Price lists and currencies
SKUs will have prices assigned to them within a market. In this section, you will learn about price lists, currencies, and how to assign a particular SKU to one or more prices in different markets.
Price lists
Price lists are collections of SKU prices, defined by currency and market. When a list of SKUs is fetched, only SKUs with a price defined in the market's price (or in the price list associated with a price list scheduler — if any) and at least a stock item in one of the market stock locations will be returned. A user can create price lists to manage international business or B2B/B2C models.
Price list schedulers
A price list can be optionally associated with different price list schedulers which, in turn, can be optionally associated with a market sharing the same currency and tax policy in terms of taxes included or not included. A price list scheduler sets a time frame within which its price list overrides the one originally associated with the market. If more than one of the price list schedulers associated with a market are active at the same time, the one that starts first applies (if more than one of the active price list schedulers start at the same time, the one that ends first applies).
Prices and currencies
Prices are the defined cost price of an SKU associated with a currency and price list. When a customer purchases an SKU, it gets the price associated with the order's active price list for that market. An SKU can cost $50 in List A for the US market and €45 in List B for the EUR market. SKUs without a price in a given price list (or in the price list associated with a price list scheduler — if any) are not sellable for the market associated with that price list and price list scheduler.
Price tiers
If you need to implement a tiered pricing strategy for your business, Commerce Layer provides the option to define up to 10 price tiers for each price. At the moment, two types of price tiers are available:
- Volume-based tiers — The price of the associated SKU is set by the tier the total quantity of items purchased falls within.
- Frequency-based tiers — The price of the associated SKU is set by the tier the frequency specified for the item purchased falls within (usually used to add a discount associated with a subscription process).
External prices
You might need more dynamic pricing options or desire to define a custom price calculation logic that Commerce Layer doesn't support. To do this, you can manage your prices using an external service.
You will set your external service API endpoint at a market level. This will calculate the unit price of each SKU and will be fetched upon request.