To maintain profitable selling, a "floor" is used. CompetitorEye will not suggest a lower delivered price than this amount (configurable). Your floor is considered the absolute lowest amount an item can be sold for and still be profitable. CompetitorEye can use static exact floor amounts (supplied by you) per product (supplied in your feeds to us or manually edited) or dynamic floors (floors created by CompetitorEye) based on your current selling price.
CompetitorEye can then use this value in several ways. We can treat it as your absolute minimum selling price or we can treat it as a "cost" and add to it based on your settings to create a "working floor" for you. Note: If providing a floor or cost to CompetitorEye, it should not contain your shipping price unless you are offering "free" shipping since a billed shipping charge will be a pass-through amount from Amazon.
Defining your floor:
If using dynamic floor: Which can be overridden by supplying a specific amount in your feeds. The default floor applies when you do not have exact floor amounts for your items, or wish to stay competitive on newly online items monitored before you feed CompetitorEye with a specific floor amount.
If checked, CompetitorEye will create a non-changing floor value based on your current price at the time of its next report.
Example: Dynamic floor of 10% with a product presently selling for $100 will create a static floor of $90. That $90 floor will then become a static floor and not change until you manually adjust the amount or reset all floors (below)
If not selected and using dynamic floors, CompetitorEye will adjust your floor by the dynamic floor value each time we review your pricing.
Example with Dynamic floor of 10% without using "Create Static floor" above:
Monday Price $100 dynamic floor would be $90, if dropped to $90:
Tuesdays Price $90 dynamic floor would be $81, if dropped to $81:
Wednesdays Price $81 dynamic floor would be $72.90
Note: CompetitorEye will utilize your Formula amounts below to actually increase or decrease your pricing, the example above was an extreme scenario of dropping the price to the floor in every occurrence.
Regardless of how my floor is determined, CompetitorEye should add % to all items to cover my costs, fees, etc. making my 'Working Floor' a bit higher than the static or dynamic floor or cost I may have provided. You can use specific $ amounts to individual items if using "Item Floor Increase" custom importing option. This percentage addition will occur to the base floor/cost after any possible category referral percentage is added.
Raising and loweing limits: (Floor and Ceiling evaluations)