This is a step-by-step guide to configuring your Amazon Marketplace Settings. Please see the notice in your Amazon Marketplace Settings regarding Amazon Keys. This guide is walking you through the rest of the process, not including Amazon Keys as Amazon has made some changes. If you prefer the visual version of this guide, scroll down to the bottom and the walk through is available below.
Step 1: To configure your Amazon Marketplace Settings, the first step is to open My Items and click Settings.
Step 2: Click Marketplaces.
Step 3: Click Amazon.
Step 4: Here you will select the country you are listing on. For this example, we are listing on Amazon US. So we will click US. Make your Country selection here.
Step 5: First are your repricing thresholds. Reprice only if price increased by at least ($). This tells Sku Grid not to increase your prices unless the supplier price goes up by this amount. For this example, we will leave it at 1.
Step 6: Enter 1. Sku Grid will only increase your price when supplier price increases by $1 or more. If the supplier price increases up to $0.99, your price will not change.
Step 7: Reprice only if price decreased by at least ($). This setting tells sku grid not to decrease your prices unless the supplier's price decreases by this amount. Enter a number or enter 4 nine's (ex. 9999) if you do not want Sku Grid to decrease prices.
Step 8: For this example, we still want Sku Grid to decrease our prices, but we are less concerned with those changes. So we'll set this number at 5. Enter a number you're comfortable with here.
Step 9: Set price to be rounded to following cents: This setting will tell Sku Grid to round your selling prices to the nearest cent that you specify.
Step 10: Click in the box.
Step 11: For this example, we do not want rounding, so we will select Do not round up.
Step 12: Do not set quantity to 0, but set price to. This setting tells Sku Grid not to put your items out of stock and instead increase your prices to a set amount. If you want to use this option, enter a number here.
Step 13: Click in the box. For this example, we do not want to use this feature, so we will leave it set to 0.
Step 14: Auto Update Amazon Stock. This setting allows Sku Grid to control your stock. If you want Sku Grid to control your stock, you'll select Yes. If you do not want Sku Grid to control your stock, you'll select No.
Step 15: Click in the box.
Step 16: For this example, we want Sku Grid to control our stock, so we will Select Yes.
Step 17: Auto Update Amazon Price. This setting allows Sku Grid to update your prices automatically. If you want Sku Grid to control your prices, select Yes. If you do not want Sku Grid to control your prices, select No.
Step 18: Click in the box.
Step 19: For this example, we want Sku Grid to control our prices, so we will select Yes.
Step 20: Default Quantity. Your default quantity, is the quantity that Sku Grid will always set your items to when it updates them. Note: You have ability to override default quantity and set it individually per item.
Step 21: Click in the box.
Step 22: For this example, we want a default handling time of 5 days, so we will enter 5.
Step 23: Update Items To Default Quantity. This setting allows Sku Grid to be able to bring your items back up to their default quantity after you have sold your items down to a quantity of 0. If you want to use this feature, set it to Yes. If not, select No
Step 24: Click in the box.
Step 25: For this example, we want Sku Grid to update our items back to the default quantity, so we will select Yes.
Step 26: Default Handling Time (days). This is the default handling time you want applied to your items when they are updated. You will have ability to override handling time and set it individually per item.
Step 27: Click in the box.
Step 28: For this example, we want a default handling time of 5 days. So we will enter 5 here. Do not leave this field empty. If you leave it blank or set to 0, Sku Grid will default to 5 because it is required in the feed that is sent to Amazon.
Step 29: We will now move on to Calculating Amazon's Selling Price.
Step 30: Click Switch To Wizard View.
Step 31: Vendor Tax (%). This is the amount that you want to account for in your pricing for possible sales tax that you might have to pay at the supplier. Tax rates range from 5-10%. Choose a number you're comfortable with, or set it to 0.
Step 32: Click in the box.
Step 33: For this example, we will enter 8 for vendor tax %.
Step 34: Margin (%). This is the amount of profit that you want to take home after fees. Margin % is a percentage of the supplier's item price, not your selling price.
Step 35: Click in the box.
Step 36: For this example, we will enter 10 for the margin %.
Step 37: Fixed Margin ($)(in addition to percent). This is any amount for profit that you want to receive in dollar amount in addition to the Margin %. Enter a value; otherwise, enter 0. Typically this is used when working in dollar amounts not percent.
Step 38: Click in the box.
Step 39: For this example, we will enter 0 for the Fixed Margin $.
Step 40: Minimum Margin ($). This is the minimum amount in dollars, that you are willing to receive. It kicks in when you have cheaper items, where margin % would be low. Enter a minimum profit amount here; otherwise, enter 0 if you do not want to use it.
Step 41: Click in the box.
Step 42: For this example, we will enter 5. So even if an item is $10 at supplier and with a 15% profit, we should expect $1.50 profit. This feature would scale our price up to receive a minimum of $5 profit.
Step 43: PayPal/Amazon Fees (%). This is where you enter your Amazon fees. They are 15% for everyone. When selling on Amazon, there are no PayPal fees either.
Step 44: Click in the box.
Step 45: Since Amazon's selling fees are 15%, we will enter 15 for Paypal/Amazon Fees %.
Step 46: PayPal/Amazon Fees ($). This would be for any per item transaction fees that you may incur.
Step 47: Click in the box.
Step 48: For this example, we do not have transaction fees, so we will enter 0 for the PayPal/Amazon Fees %.
Step 49: Selling/Other Fees (%). This would be any other percentage based fees that you may incur. Typically, with Amazon there would be none.
Step 50: Click in the box.
Step 51: Since we have no other fees, for this example, we will enter 0 for the Selling/Other Fees %.
Step 52: Include Supplier's Shipping in Calculations. This setting will enable Sku Grid to include the supplier's shipping fee (if it is known before adding to cart) into the calculation of your selling price. Choose Yes or No to include it.
Step 53: Click in the box.
Step 54: For this example, we will Select Yes.
Step 55: Convert to different currency. This setting is for those who live outside of the country they are selling in. It allows you to factor in currency conversion. Select the currency you are converting From and To. Otherwise, leave both at No for both.
Step 56: Click in the box.
Step 57: For this example, we will select NO.
Step 58: Click in the box.
Step 59: For this example, we will select NO.
Step 60: Click Estimate Price. You'll get a pop up. Click OK. Then it will show you what Sku Grid would price your item at if it was $100 at the supplier, based on the formula you have created. Click Close on the pop up.
Step 61: Then Click Close to exit the formula wizard.
Step 62: Additional formulas that fire up depending on the supplier (optional). We will not go over this setting for now, as it's more advanced. But you can watch the tutorial by clicking HERE if you would like to configure it.
Step 63: Buy Box Owner. We will not go over these settings for now as they are more advanced functions. If you'd like to learn more, please CLICK HERE for the video.
Step 64: Click Save Settings.
Step 65: You will see a notice stating that your Settings were saved.
That's it. You're done configuring your Default Amazon Marketplace Settings.