Our Set Prices tool has been specifically designed to help you set prices for your products with confidence. With a range of powerful features and capabilities, this tool is your ultimate guide to determining the perfect price point for your products.
Main definitions:
Retail Price: The retail price is the amount you charge your customer for a product. This price will be published in your store. Learn more about retail prices here: What's retail price?
Choose a country to display the local Gelato prices that best inform which retail price you would like to set. Note, these are the estimated costs before tax that you will be charged when selling this product and that only one retail price can be set per product variant at this time.Product costs: Refer to the total cost that you will pay for producing an item, including the cost of materials, printing, and any additional costs such as shipping and handling. The Gelato product cost is the product price that you see in our product catalog.
Shipping costs: Refer to the expenses incurred in delivering goods or products from one location to another, including fees for transportation, handling, and packaging. The Shipping cost that you see is the estimated Gelato standard shipping cost that you will pay for the product and location you chose. You can also find this information in the product catalog. The costs shown include any estimated discounts for Gelato+ or Gelato+Gold subscription.
Estimated Profit: The estimated profit value changes depending on the set price strategy that you use. The definition of Estimated Profit is your retail price minus your product and shipping costs excluding taxes. If you charge your customers separately for shipping, your profit will be higher than shown. It now includes shipping costs. If you charge your customers separately for shipping, your profit will be higher than shown.
To help you set the prices for your products, you can use our updated Set Prices functionality, which includes:
additional profit validation and checks for negative profit calculations, which will provide you with a more accurate representation of your profits.
the presentation of profit as a percentage. This will allow you to quickly and easily see the profitability of your products at a glance.
the ability to group products, making it easier to navigate your inventory. You can collapse and expand the group of variants as needed, providing you with more control and flexibility.
bulk editing, which will give you the ability to change a group of variants or all of them at once. This feature is particularly useful when you need to make a change to multiple products at the same time.
profit management tools that allow you to easily set the amount for all retail prices or profit margins (in currency or %). This feature will make it easier to manage your profit level and ensure that you are pricing your products in a way that is sustainable for your business.
the option to select a currency other than your store currency. This is particularly useful if you operate in multiple countries or if you have customers who prefer to pay in a different currency.
the price insights widget with market data (this is also available in the price settings on the product expansion and product creation flows).
it's now optional to include shipping costs in profits. It's recommended to checkmark this option if you offer free shipping on your store.
The shipping cost column represents prices for standard shipping in a specific country. This will make it easier to manage shipping costs and ensure that you are accurately representing shipping prices to your customers. You can always reset all settings to the default 50% profit margin by clicking the blue Reset to default button on the upper right-hand side.