MANAGE ITEM DISCOUNT (I.E., ENTER PRICE DISCOUNTS)

The Enter Price Discounts feature enables retailers to apply a dollar or percentage discount to a group of items within a store based on supplier, class, etc. for a period of time.

This document is a resource for retailers to understand how to:
Create a Price Discount
Delete a Price Discount

 


CREATE A PRICE DISCOUNT
Follow the steps below to create a price discount.

PRICING TAB

1. In the RICS Back Office, go to Inventory :: Stock Maintenance :: Enter Price Discounts

2. Enter the batch name in the Batch Name field (Example – Summer Sale 30%)

3. Enter the discount description in the Description field (Example – All swimwear on sale)

 

4. Enter the date in which to begin the discount in the Start Date field

Note: The start date must be the current date or a future date.

5. Enter the date in which to end the discount in the Last Date of Sale field (Through midnight)

6. If necessary, enter a perk dollar amount in the Set Perk To field

Note: If a perk currently exists, this will override all perks for the items within the discount batch during the discount period.

 


7. Select to calculate the discount by Percentage or Amount in the Price Change Method and Amount field

Percentage:

Decrease prices by field – Enter the percentage off. If entering a negative number, the price will be increased by this percentage.

Force new price to end in field – If necessary, enter a value between .00-.99 to force a specific cent value.

Rounding Method Field – Select the rounding method to determine how a price will end if the percentage off creates a fraction amount.

Amount:

Decrease prices by field – Enter the dollar amount off. If entering a negative number, the price will be increased by this dollar amount.

8. Select the price from which to calculate the discount in the Calculate From field

Options:

Today’s Price – The discount will be calculated from the current price of an item including markdowns.

The Price on the Start Date of the New Discount – If an item has a future price change, the discount will be calculated from the price at the start date for the discount batch.

9. Select the Retail Price or Markdown option in the Place Discount In field, to determine where the discounted price will be displayed on the Manage SKU screen

Options:

Retail Price – During the period a discount batch is active, the discounted price will be displayed in the Manage SKU Retail Price field for an item.

Current Markdown Price – During the period a discount batch is active, the discounted price will be displayed in the Manage SKU Markdown field for an item.

Note: By default, RICS will calculate a discount based on a markdown price if one is present. To force the discount to calculate from an item’s retail price, select the Compute from retail (not markdown) checkbox.

CRITERIA TAB

1. Select and enter the necessary criteria to determine what items a discount batch will impact. Multiple criteria options can be entered for a single batch.

Options:

By Supplier – Enter or search for a supplier code(s) to determine which supplier(s) to discount.

By Class – From the dropdown menu, select the class or classes to determine which class to discount.

By Color – Enter a color(s) to determine which color(s) to discount.

By SKU – Enter or search for an item(s) to determine which item(s) to discount.

Product Custom Entries – If product custom entries are utilized within the store, enter a custom entry or entries to determine which custom entry to discount.

Note: If selecting multiple Suppliers, Colors, SKUs or Product Custom Entries, separate the values by commas. To exclude the selected value(s), select the checkbox next to Exc.


2. Use the Options dropdown menu to determine which items to discount based on price:

Options:

Include all SKUs regardless of price – The discount batch will be applied to all SKUs matching the criteria set in Step 1 ignoring any retail or markdown prices.

Include only SKUs at the original retail price – The discount batch will be applied to all SKUs matching the criteria set in Step 1 for SKUs without a markdown on the Setup :: Manage SKUs screen.

Include only SKUs at markdown prices – The discount batch will be applied to all SKUs matching the criteria set in Step 1 for SKUs with a markdown on the Setup :: Manage SKUs screen.

Include on SKUs with Perks – The discount batch will be applied to all SKUs matching the criteria set in Step 1 for SKUs with a perk listed on the Setup :: Manage SKUs screen.

FINALIZE PRICE DISCOUNT BATCH

1. After the criteria is set for the discount batch, click Preview to review a .PDF report of the products that will be discounted.

Note: If the preview is accurate, close the preview to apply the discount batch

2. Click Save

 


DELETE A PRICE DISCOUNT
Follow the steps below to delete an existing price discount.

1. In the RICS Back Office, go to Inventory :: Stock Maintenance :: Enter Price Discounts

2. To select an existing price discount, enter or search for the batch name in the Batch Name LookUp field

Note: After the discount batch is selected, use the criteria fields to verify the correct batch is selected.

 

3. Click Delete

Note: To make edits to an existing batch, delete the batch and create a new batch.

 

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