How should I price my items?
When pricing your items in Moniebook, it’s important to remember that:
- Cost is what you pay to get the product
- Price is what you charge your customers when selling the product
There are 3 types of pricing options:
- Fixed price
- Variable price
- Price range
Fixed price
The item has a set price that is automatically filled in at the point of sale (POS). Cashiers cannot change this price.
Fixed prices are best for stores where prices are standardized, like supermarkets or pharmacies.
Variable price
The cashier will manually enter the price of the item for every sale. Variable pricing has no limits, giving full control to the cashier over the selling price.
Variable prices are best for business where haggling is a part of the sales process, like open market or tailoring services.
Price range
The cashier will manually enter the price, but only within a defined minimum and maximum range. This helps avoid mistakes or over-discounting while still allowing flexibility.
Price ranges are best for stores that allow negotiation but want to keep pricing under control, like furniture stores or electronics shops.