required)
- asin (Column B - optional)
- price (Column C - optional)
- minimum-price (Column D - required)
- maximum-price (Column E - optional)
- quantity (Column F - (Do not fill out if you sell FBA)
- fulfillment channel (Column G - Enter "Amazon_NA" (required for FBA SKU's)
⚠️ IMPORTANT RULES:
- SKU is mandatory
- Must include either price OR quantity (or both - only use price if your items are in FBA)
- Use decimal points for prices (e.g., 29.99)
- Quantity must be whole numbers
- Maximum 100,000 rows per file
🔒 Price Guard Tips:
- ALWAYS set minimum prices
- Set reasonable maximum prices
- Double-check decimal places
- Review regularly
📈 Best Practices:
- Backup your data before updates
- Start with small batch tests
- Review changes after upload
- Keep price history records
If you use Automated Pricing, you can set minimum pricing for up to 50 SKU's at a time, which is explained here.
❗Remember: One missing decimal point could cost thousands in lost profits!
Taking 5 minutes to set minimum prices could save you thousands in potential losses!
💪 Pro Tip: Review your minimum prices regularly, especially when your costs change.
Have you ever experienced a pricing mistake that cost you money? What happened and how did you handle it? 💸
Looking forward to hearing from you!
Michelle
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