How to Use Eva Pricing Management
Eva Pricing Management changes your price without hitting the lowest price and allows you to edit and analyze your SKUs in multiple ways. All actions can be done on one page. To access the Pricing Management, hover on to the Eva panel and choose from the dropdown menu.
The Pricing Management page consists of different sections;
- Upload and Download
Instead of editing every SKU one by one, you can prefer bulk upload. Click Download Template to reach out to the Eva template. The downloading procedure may take a while, and you will be notified when it is done. The name of the downloaded .csv file will include the marketplace, date, and exact time.
You will find different sections in the template to make your store’s integration process easier. After you fill in the SKU name and the ASIN section, you can decide your pricing strategy. There are several options to use;
1- You can enter a min. price and a max. price and enable the ‘Pricing Management’ by entering the letter ‘Y’ in the “ENABLE_REPRICING” column. This process continues in the background and will be reflected in the pricer panel.
- If your calculation is not based on ROI or Margin, you do not have to enter a max. price, but you must enter a min. price.
- Once you set your min. and max. prices and enable the pricer, Eva changes your price between that range.
2- If you want to calculate your min. price through a calculation based on the percentages of ROI or Margin, you have to enter a production cost. After you determine the production cost, you can set a min. ROI or min. Margin in the template, Eva calculates your min. price according to your production cost and ROI/Margin value and sets it as min. price. If you set a min. price beforehand, Eva takes that value as the default min. price regardless of whether you set an ROI value or a Margin value.
- It is important to note that; you need to clarify what method you pick by entering ‘R’ for ROI or ‘M’ for Margin to the “ENABLE_ROI_MARGIN(R/M)” column.
- This column automatically comes with ‘R’ (ROI) as default. If you want to use margin-based calculation, then you should change it to ‘M’ (Margin). In order to enable the pricer, specify the letter ‘Y’ in the “ENABLE_REPRICING” column. Once the pricer is enabled, this process continues in the background and your arrangements are reflected in the pricer panel.
3- You can choose the advanced pricing options such as; MAP price or Fixed price. Just enter the values then those prices will be activated. Please keep in mind that, once you set a MAP price, you can’t set a min. price while you can set a max. price. However, once you set a fixed price, you can’t set a max. or min. price.
After you complete filling out the template, you can upload it back to update SKUs in bulk by clicking Upload Template.
Additionally, SKUs can be filtered in the desired way. Use filters from the below section and then export by using the “Export as Filtered” button.
You will see a section above the SKU list. This section includes a search bar where you can search for ASIN, SKU name, and product name in the same place. The searching feature is available if you enter 3 or more characters.
Under the bar, there are advance filters: Fulfilled by, Inventory Status and, Pricing.
- Fulfilled by: There are two different fulfillment types: Merchant or Amazon. All will come as default and gives you a chance to see every item you have. However, you can change anytime you want by hovering, and the dropdown menu will appear.
- Inventory Status: Inventories are categorized based on; All, Available, Back Ordered, Out of Stock, Closed, Blocked. All is the default option and can be changed from the dropdown menu.
- Pricing: Eva Pricing Management can be enabled or disabled according to your preferences. All is the default option; you will see all of your SKUs below whether Pricing Management is active or inactive.
The filter section can be minimized, refreshed, or closed from the right upper. You can click the arrow symbol to minimize, the middle one to refresh, and the top right to close the bar.
3. SKU List with Vital Information and Options
If you don’t use any filter, all of your SKUs will be listed. You will see 25 SKUs on one page and the page numbers at the bottom of the page. Click on the number of the page you want to visit or use the arrow to go to the next page.
Every SKU has the following columns: Pricing Settings, Advanced Pricing Options, Buy Box Status, Pricing.
SKU: This section shows from top to bottom: The product name, SKU name, and ASIN. Clicking the Product name and SKU will direct you to the Amazon product page, while clicking the ASIN will direct you to the Seller Central.
There is more information regarding the SKU. You will see the corresponded inventory status and the fulfillment method. Also, the three initials give more insight as ‘A’ represents Available, ‘B’ represents Backordered and, ‘I’ represents Inbound. The SKU Scorecard can be accessed by clicking on the SKU Scorecard button.
