Skugrid Additional Formulas Per Supplier: How to Set Up Formulas Specific to a Supplier
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Formulas Referenced in Video:
Walmart - (vendor_price+vendor_shipping)*0.09
Amazon - abs(((((vendor_price-34.991)+abs((vendor_price-34.991)))/2)/(vendor_price-34.991)-1))*8
Overstock - (-(vendor_price*0.08))
In this video, we're going to show you how to set up Additional Formulas Per Supplier. In some cases, there will be additional formulas that you may want to set up when certain stores are used as a supplier. For example: If your normal default selling price formula does not account for vendor tax, but you want to add an additional formula so that when Walmart is used as a supplier, you can add on an extra 9% of the supplier cost to your prices to help cushion you for that sales tax or if you're listing Amazon items and would like to add on X amount of dollars to all items under $35 to help you cover shipping. These are just 2 instances of when an additional formula could be used.
To access your Additional Formulas, please navigate to Settings -- Marketplaces -- eBay or Amazon (the concepts are the same for both) -- click on US or UK.
Scroll down to Additional Formulas That Fire Up Depending on Supplier.
Select the supplier from the Additional formulas for store: drop down. Let's use Walmart as mentioned in the example.
A new box will appear with the Store name you selected as a supplier. Enter an Additional Formula Here.
The variables that can be used for your Additional Formulas are above your Selling Price/Buy It Now Formula.
Let's pretend that our default formula does not have vendor tax, but when Walmart is used as a supplier, we'd like to add another 9% to the item. Simply type (vendor_price+vendor_shipping)*0.09. That formula would add another 9 percent of your supplier cost to your default selling formula that you created previously when Walmart is used as a supplier.
Here's another example, let's say that when Amazon is used as a source, since Sku Grid can't know the shipping amounts because it is not known until checkout, that you want to add an extra $8 to your formula to help you cover shipping costs when the item is under $35.
You'd select Amazon from the Additional formulas for store: drop down and enter the following formula (We'll put this in the description of the video so that you can copy and paste it easily)... abs(((((vendor_price-34.991)+abs((vendor_price-34.991)))/2)/(vendor_price-34.991)-1))*8. Keep in mind that this additional formula is calculated after your default selling formula is calculated. So you have to also consider fees being taken out of your newly calculated selling price. So if you enter 8 here at the end of the formula, just be aware that you will not likely net out $8. It would most likely be between $6-7.
Using a formula like this can be used with any supplier and any price range. You would simply change the references to 34.991 to a number just below the threshold for the supplier...For example, lowes has Free shipping for items over $49, but uses Calculated Shipping for the rest. You would enter 48.991 in the formula in place of the references to the 34.991. You'd also need to change the last number at the end of the formula. That is the amount that you want added on to your item.
We'll provide one more example, let's suppose you're using a supplier such as Overstock and because of your coupons and club O rewards, you'd like to discount your items a little so that your prices are more competitive. Let's presume that you'd like to take 8% off of your selling prices. Select Overstock from the drop down.
In the formula box, you would type (-(vendor_price*0.08)). We're enclosing the formula for 8% of the supplier item price with an extra set of parentheses and a negative symbol in front of it. This is because a plus (+) is automatically assumed when using additional formulas. So we have to use the extra parentheses and negative sign to subtract out the 8%.
Important Note: Additional Formulas are only triggered when your item is NOT overridden and must be using the default selling price formula from your settings above.
Remember, the use of additional formulas is totally optional. And they can technically be whatever you want them to be. If you ever have any questions, please feel free to submit a support ticket.
Thanks for watching! We'll see you in the next video.
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