To set up SmartPrice rules, follow these steps:
- From the sidebar, navigate to the Dynamic Pricing page.
- On this page, you'll see all the rules you've previously created (if any).
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Click the Add New Rule button.
- Give the rule a name (required).
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Choose one of the two modes:
*Important points to note are listed at the bottom of the page.
A. Single Rule Mode - Standard
We’ll begin with Single Rule Mode. Here’s a basic guide to help you configure your rule.
POSITION
Choose how your prices should be positioned. You can position yourself to be higher or lower than the lowest, average, or highest competitor price, using either a currency or a percentage.
For example, you can set up a rule to:
- Be 10% lower than the cheapest competitor.
Match exactly (equal to) the cheapest competitor.
If you're on a Channel-based plan and have enabled the Total Price in your Preferences, you can also set your pricing position based on either the Total Price or the Standard Price.
LANDSCAPE
You can choose to include or exclude competitors. If you make no selection, the rule will apply to all competitors by default.
*To target a specific competitor, select their names individually.
APPLY TO
Rules can be created for:
All or a specific Product
All or a specific Collection
All or a specific Brand
All or a specific Category
*For applying to a specific product/collection/brand/category, select their names individually.
MARKUP
Here, you can determine the lowest (minimum level) and highest limit (maximum level) for which you will receive SmartPrice suggestions.
Make sure that you have entered the Product Cost for each item. Profit can then be defined as a currency or a percentage.
Setting a Minimum Level is important to ensure SmartPrice suggestions never drop below your desired profit margin. Maximum Level is optional.
You can also include an Additional Cost for your products and set the minimum or maximum level based on Cost + Additional Cost.
*For more information about Product Cost and Additional Cost, please refer to our Points to Note.
FORCE FALLBACK
Designate the min level for the SmartPrice - If the calculated price falls below the minimum limit, SmartPrice will revert to your minimum level and suggest that instead.
Designate the max level for the SmartPrice - Likewise, if the calculated price is above the maximum limit, SmartPrice will cap the suggestion at your maximum level.
If no option is selected and the calculated price falls below the minimum limit or above the maximum limit, a notice will appear as shown below.
SET PREFERENCES
Lastly, you can set a Custom Decimal and Price Change Limits before saving the rule.
Custom Decimal allows you to adjust the final SmartPrice to include a specific decimal. For example, if the calculated price is $10.37 and you set a custom decimal of .50, the price will round up to $10.50.
Price Change Limits prevent SmartPrice suggestions if the price increase or decrease exceeds your set limits.
It can be set to “at most” or “at least”, and the value can be defined as a currency or a percentage.
“At most”: Prevents changes from increasing or decreasing beyond this limit.
“At least”: Prevents changes smaller than this amount.
At the bottom of the page, you’ll find the SmartPrice Live View. This real-time preview shows the SmartPrices generated by the rule you’ve set, allowing you to review the results and decide whether to save the rule or make further adjustments.
B. Multiple Rule Mode
In Multiple Rule Mode, you can create up to five rules and choose from four options to configure your Dynamic Pricing strategy.
Compare Rule - Minimum Price: All rules will be compared, and the lowest SmartPrice will be selected.
Compare Rule - Maximum Price: All rules will be compared, and the highest SmartPrice will be selected.
Compare Rule - Closest to My Original Price: All rules will be compared, and the SmartPrice closest to your original price will be selected.
Jumps into the next rule until finding a solution: Rules are checked in order and stop as soon as the first SmartPrice meeting your margin or markup limits is found.
*For instructions on setting up rules, please refer to the Single Rule Mode guide.
Points to Note
Product Cost: While adding a rule does not require a product cost, we recommend entering it accurately for optimal results.
Additional Cost: Enter any extra expenses (e.g., shipping) to help create more effective Dynamic Pricing rules.
Rule Priority: When multiple rules apply, the system uses the highest-priority rule first (top → bottom).
Specific product (or selected products)
Specific collection (or selected collections)
Specific brand (or selected brands)
Specific category (or selected categories)
All brands
All categories
All products
Rule Management: You can view (ℹ️) and edit the rules (✏️) affecting a particular product from the Products page.
Automated Repricing Pauses (Shopify Users)
If you’re a Shopify user and have activated automated repricing, please note that there are times when repricing stops for competitor tracking.
The current pause times (in GMT+3) are:
05:00–10:00
14:00–16:15
22:00–00:15
Once the pause ends, the system will automatically continue updating your prices.