Our new package pricing model is currently available to packages in Stores with their currency set as USD, CAD, or AUD.
Previously, it was possible to set any price on a package created in the Marketplace. To allow for better insight into the unit economics of each product that you sell, we’ve updated package pricing to be automatically calculated based on the sum of each contained product’s retail price, minus a percentage discount.
Partners can update packages that are still using the old pricing model at any time. If it is preferable to keep using the old pricing model on a specific package, partners can choose to do so on a per-package basis. However, packages using the old pricing model are incompatible with certain features—they cannot be added to invoices, and cannot be purchased through the Shopping Cart.
Follow the steps below to ensure that your Store’s packages can be easily upgraded to the new package pricing model.
Set your Store’s currency
Ensure that your Store is set to the correct currency for displaying retail prices.
- Go to Partner Center > Marketplace > Manage Store and click Store Settings
- Under the Currency tab, you can see the currency your Store displays prices in. Ensure that this currency matches the currency that you can accept using Vendasta Payments.
- If necessary, you can adjust your Store’s currency by clicking the lock icon to make changes.
- Note that changing the currency of your Store will affect all product and package prices that are currently set in a different currency from the one you select. We suggest reviewing the products and packages in your Store to ensure that they are priced in the intended currency before making changes to this setting.
Review and set retail prices
A product’s retail price is used to calculate the price of a package, and is used automatically when an individual product is added to an invoice. To ensure that a package’s price accurately reflects the value of the products and services that it contains, it may be necessary to set or update the retail price of individual products.
- Go to Partner Center > Marketplace > Manage Products
- Select a product
- Go to the Product Settings tab for the product you’ve selected
- You can view the retail price for the product you’ve selected under the Retail Price section. If no retail price is set, or the retail price is inaccurate, click the lock icon to update the price.
If you do not set a retail price for the products you sell, the packages and invoices you create will default to the Suggested Retail Price for your store’s currency.
Note that, for partners using Markets, Store currency and product retail prices can be set on a per-Market basis.
Partners using Vendasta Payments to send payable invoices and allow purchases through the Shopping Cart in a given Market must set that Market’s currency to either USD or CAD.
Review your Store’s packages
Updating existing packages
To update the pricing on packages that were created using the old pricing model, go to Partner Center > Marketplace > Manage Store and select a package to edit. Packages that need to be updated will be highlighted.
When viewing a package using the old pricing model, click the Use new package pricing link at the top to automatically convert the package. The package's price will be set as the total of its products' retail prices, and will automatically calculate and apply a discount to replicate the original price of the package. We recommend reviewing the price and discount of your package to ensure its accuracy, and ensuring that you've set the retail prices of all products in the package, if necessary.
Once you have determined that the package price and discount are accurate, click Save & Publish to publish the package to your Store, or hit Save as Draft to save the changes you’ve made publishing them. The package will now be updated.
Note that draft packages can be added to invoices, but only published packages can be added to and purchased via the Shopping Cart.
Retaining old package price settings
Partners who do not want to use the new package pricing model on a specific package can click I don’t want to use the new package pricing when editing a package. Note that packages using the old pricing model cannot be purchased via the Shopping Cart, and cannot be added to invoices.
For packages whose prices incorporate a product or service not contained in the package itself, it may be necessary to create a product with the correct retail price and add it to the package. This can be done at any time in Vendor Center or using the Create Product button in Marketplace > Discover Products.
We strongly recommend auditing the retail prices of your products and updating the packages in your Store to ensure that your Store works effectively with Vendasta Payments, the Shopping Cart, and invoicing features. Using the updated package pricing model ensures more accurate unit economics, as well as the flexibility to add or omit items per package without needing to recalculate the package price. Most importantly, these changes to package pricing will ensure that your pricing is automatically consistent across Shopping Cart purchases, sales orders, and invoices.
Purchase button behavior
The Purchase button behavior setting allows partners to specify behavior and messaging of the button in the Pricing section of a package in their Store. Selecting Add to Shopping Cart under this setting allows your customers to add these items into their Shopping Cart. Note that the Add to Shopping Cart option replaces the Sales Order option, which only allowed a customer to submit one package per sales order.
“Starting At” and “Contact Sales” options
In order to allow your customers to purchase a package immediately through the Shopping Cart, packages using the new package pricing model described above do not currently support the following settings:
- “Show as Starting At price”, which causes packages to display a price Starting at $x / frequency when viewed in your Store
- “Show Contact Sales instead of price”, which replaces the package’s price with a prompt to Contact Sales when viewed in the Store
Partners who still want to use either of these options on a package can opt an individual package out of the new pricing model by selecting Return to old package pricing on the Edit package page. Note that this will prevent customers from purchasing the package through the Shopping Cart. Instead, customers can complete the Shopping Cart checkout process by submitting an order for the package.
If a customer’s Cart contains one or more packages with the following settings, they will be unable to purchase the contents of their cart using a credit card. Instead, the checkout process will submit a sales order for the contents of their cart.
- Packages using the Starting price option,
- Packages using the Contact Sales option,
- Packages that are using the old package pricing settings
For partners who have not set up Vendasta Payments to accept credit card payments from your customers, the Shopping Cart checkout process will always submit a sales order.