When you set up a marketplace contract with a supplier, it is established in the contract what currency will be used in business between the two companies. In some cases you might want to sell the products from the supplier in a different currency on your website. Your pricing catalog converts prices from the contract currency to the currency you would like to display on your website and charge your customers in.
What you have to decide is whether to use:
- Live currency exchange rate - this is default.
- Fixed currency exchange rate - you need to enable this feature and set your conversion rates.
Here you find information on how to add a fixed conversion rate.
Adding Markup to the conversion
If you decide to use the life conversion you are all set.
If you want to add markups to a fixed exchange rate, add your exchange rate first, then move to the steps below.
In either case you can add a markup to the currency conversion. By doing so you raise the prices you get from the supplier by a percentage. Please note that markup does not affect the commission you receive from the supplier. The commission is based on the prices and the currency stated in the supplier's pricing catalogue and is defined in your marketplace contract.
How to add markup to your suppliers products
1. Open your price catalogue by navigating to "Products" > "Price catalog".
2. Select the supplier you would like to add a markup to. Select the currency you would like to add the markup to. Add the markup in markup box. The markup is the percentage you would like to raise your supplier's prices by. Save your changes.
When you have added the markup and made other changes to your pricing, publish the changes by clicking the "Publish catalog" button up in the right hand corner.