All products imported in your store from AliExpress appear with their original prices. To get profit from your business, you need to determine pricing rules and set markups/margins.
Ali2Woo plugin features a profound system for pricing markup – the amount added to the cost of goods to cover overhead and profit. You can find in your Ali2Woo > Settings > Pricing Rules page.
Ali2Woo can multiply or add a fixed markup to the original AliExpress price or overwrite it with a custom price.
Multiplier – multiplies the original price by the number you set in the Multiplier field.
Fixed Markup – allows you to set a fixed amount that is added on top of the original product price.
Custom Price – overwrite the original product price with your custom price.
If you set the price multiplier to 5, and import a product that costs $10.00 on AliExpress.com, then Ali2Woo will set your retail price at $50.00.
Also, if you set a fixed markup to 5, then same product’s retail price will be set at $15.00.
And, if you set a custom price to 20, then your product’s retail price will be set at $20.00.
Once you set new pricing rules do not forget to click the Save settings button. Your determined pricing rules will be applied to all products which you are going to import from this point onwards.
The prices of the products which are already in your store or in your Import list, will not get automatically updated after you setup your pricing rules in the Global Pricing Rules settings, therefore, you will need to take an additional step and make sure to click Apply Pricing Rules to Existing Products button.
Once a new tab opens, you can update the type and scope.
After selecting the preferred update type and scope click on the green Apply button and your product prices will start updating accordingly.
How to Set Up Advanced Pricing Rules
Advanced pricing rules can be used to set your product markup depending on different cost ranges. This is especially effective when you are selling different types of products and their cost range is really wide, therefore, it would make more sense to set different markup/multiplier for each product cost range.
For example, if you import four products that cost: a) $5 b) $15 c) $25 d) $45.
Then the product retail prices in your store would be set as follows:
- $10 ($5 multiplied by 2)
- $30 ($15 multiplied by 2)
- $50 ($25 multiplied by 2)
- $135 ($45 multiplied by 3)
You can also enable the “Compared at price” markup in your settings and apply it to different product cost ranges.
The Advanced Pricing Rules especially work well when you are using the Auto-Updates feature, which automatically updates your product price in your store once it changes on the supplier’s end. Therefore, if you have the advanced pricing rules in place and the product cost rises you would not be losing money if you have set up pricing for different cost ranges. You can read more on how to setup the price Auto-updates feature here.
Compared at Price Feature
Compared at price is an advanced pricing technique which allows you to show that the previous price of your product was higher than the current one and indicates that your product is currently on sale.
You can set your compared at price in the Global Pricing Rules in your Ali2Woo plugin settings. First of all, enable the Set Your Compared at Pricing Rules option.
Then you will be able to select either a fixed markup or a multiplier for your compared at price or a custom price. You should have it similar to your normal pricing rules and make sure that it’s higher, otherwise, it will not function as it should.
For example, if you set the compared at price multiplier to 4 and the price multiplier to 2, and then import a product that has the product cost of $10.00 you would see it priced in your store at $20.00 and the compared at price of the product would be $40.00.
Assign Cents feature
Assign cents feature allows you to set a specific cent value for your retail product prices.
The assign cents menu can be found in Ali2Woo > Settings > Pricing rules page. You can select a value of your choice and Ali2Woo will use it when applying the Global Pricing Rules to your products.
For example, if you want the price of your product to always have $0.99 cents added, then enter 99 to the fields shown in the screenshot below.
After saving the changes and applying the rules to your existing product, the result would look like this in your store.