Pricing Settings: You can set your min price by using the pen icon, making necessary calculations, and hit the ‘Save’ button. If you want to find out what is the calculated optimal minimum price, click the button ‘Calculate Optimal Min. Price‘.
- This way, you can both have more information about the SKU and set the product cost. The calculations will change based on your cost. You can calculate your optimal min. price by using min. Margin% or min. ROI% as well.
This section will automatically come with min. ROI selected as default, you can change it to min. Margin and demand a margin-based calculation. Just set product cost and set your min. Margin% or ROI% and click ‘calculate’. Eva will calculate the optimal minimum price for you, and you can use this as min. price by clicking ‘Set Min. Price’.
- If you want to know your min profit, margin %, and ROI % in the quickest way, hover on ‘Min. Price’ and a tooltip will appear as below.
Advanced Pricing Options: This is an extra section where you can decide on your selling strategy. You can determine your pricing strategy based on Fixed price or MAP price. The pricing option will have the corresponding name. To choose, click ‘Edit’, and you will see the following:
- Here, you can edit the advanced pricing settings by setting MAP and fixed prices.
Buy Box Status: This column shows the current selling price, Buy Box price, and shipping price. The tuck icon represents the shipping price, and under that icon, you will see the Buy Box ownership status.
If the SKU has the Buy Box, there will be a green notification that says Buy Box Win.
If the SKU tries to win the Buy Box, there will be a purple notification that says Buy Box Chasing.
When there is no Buy Box on that SKU, there will be a yellow notification that says No Buy Box.
- Keep in mind that, if the pricer is not enabled, there will be no information regarding the Buy Box ownership status.
Here, another cool feature is being able to see the current profit, margin % and, ROI %. Hover on ‘Current Price’ to see the numbers on the tooltip:
Pricing: If the toggle is blue, it means that the Eva Pricing Management is enabled. If it is grey, it means that Pricing Management is disabled. To activate the pricer, you need to set Min. Price, MAP Price, or Fixed Price, and they must be greater than 0.
Lastly, you can filter all of your products based on ‘Buy Box Status.’ All come as default, but you can change from the dropdown menu. When you click the arrow, the filtering options will appear as Buy Box Win, Buy Box Chasing, No Buy Box, Buy Box Win by Amazon, Buy Box Win with Min. Price, Buy Box Win with Max. Price, Buy Box Chasing with Min. Price, Buy Box Chasing With Max. Price, Buy Box Price Below Min. Price.
Buy Box statuses are also available on the below table, under the current price column. It indicates whether you are winning or chasing the Buy Box or there is no Buy Box. Each of the labels is customized with unique colors.
Here, you can see an example of winning the Buy Box.
Let’s have a look at deeply to all of our statuses:
- Buy Box Win: This label shows you currently own the Buy Box within the range you set as max and min price.
- Buy Box Chasing: There might be other sellers in the listing. This label appears when another seller is currently winning the Buy Box, but don’t worry, Eva is chasing and will make a move to win the Buy Box in the fastest way.
- No Buy Box: In some cases, Amazon does not give the Buy Box to any seller on the listing.
- Buy Box Win by Amazon: This means that, currently, Amazon has the Buy Box.
- Buy Box Win with Min. Price: You will see this status when you win the Buy Box at your min. price.
- Buy Box Win with Max. Price: You will see this status when you win the Buy Box at your max. price.
- Buy Box Chasing with Min. Price: This situation happens when another seller owns the Buy Box, but Eva chases after this SKU with the min. price that you set.
- Buy Box Chasing with Max. Price: When Eva tries to win the Buy Box with the highest possible price.
- Buy Box Price Below Min. Price: This happens when the current Buy Box price is lower than your min price. Selling a product at a lower price than your rivals plays a considerable role in winning the Buy Box. As you know, to enable the pricer, you need to set a min. price that Eva respects and makes pricing decisions based on this limit. If another seller sets a lower price than yours, Eva can not sell less than your min. price, and this will affect the chance of winning the Buy Box.