PriceOtus

PriceOtus

Repricing Rules Guide

Overview

Repricing Rules automatically adjust your product prices based on competitor pricing. They enable dynamic, competitive pricing without manual intervention.

When to Use Repricing Rules

  • Automated Competitive Pricing: Keep prices competitive automatically
  • Dynamic Pricing: Adjust prices based on market conditions
  • Time Savings: Eliminate manual price monitoring and updates
  • Competitive Advantage: Respond to competitor changes instantly
  • Price Optimization: Maximize sales while maintaining margins

Understanding Repricing Rules

How Repricing Works

  1. Rule Evaluation: System evaluates repricing rules periodically (based on update interval)
  2. Competitor Analysis: Checks current competitor prices
  3. Price Calculation: Calculates suggested price based on rule
  4. Safeguard Check: Verifies price is within safeguard limits
  5. Price Update: Updates Shopify product price if in "Watch & Reprice" status, and updates only Suggested Price if in "Watch"

Requirements

For repricing to work:

  • Product must be in "Watch & Reprice" status
  • Product must have at least one competitor
  • Product must have a repricing rule assigned
  • Suggested price must pass safeguard checks

Creating Repricing Rules

Basic Setup

  1. Go to Repricing Rules tab
  2. Click "Add new rule"
  3. Configure pricing strategy
  4. Set advanced options (optional)
  5. Choose target products (optional)
  6. Save rule

Rule Configuration

Rule Name

  • Auto-generated based on strategy
  • Can be customized
  • Example: "Reprice 5% below cheapest competitor"

Core Pricing Strategy

1. Base Relationship

Below: Price below competitor

  • Example: "5% below cheapest competitor"
  • Good for aggressive pricing

Equal: Match competitor price exactly

  • Example: "Equal to cheapest competitor"
  • Good for competitive matching

Above: Price above competitor

  • Example: "10% above average competitor"
  • Good for premium positioning

2. Competitor Selection

Cheapest competitor: Use lowest competitor price

  • Most aggressive pricing
  • Good for price leadership

Average price of competitors: Use average of all competitors

  • Balanced approach
  • Good for market positioning

Highest competitor: Use highest competitor price

  • Premium pricing
  • Good for value positioning

3. Difference Value

Percentage (%): Relative difference

  • Example: 5% below means your price = competitor × 0.95
  • Good for proportional pricing

Fixed Amount (Currency): Absolute difference

  • Example: 5belowmeansyourprice=competitor−5 below means your price = competitor - 5
  • Good for consistent margins

4. Additional Adjustment (Optional)

On Top Adjustment: Additional price modification after base calculation

  • Plus: Add percentage or amount
  • Minus: Subtract percentage or amount
  • Example: "5% below cheapest, then minus $2"

Use Cases:

  • Account for shipping differences
  • Adjust for quality differences
  • Fine-tune final price

Advanced Options

Price Limits

Enable Limits: Prevent extreme price changes

Condition: "New price can't be lower/higher than my price/cost"

Limit Value: Percentage or fixed amount

  • Example: "Can't be more than 20% lower than my current price"
  • Example: "Can't be more than $10 higher than my cost + 10%"

Use Cases:

  • Protect profit margins
  • Prevent pricing errors
  • Maintain price floors/ceilings

Cents Rounding

Enable Rounding: Round prices to nearest specific cent values

Options: Round to nearest .00, .25, .50, .75, .99, etc.

Use Cases:

  • Psychological pricing (9.99vs9.99 vs 10.00)
  • Clean price endings
  • Brand consistency

Excluded Stores

Exclude Competitors: Ignore specific competitor stores

When to Use:

  • Competitor uses different pricing model
  • Competitor includes shipping in price
  • Competitor is not relevant
  • Competitor has unreliable prices

How to Exclude:

  1. Add stores to exclusion list
  2. Excluded stores won't affect price calculation
  3. Can exclude multiple stores per rule

Product Price Range Filter

Enable Range: Apply rule only to products in specific price range at the moment

Options:

  • Minimum price: Only products above this price
  • Maximum price: Only products below this price
  • Both: Only products within range

Use Cases:

  • Different strategies for different price tiers
  • Protect low-margin products
  • Optimize high-value products

Example:

  • Rule 1: "5% below" for products 10−10-50
  • Rule 2: "10% below" for products $50+

Applying Rules to Products

Target Selection

When saving a rule, choose where to apply it:

Option 1: Don't Change

  • Save rule only
  • Don't apply to any products
  • Apply manually later (if not already)

Option 2: All Products

  • Apply to all products in "Watch & Reprice" status
  • Use with caution
  • Good for universal strategies

Option 3: Selected Products

  • Apply to specific products you choose
  • Most control
  • Good for testing

Option 4: Products in Collections

  • Apply to all products in selected collections
  • Good for category-based pricing
  • Efficient for many products

Option 5: Products by Brands

  • Apply to all products from selected vendors/brands
  • Good for brand-specific strategies
  • Useful for multi-brand stores

Additional Options

Change Status to Reprice

  • Automatically set products to "Watch & Reprice"
  • Useful when applying rule to new products
  • Ensures repricing is enabled

Skip Products with Existing Rules

  • Don't override existing rule assignments
  • Preserves current rule assignments
  • Good for incremental updates

Repricing Rule Examples

Example 1: Price Leadership

Goal: Always be the cheapest

Configuration:

  • Relationship: "Below"
  • Competitor: "Cheapest competitor"
  • Difference: 5%
  • Unit: "%"
  • Target: All products

