This article will be explaining how to use the Inventory Markdown (Sale Price Markdown) feature.
To learn more about pricing items, read the article here.
To learn about the Price Slasher tool, click here .
Inventory Markdown
The Inventory Markdown feature was created to allow stores to place one or more items on sale for a period of time, then whenever you are ready, revert all items to their original price. Items that are on sale will have a special sale price shown on their label, sale price is shown when selling the item, sale price is also seen on the web.
To use Inventory Markdown, start by clicking on Inventory from the Bravo Dashboard.
Click the Ad Hoc Reporting button in the Inventory screen and create a report to find the items you want to discount. In the example below, we are looking for all inventory over 250 days old.
Click OK to run the report.
Select the items you would like to discount. Click the Inventory Markdown button from the right hand side of the screen. (Scroll to the bottom of the menu).
The Inventory Markdown window will appear. This is where you are going to set your markdown amount/percentage.
Note: Check re-label items if you would like new tags printed.
There are several choices for marking down your inventory items:
The Markdown Method will determine how the Sale Price is set.
- Fixed Amount - Sets the Sale Price at a fixed dollar amount. This will set the Sale Price the same for every item selected. You will not be able to set a sale price higher than the regular price of an item. Pricing items below the cost will result in an exception being generated.
Example - Three items are priced at $100, $115, and $150. You set the Fixed amount to $80. The item sale price will now be $80.00 for each item.
- Cost + Percentage - This will set Sale Price at the set percentage OVER the cost.
Example - The item has a cost of $50.00. The Percentage is set to 50%. The sale price will now be $75.00 (Original Cost + 50% of the original cost)
- Cost + Amount - This will set the Sale Price at a fixed dollar amount OVER the cost.
Example - The item has a cost of $50.00. The Amount is set to $30.00. The Sale price will now be $80.00. (Original cost + $30.00)
- Percent Markdown - This will discount the items by a given percentage.
Example - The item has a price of $100.00. The Percent is set to 20%. The sale price will now be $80.00 (Original price less 20%)ount is applied, they are calculated from the original price.
Note: The online web price cannot be set so that it would be greater than the in store price. Setting prices based on percentages is useful if setting more than one item on sale at the same time (using multi-select from the grid). When setting the price based on percentages, the prices are rounded to the nearest dollar. If the cost or discount percentage is such that the discount % would otherwise be rounded to zero, the discount is not shown on the website.
Discounts are not compounded -- each time the discount is applied, they are calculated from the original price
Example: If an item currently is discounted 30%, to apply an additional 10% discount, a 40% discount must be applied.
Once the Inventory Markdown is set, the sale price will show on the left hand side of the Inventory screen:
New tags will also show the sale price:
When a marked down item is scanned for sale, the original price appears with a strike through and the sale price is displayed on the Transactions screen:
Undo Markdown:
If you wish to undo a previous markdown, click here