How to set price mark-ups using ShionImporter?
In order to make a profit with your dropshipping business, you need to markup the supplier product price.
Firstly, it is important to mention what is "Mark-up Price". Mark-up is the difference between a product's selling price and cost as a percentage of the cost. For example, if a product sells for 125$ and costs 100$, the additional price increase is (125$-100$) / 100$) x 100 = 25%
There are two different types of markup calculation and you can use any of them:
The first one is Price Mark-up by Amount is calculated by adding the amount you wish to the Retails price. For example, if a product costs $100, the selling price with a $20 markup by amount would be $120.
The second one is Percentage Price Mark-up is commonly calculated as the difference between the wholesale price and retail price. For example, if a product costs $100, the selling price with a 25% markup would be $125.