Result: Your price is always 5% below the cheapest competitor

Example 2: Market Average Matching

Goal: Price at market average

Configuration:

  • Relationship: "Equal"
  • Competitor: "Average price of competitors"
  • Target: Selected collections

Result: Your price matches the average competitor price

Example 3: Premium Positioning

Goal: Price 10% above average, but not more than 20% above cost

Configuration:

  • Relationship: "Above"
  • Competitor: "Average price of competitors"
  • Difference: 10%
  • Limit: "Can't be more than 20% above my cost"
  • Target: Premium products collection

Result: Price is 10% above average, but protected by cost limit

Example 4: Aggressive with Floor

Goal: 5% below cheapest, but never below cost + 10%

Configuration:

  • Relationship: "Below"
  • Competitor: "Cheapest competitor"
  • Difference: 5%
  • Limit: "Can't be lower than my cost + 10%"
  • Rounding: Nearest .99
  • Target: Competitive products

Result: Aggressive pricing with profit protection

Example 5: Shipping-Adjusted Pricing

Goal: Match competitor but account for free shipping

Configuration:

  • Relationship: "Equal"
  • Competitor: "Cheapest competitor"
  • On Top: "Minus $5" (your shipping cost)
  • Target: Products with shipping

Result: Price matches competitor, adjusted for shipping difference

Managing Repricing Rules

Editing Rules

  1. Click on a rule
  2. Modify configuration
  3. Choose whether to reapply:
    • Don't change: Keep current product assignments
    • Reapply: Update all products using this rule
  4. Save changes

Deleting Rules

  1. Click "Remove" on a rule
  2. Confirm deletion
  3. Products using this rule will need a new rule
  4. Consider reassigning before deleting

Testing Rules

Before Full Deployment:

  1. Create rule with "Don't change" target
  2. Manually assign to one test product
  3. Monitor suggested prices
  4. Adjust rule if needed
  5. Apply to more products when confident

Repricing Safeguards

Global Safeguards

Configured in Settings → Repricing Safeguard:

Purpose: Prevent extreme price changes across all products

Settings:

  • Base: Price or Cost
  • Minimum: % of base (e.g., 80% of cost)
  • Maximum: % of base (e.g., 200% of price)

How It Works:

  • Applied before rule-based calculation
  • Filters out competitor prices outside limits
  • Prevents pricing errors
  • Protects profit margins

Rule-Level Limits

Set in individual repricing rules:

Purpose: Rule-specific price protection

More Granular: Can be different per rule More Flexible: Can use price or cost as base

Best Practices

1. Start Conservative

  • Begin with small price differences
  • Test on a few products first
  • Monitor results before expanding

2. Use Appropriate Competitor Selection

Cheapest: For price leadership Average: For balanced positioning Highest: For premium positioning

3. Set Safeguards

  • Always configure global safeguards
  • Use rule-level limits for specific cases
  • Protect your profit margins

4. Consider Your Costs

  • Know your product costs
  • Set minimum price limits
  • Account for fees and margins

5. Use Exclusions Wisely

  • Exclude unreliable competitors
  • Exclude different business models
  • Review exclusions regularly

6. Test Before Full Deployment

  • Start with one product
  • Monitor for a few days
  • Expand gradually

7. Combine Multiple Rules

  • Different rules for different categories
  • Price-range based rules
  • Brand-specific strategies

8. Regular Review

  • Check suggested prices regularly
  • Review rule performance
  • Adjust based on results

Troubleshooting

Prices Not Updating

  • Verify product is in "Watch & Reprice" status
  • Check if rule is assigned to product
  • Ensure product has competitors
  • Verify safeguards aren't blocking updates (competitors typically display a warning triangle icon when this occurs)
  • Check update interval settings

Prices Updating Incorrectly

  • Review rule configuration
  • Check competitor prices
  • Verify excluded stores
  • Review safeguard settings
  • Check for conflicting rules

Suggested Price Seems Wrong

  • Verify competitor selection
  • Check excluded stores
  • Review rule calculation
  • Check safeguard limits
  • Verify competitor prices are current

Rule Not Applying to Products

  • Check target selection when saving
  • Verify products are in correct status
  • Ensure products have competitors
  • Check if rule is enabled

Too Aggressive Pricing

  • Increase difference percentage
  • Use "Average" instead of "Cheapest"
  • Set lower limits
  • Exclude aggressive competitors

Not Competitive Enough

  • Decrease difference percentage
  • Use "Cheapest" competitor
  • Remove or adjust limits
  • Review excluded stores

Integration with Other Features

With Alert Rules

  • Use alerts to monitor conditions
  • Use repricing to automate responses
  • Alerts inform, repricing acts
  • Alerts and repricing work independently

With Market Stats

  • Review market position regularly
  • Adjust rules based on position
  • Use stats to validate rule effectiveness

With Competitor Discovery

  • More competitors = better repricing
  • Regularly discover new competitors
  • Remove outdated competitors

Advanced Strategies

Multi-Tier Pricing

Strategy: Different rules for different price ranges

Example:

  • Under $20: 10% below cheapest
  • 20−20-50: 5% below average
  • Over $50: Match average

Tips

  1. Monitor Regularly: Check suggested prices daily
  2. Adjust Gradually: Make small changes, not big jumps
  3. Understand Your Margins: Know your costs and limits
  4. Test Everything: Test rules before full deployment
  5. Document Strategies: Keep notes on what works
  6. Review Competitors: Regularly review competitor list
  7. Use Safeguards: Always protect your margins
  8. Be Patient: Repricing takes time to optimize