How are costs used in Informed?
Costs are important in configuring profit and determining min/max prices using a formula or profit-based strategy setting. Though costs are not a necessity to reprice your listings, we highly recommend adding them as without them we will be unable to calculate profit on orders or show the profit you will be making your current price.
Costs are required if you are to use any of our calculated min/max strategy settings such as: Profit-based, Fixed-profit, ROI-based, or Formula-based min/max methods.
Profit-based and Fixed-profit Min/Max Prices allow you to specify a target profit on your listings, either as a percentage or fixed price of your total sales price. Our system will automatically determine min and max prices for your listings after accounting for marketplace, shipping, and/or FBA fees.
ROI-based Min/Max Prices allow you to specify a target return on investment on your listings. Our system will automatically determine min and max prices for your listings after accounting for marketplace, shipping, and/or FBA fees.
Formula-based Min/Max Prices let you make a custom formula to set the min and max prices of your listings based off of your specific needs. Basing formula off your items cost will allow each listing to have different min/max prices based off of this amount. While basing the formula off of the item's cost is recommended, you can input other values (current price, original price, etc.) in its place
Costs are also essential when analyzing your profits. By adding costs to your account, you will be able to see how much of your revenue is profits. This information will give you insight into whether you need to adjust your min/max prices, invest in more inventory, and generally how well your business is doing.
You will be able to see all your profit information in on your Dashboard, listings page, and the Analytics section of your account. Here you will also find sales data, buy box information, and recommendations.
How can I add costs in Informed?
Manually: You can set costs on the listings page by clicking the pencil (edit) icon under the Actions column. From there, you will be able to add the cost within the listing control panel.
Be sure to include the correct cost currency as well to make sure any calculations using that cost are performed correctly.
Uploads: Our upload templates allow you to edit information in bulk through spreadsheets rather than individually. We offer various types of templates that can be downloaded within the Uploads page of your account.
To set your costs via our templates, you can use either the All Available Fields or the Set or Update Costs template. When entering your costs via an upload it is important to include both the cost and the currency for that cost to make sure your upload processes without errors.
Bulk Edit: On the listings page, you can start to take bulk actions on items by selecting either a single checkbox on the left side of a given listing or by selecting the empty checkbox at the top of the listings table to select all items on that page. After doing this, you can select the option at the top to bulk edit costs.
Integrations: Many of our supported Integrations allow you to have your integrator automatically send costs over to our system. For a list of supported integrations you can check your Integrations page in Informed or our Help Center Integrations section for more detailed information on each integration.
Frequently Asked Questions
What should I include in my costs?
Your Cost in Informed should represent the total of all costs associated with that item and should be the sum total of all of those costs. For example, if a product costs 6.00 and you have an associated shipping cost of 1.00, your cost in Informed should be 7.00.
Can I have different costs on the same SKU across multiple marketplaces?
Listings that share the same SKU across multiple marketplaces will also share the same cost in Informed. If you update the cost for one item with the a SKU "SKU123" then any item that has an identical SKU of "SKU123" will also have the cost updated. As SKU is designed to be a unique identifier amongst listings, it is always recommended that every listing have a different SKU.