When you set up a marketplace contract with a supplier, the contract will decide what currency your will be used in business between the companies. In some cases you might want to sell the products from the supplier in another currency on your website. Your pricing catalogue converts prices from the contract currency to the currency you would want 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 markups to 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. Note that markup does not affect the commission you receive from the supplier. The commission is based on the prices and the currency the suppliers' pricing catalogue stated and is defined on your marketplace contract.
To add markup to your suppliers, open your price catalogue by navigating to Products > Pricing.
Next. Select the supplier you would like to add a markup to. Also choose 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 suppliers prices by. E.g. raise all the prices for this supplier in Australian Dollars by 8% in this case (see picture below). Click save.
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.