How to work with Dynamic Pricing

Context

If you have more than one Store in your Brand and/or you use multiple ordering channels and marketplaces, Dynamic Pricing is a great feature that we introduced to make the price management across all of your ordering points easier and faster.

Please note: This feature is only available for Brands that use PAR POS as their POS. It also works for Printers only and Plain Integration.

What is it?

It's a feature that allows you to:

• On Brand level - adjust prices in bulk (for example, in all your Stores)
• On Store level - adjust prices on different ordering channels at once

How does it work?

Let us explain by example: let's say you're changing a product price. You want to increase it by 20% and you want this to be changed in all 4 ordering channels that you use.

Dynamic Pricing can automatically apply this 20% increase at once. It can pull information about the current price from MC or from POS and adjust it accordingly - in one go, everywhere. Easy!

How to start using it?

Please note: Dynamic Pricing is not enabled by default. It should be enabled by the Administrator first. 

Once the Admin has enabled Dynamic Pricing, they will be able to activate it in the MC by going to Configuration, and then Product Enablement. Then, a Dynamic Pricing option will appear, and the Brand Manager will be able to click on the toggle to start using it.

Once Dynamic Pricing is enabled, every Brand Manager and Store Manager can setup settings that will apply it at Brand and Store level. They can be found by going to Menu, then Store Groups.

How to set it up?

Here's how you may set up Dynamic Pricing on both Brand and Store levels:

Brand level

When activated, new configurations will be available under Price Groups. They can be applied to different product types. Keep in mind the following when experimenting with these:

• As Dynamic Pricing is set on Brand level, Store level can adjust it for Store(s) needs
• Once it is configured to do any adjustments to prices - the dynamic price read-only will show all prices across the Menu
• Dynamic Pricing applies to price defined for the Price Group numbers it was introduced in
• When Dynamic Pricing is applied, the prices are calculated from MENU Ecosystem, not the POS

• Round dynamic prices: specifies rounding unit for percentage type
  Please note: this field is REQUIRED
• Apply price changes to existing stores: selects specific Stores or applies the feature to all your Stores
• Type:
  • Nothing
  • Percentage: applies a percentage to calculate the new price
  • Amount: applies a specific amount to calculate the new price
• Value: amount or percentage
• Product Types: applying to Items, Modifiers and Combos

Store level

On the Store level, only these configurations are available:

• Type:
  • Nothing
  • Percentage: applies a percentage to calculate the new price
  • Amount: applies a specific amount to calculate the new price
• Value: amount or percentage
• Product Types: applying to Items, Modifiers and Combos

Please note: for Brand level, 100% is a default price of the product (for percentage), and that amount can't be negative. By consequence, Store level will have the same rounding unit as Brand.

Psychological pricing

As part of your marketing and pricing strategy, you can now configure psychological prices.

They're mostly 'just-below' - so for example instead of 3.00USD, you'd go for 2.99USD.

Here's how to do it:

• Go to Management Center
• On Brand level, go to Price groups
• Hit Dynamic pricing
• First, make sure that Round dynamic prices is specified
• Then, toggle Decrease rounding by 0.01

If Decrease rounding by 0.01 is on, you will have psychological prices applied.