Inventory Aging (Price markdown - Automatic Price Reductions)

Inventory Aging (Price markdown - Automatic Price Reductions)

Inventory Aging

Inventory aging is used when you want to discount products that aren’t sold after a specific period of time in order to increase the chances that they will be sold. 
For example, if a product isn’t sold after 30 days, the price will automatically be reduced by 10%. 

To add Inventory Aging across all your products, 

1. Click Store Settings > Price Settings.

2. Click Add New.

a. Enter the “Start Day” that you would like the products to be discounted.
For example, if you want your inventory to be discounted if they are not sold after 30 days, enter “31” since the discount will be applied from the 31st day. 

b. Enter the “End Day” that you want the item to be marked down to, or for the item to be taken off the floor to be expired or donated.

c. Enter the discount that will be applied for the period entered . 

d. After your items have been discounted to the furthest amount you’d like them to be, you can set up a rule to have your items become expired or donated. Enter your Start Day as the day after your last Inventory Aging rule was and Enter 365 as your End Day. Lastly, select the “Set as Out of Stock” checkbox under the discount field to signify that the item will be recognized as expired once the create or upload date goes past the Start Day of this rule. 

You can set an expired item as store owned if you select the checkbox under the Store Owned section. This way, once an item expires, it will automatically designate the item to be property of the store and no longer owned by the consignor. 

Edit/Delete an Entry to Inventory Aging

To edit or delete an entry,

Click on the ellipses (3 dots) on the right. 
Click Edit or Delete.
Edit your settings as you wish. 
Click “Save”.

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