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.
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
- 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 > Products
- Select a product
- Go to the Product Info 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 > Packages 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.
When updating a package, a retail price for each product will be inferred based on 1) the currency, retail price, and billing frequency of the product, and 2) the currency, total price, and billing frequency of the package. Because of this, certain packages created using the old package editor may need to be reviewed before the update process can be completed.
- Packages containing products with a retail price in a different currency, or whose total price is in a different currency, will be updated to match your Store’s currency setting. The prices of products in the package, as well as the total price of the package, should be reviewed or adjusted to reflect your Store’s currency setting.
- Packages with a billing frequency that does not match the billing frequency of products contained in the package may need to be reviewed before they can be updated. After adjusting the billing frequency of the package to match the billing frequency of the products in the package, the update process can be completed.
Click Save on a package to save any changes and complete the update process, or click Save Draft to continue editing the package later.
Draft packages can be added to invoices, but only published packages can be added to and purchased via the Shopping Cart. 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 by clicking + Add product or service > Add item to catalog while editing a package editor. Products can also be created 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.
The Purchase 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
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.
- “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
- 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.