[BROADTIME STORES] Pricing Rules + New Cost-based Price Controls - February 19, 2021

Greetings everyone, 
Hope you're all doing well.
We continue to add many features to our Tuneportals platform for you, as we have recently started color-coding when items have been canceled, or are blank from sending to AEC or aren't qualified to send. These are all to help you manage your orders more easily.
Today, we wanted to send over a very important note about how prices and inventory work together and are set up on Broadtime plus how you can adjust them to suit your store if you wish. We have been working hard on requested pricing features and rolled out brand NEW pricing controls yesterday and want to let you understand how you may use them for your site.

In this email:


It’s important to remember that you have absolute control over pricing and availability on your site.
To fully examine pricing rules and our new controls, it's important to first remember the types of inventory that can be made available for sale via Tuneportals. 
There are two types of inventory on Broadtime sites – Global Inventory (product provided by Alliance for all sites) and Local Inventory (product that you have in-store and/or have uploaded manually or through your point-of-sale system to tell Broadtime what you have in stock - Just for your site). All items must have inventory in order to be "For Sale" on Tuneportals powered websites. (The exception, of course, are preorders.)

For global inventory, we use the MSRP (Manufacturer Suggested Retail Price) that comes to us from Alliance (AEC) to set the initial price for each product on Broadtime sites.
For local inventory, product pricing may be SET and tied to quantity manually or via data upload. We loosely refer to whatever price you supply with local inventory as a “fixed price”. You may upload local inventory to us via the web or an automated dataload to create fixed-price inventory.
You may additionally upload “sale pricing” (that may have a start date and MUST have an end date) to us via the Admin (or automation) and use that feature to “set a price” manually WITHOUT having to add local inventory.
1. Price Rules for Global Inventory with NEW Cost-based Rules + Example Calculator 
2. Local Inventory Set Manually or Via Dataload
3. Sale Pricing 


There are price rules that can be created and applied to global inventory from Alliance (and optionally for your own inventory). 

For instance, there can be a global price rule that says “all CDs between $9-$20 are 10% off.” You can either leave that as is and have it apply to all items on your website – both global inventory and local inventory – or you can go in to adjust to keep the local inventory as supplied and only apply the rule to everything else. 

Moreover, if there is a price rule set and an item meets the criteria (e.g. a CD between $9-20), then you can either list a percentage off (or above) or a dollar amount off the list price on your site. (adding to MSRP is done with a negative discount)

Again, you have complete control over the price rules implemented on your site
Here are some examples:

Increased Price over List: (represented as a negative discount)
This is adding $2.01 to the list price in the underlined example of Vinyl in the price range
10% Discount on DVD's
This is taking 10% off the list price of DVD's
As of yesterday, we now allow you to create global price rules that are formulated based upon COST rather than on PRICE (MSRP). Now you may create a rule that says I want a 40% markup on whatever my (AEC supplied) COST is in order to calculate my new PRICE. We also added the feature where you may modify the price rule to use MSRP instead if it is higher than your calculated price.
New Price Controls
When editing a new cost-based pricing rule, you can see the mathematical correlation between markup and margin. We are also including a pricing calculator on the pricing rule page and on all pages with AEC inventory (Under pricing & inventory) so you can see your profit and possibly experiment with different pricing models.
Pricing calculator
You may also upload your local inventory either manually, piece-by-piece or by dataload.  
To upload local inventory manually, per item, you must first find the product page of the item you would like to include on your site. Search or Browse for your Item.
Once you navigate to the product page, scroll down to pricing and inventory. The first line is the inventory available via Alliance. Below that, you will see "Enter a New Inventory Record" where you can input the REGULAR PRICE you wish to list the item for and the local quantity you have in the respective fields. Once you input the data, hit "Update" at the bottom and it will appear on your site. 
It's important to note that unless you are supplying Broadtime with your local inventory on a daily or regular basis, that you will have to go in and manually update your inventory yourself if sold offline to ensure the accuracy of what is listed on your site. So, if you sell an item listed on your website, but it's sold IN-STORE, not via Tuneportals, you will have to manually go in and update the quantity of that item under Pricing and Inventory. If your store provides us with your nightly inventory, it will automatically update. 
If you want to import your entire local inventory at once instead of manually doing each item one-by-one, scroll to the top of your Admin page and look for the "Import Inventory" link, or simply go to YOURSTORE.tuneportals.com/AdminInventoryList
There you will find instructions on how to format a file that you will upload to us. That will upload whatever you have within that file. It would be just a few hundred pieces you'd like to put for sale on your website, or it can be your entire store's inventory. That is totally up to you and what you'd like to feature on your website. 
Again, you'll need to keep up with whatever local inventory you upload regularly to ensure it's in sync with what you have available. 
Next up is on-sale pricing, which is different than a price rule.

Individual product SALE PRICING and FIXED ITEM PRICING (w/o inventory) 

Either as an uploaded file or individually, you may choose the have a "sale" and put a list of items "ON SALE" for your store. For example, you could have "Jazz Sale" month and select titles that you wish to promote and feature them. We have a specialized "Chart" for "ON SALE" items that is featured on your site. You set it by providing a price and a start and stop date or just a stop date. For permanent pricing change you can set the "Days" amount as a very large number, something like 5,000 or higher. 
You may also use the SALE feature to assign a permanent price to an item NOT based on inventory. You just enter the desired price and put a long length on the sale, like 5,000 days or similar long term.
Note: The Final price is represented and to the right we provide information on "where that price comes from"
Additionally, Each week, we offer thousands of products in the AE Deals category at an “on-sale” price. This puts specific titles on sale through a specifically-calculated price point based upon the discount to the normal price.

These sales are meant to pass savings on to stores and consumers, as AEC is discounting and making items available at a discounted rate AND the label is agreeing to take less money for their products. The intention to offer products at a reduced cost to the store so that they be put on sale, even if you plan to purchase them and bring them in-house to fill yourself. The deals are available if your filling from Alliance or from your store.

Remember, you can completely override any sales price listed via AE Deals and put your own on-sale price or remove it from being on sale. You may find the list of AE Deals titles on the WebAMI platform. We will sometimes promote these "on-sale" items by featuring the sale and promoting with banners. These are always optional and as mentioned you may promote your own.
Note: For PREORDERS you may use the sale pricing function to set the price that you wish to sell for if it's different than the supplied MSRP.
We’ve built the Tuneportals system so that product pricing (like other features) is completely in your control and comes with default behavior, so you can choose whether MSRP/fixed pricing, cost-based price rules or on-sale pricing is best for your situation or a specific title/category/genre and how to implement various pricing across the inventory listed on your website. 

Again, it's important to remember you have control over pricing on your website, you just have to determine which levers to pull that's best for you and your store. These new features are some that have been requested by our customers for a while. We're excited to roll them out and put them in your hands now.
As always, we're here to answer any questions you may have. Feel free to reach out using support@broadtime.com and we'll get to you as soon as possible. 
Jon & Broadtime Team
Broadtime Manual + New Features

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Previous Broadtime Store emails, which include valuable information and NEW FEATURES are available here: