Online retailing is tough. In particular if you sell mass market products it’s very tough indeed.
You need all the help you can get.
If you care about customer service, and you sell on more than one channel, and you have more than about 50 products which sell well, you need some kind of back office multi-channel software. In fact even if you think this will apply to you in the future – you need it.
Help is at hand. The ‘Channel Profile’
Volo utilises ‘Channel Profiles’ which as the name suggests profile your stock by channel.
They are clever things.
You can do things like sell 90% of your stock for a specific product on Amazon and 100% on eBay – so when 90% is sold the Amazon listing will close and you won’t oversell.
But that’s nothing.
You can use the Channel Profiles to price your products.
Using price formulas within the Channel Profile can calculate the selling price and by updating specific Channel Profiles you can update prices globally with just one or two mouse clicks.
And it gets better.
Volo has up to 10 named prices per SKU so you could produce a formula which takes the cost price and adds a weighting element, a desirability element and multiplies it by a global constant to come up with a selling price. Different channels can have different weightings.
You can even produce a Channel Profile for items on Sale which Reduces the weightings.
If you use ‘Kits’ in Volo you can use a ‘Keyword’ to calculate the cost price of the kits within the formula.
If Royal Mail increases the cost of postage you can simply increase the postage weighting to globally increase prices.
And it gets better.
With another keyword it’s possible to match all channels with the Amazon selling price to avoid the dreaded Price Parity strike from Amazon.
If you use Amazon price checking within Volo you can now use this to re-price your eBay or website prices.
I told you they were powerful.
Beware though channel Profiles are powerful and it is possible to inadvertently end listings by making an error is allocations.